Category: Archive

Echo editorial: Real estate ties

February 17, 2011

By Staff Reporter

The Irish are finding bargains in New York City, where they favorably compare prices even in the most prestigious parts of Manhattan with Dublin. For most Irish people, New York is a magical place, the most exciting city in the world, and owning a little part of it represents more than just an investment.
They have also turned their attention to other cities, such as Boston, Chicago and San Francisco, as well as Florida’s sub-drenched
The Americans, when they look towards Ireland, are more wary. They wonder whether the unprecedented increases in the price of Irish
property, especially around Dublin, herald a boom-and-bust cycle.
In fact, according to some market players, the Irish market still has very strong prospects. They say the demographics will keep demand, and therefore prices, high for some time; Ireland still has a
comparatively young population and a steady influx of young
And there is anecdotal evidence of a new type of buyer. Until
recently, most Irish-American interest in Irish real estate centered
on homes intended for retirement. Now, increasing numbers of
Irish Americans are sending their children to Dublin’s prestigious
third-level institutions, Trinity College and University College
While the fees in these universities are far less than their U.S.
equivalents, they often do not provide accommodation for students,
leading Irish-American parents to consider an investment in a Dublin
Given the strong links of family, culture, industry and tourism
between the two countries, the only amazing thing about this latest
burst of mutual interest in real estate is that it didn’t happen
It represents a further deepening of the relationship between the
United States and Ireland, and as such is very welcome.

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