How will Brexit affect the Ireland housing market? A question wondered by many citizens in Ireland, especially those currently active in the housing market.
Though not all bad, the housing market could be negatively impacted by the loss of international buyers.
As the nation watched as the British pound lost value by 10% with the referendum result being announced, and has dropped even more since then, housing in Ireland just got significantly more expensive for British buyers.
With current housing prices already being considered too high, for all buyers, international or not, the prospects of buying just got much more difficult for anyone newly searching.
The Irish Times reported recently that 60% of buyers of top-end homes are international, while 40% being more specifically from the UK.
By top-end homes, the Times is reporting numbers of €1 million and over homes. Meaning, the rest of the market, while without statistics from the Irish Times is also highly diluted by foreign investors.
Citizens looking to permanently move should not have much of an impact in their quest to buy as it …