I certainly think it is a good time to sell investments in Ireland and I am currently advising clients to reduce their exposure to the Irish market. But, the overseas market is lot more riskier than some investors appreciate, so you need to do your homework and be sure you want to put your funds in another property market because after all you can get good returns now if you simply put your money on deposit - not very exciting i know but it's a fact.
Almo's tips at the top of this forum are good start for tips before investing abroad, but if you are sure you want to invest abroad, and as this is the first time, don't put all your investment funds into an emerging market. Go for a low risk established market in the best area possible in a capital city, as these are always the recipients of the most investment and tend to be most affluent. Don't go to areas that are being overhyped and where lots of other Irish investors are going, so avoid Bulgaria, Turkey Dubai or Berlin. I would also avoid tourist locations as these are too much hassle and too prone to trends and go for the corporate market, where you can get longer lets. If you do want to invest in an emerging market in eg Eastern Europe, do your homework, but because these are riskier locations try and balance this investment with another investment in a lower-risk established market such.
A good start would be to look at countries that have double taxation agreements with Ireland, which you can find via this link [broken link removed]
Draw up a short list of countries and then narrowing it down to the best locations before finally looking at potential investments.
Don't get too hung up on rental guarantees as you are normally paying a premium for these properties and only end up getting your own money back. Also don't the discount second-hand market as there are sometimes better value to be had in classic apartments, that are located next new city projects, which allow some of the value to trickle-down so that the older well placed properties benefit.
To compare investments like for like compare the price per sq.m. and always check these prices against official figures (where possible).
Check the local rental market and ensure that your costs are going to be covered i.e. the development 'washes its face'. At the end of the day you need to be clear that there will be demand from purchasers from your investment. The old adage the 'day you buy is the day you sell' still holds sway and you should be able to sell your investment that day after you buy it, if you needed to. Think about your exist strategy carfully think about who you are going to sell it to and anticipate demand. If the property is too expensive for the local market then you need to think carefully about the investment, because this should your prime target market. There is no guarantee that the locals are going to be able to afford it in a few years, especially at some of the prices Irish investors are paying. Lots of developers are saying that this country is the next Ireland, well this is not necessarily the case baecause Ireland was unique, it was English speaking, with a very close relationship to the USA and UK, whereas all the emerging markets in Eastern Europe are in competition with each other.
The overseas property market is unregulated so don't believe any figures such as rental yields and capital appreciation and potential for the investment without checking these figures out yourself.
If you find a potential location, investment, developer etc then check them out on this site, someone is bound to have dealt with them.
Good luck,
Simon.