English buying stately homes in Ireland

E

Echelle15

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In todays Sunday Independent there is an article about the English becoming interested in Irish stately homes again. One of the reasons given is "Most auctioneers agree that the primary reason...is the sterling/euro exchange rate which gives the UK buyer nearly a third of a discount on Irish prices at the outset"
But what does this mean? Has there been a huge change in the sterling /euro rate recently or is this just a poor piece of reporting?
Is the reporter saying that a house which costs €1,000,000 , ( £670,000) just "looks" one third cheaper to the English buyer.
 
I think that it is an EA with a few statley homes on his books trying to get us Irish interested by pretending that someone else will steal them off us.
He had to come up with some reason but could not, so he made up a stupid one.
Either that or he does not have enough brains in his head to realise that we gave up our link with sterling a long time ago and that we gave up comparing the 2.
 
I read that too and questioned it - and answered it to myself.

It's a load of rubbish.

You also see people trying to flog Americal property because "the dollar is at an all-time low".

That's just more sales guff.

The reality is most property investors borrow in the local currency anyway - in which case any currency swings only affect the capital gain.
As a result any future movement of the dollar over the next few years is not going to make or break a man who has bought property there.
And any investor who releases equity from his own property in Ireland to purchase outside the eurozone would be more aptly called a currency speculator rather than a property speculator given that currencies are generally more volatile.
 
Well I still get the sunday paper and I notice that the times property supplement yesterday blames the price of property in Kinsale on the Russians. Cheers for the Russians.
 
I knew it was the Russians all along. No one would believe me !!
 
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