Buying Investment Property in Dublin from Abroad

[Diesomnius]

Hello folks,

my husband and I have been looking into buying an investment property in Dublin. We lived there five years and moved abroad in 2020.

Now that all has been sorted with the bank and we received our approval in principle, we were wondering to hire a buyer's agent. Does anyone have any experience with buyer's agents not only in Dublin but also in general? Any info's more than welcome.

Thank you all,
M.

 

[Brendan Burgess]

Why are you buying in Dublin?

Is it residential or commercial?

What country do you live in?

What country do you intend to live in long-term?

Do you own your own home where you live?

What nationality are you?

 

[Diesomnius]

Why are you buying in Dublin?

Is it residential or commercial?

What country do you live in?

What country do you intend to live in long-term?

Do you own your own home where you live?

What nationality are you?

Hello Brendan,

Why are you buying in Dublin?
- My husband's Irish, and we would buy an apartment in Dublin as an investment property through a buy-to-let mortgage, which has already been approved, and that we would move into one day when we decide to go back to Ireland. Moreover, based on our experience from living there, we see Dublin as a great market for investment properties.

Is it residential or commercial?
- Residential.

What country do you live in?
- Switzerland.

What country do you intend to live in long-term?
- Switzerland.

Do you own your own home where you live?
- Not at the moment.

What nationality are you?
- Italian.

 

[Brendan Burgess]

we would move into one day when we decide to go back to Ireland.

What country do you intend to live in long-term?
- Switzerland.

If you were definitely moving back to Ireland within 5 years, it might make sense to buy a property here.

But as you don't seem to be planning to move here for some time, if at all, then you should not buy here.

• The regulation of landlords is horrendous in Ireland
• If the tenant chooses not to pay the rent to these non-resident landlords, you won't be able to do anything about it.
• If you sell the apartment it will be liable to Irish CGT ( I am not a tax expert, so check this.)
• Rental profits may be subject to tax
• If you do move to Ireland, the apartment might not be in the place you want to live.

Against this, if you move back to Ireland without a property, Irish property prices may have escalated to a level which is unaffordable for you. So buying now gives you some protection against that.

I think your priority should be to buy a home in Switzerland.

Brendan