Cork and Wicklow Most Popular for Country Home Buyers

A new report from property consultants Savills Ireland has revealed Cork and Wicklow as the most popular locations for country home buyers in the €1 million-plus price bracket.

According to Savills, this suggests that many of those seeking the benefits of country living are also looking to remain within arm’s reach of major cities, be it for shopping and entertainment purposes, prestigious schools or access to good road links and international airports. Indeed, Savills sales data support this view, with a disproportionate number of transactions located in Dublin and neighbouring counties, and along national arterial routes (see heat map below).

The report also highlighted that while domestic buyers account for a majority of Savills country homes sales, the single biggest deal in each of the last three years was a cash purchase from the UK or US.

In addition, Savills note a greater level of interest from American applicants, many of whom are looking to purchase a piece of family heritage here in Ireland. High-net worth individuals from the UAE and the Far East are also now beginning to show an interest in the Irish market.

“Buyers at the top end of the price spectrum highlight location as a top priority,” said Harriet Grant, Head of Country Homes at Savills. “However, this group tends to be on the lookout for much grander homes with secondary accommodation and staff quarters, overlooking water, with 100 or more acres of mature parklands and, in many cases, adjoining equestrian facilities.”

Grant also reported that, unsurprisingly, 85 per cent of Savills country homes sales over the last three years have been cash transactions.

“Typically, country homes buyers are not reliant on mortgage finance. In reality, a trophy estate will only ever be attainable to a small minority, not only because of the higher price point, but also due to running costs. Therefore, it is little surprise that almost 85 per cent of Savills country homes sales over the last three years have been cash transactions.”