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Hot climates entice Irish property investors
June Edwards



MOST people looking for a second home want one in the sun - but far from being a personal bolthole abroad they want it as an investment.

Some 91% of potential Irish investors are looking abroad to countries with sunnier climates, according to recent research from RT�?'s House Hunters in the Sun magazine.

But surprisingly, 71% of this 91% would like to visit the property once a year, indicating that Irish investors are a canny lot, not just in it for the sun, sand and sangria!

The information which was drawn from a survey of over 6,000 readers of House Hunters in the Sun also revealed that 78% are looking to spend between �?�50,000 and �?�150,000 on a new or second-hand property in good condition, in a sunny country and easily accessible to Ireland.

The majority of potential buyers, 45%, still hope to buy in the traditional markets of Spain, Italy and Portugal, while 40% are househunting in the emerging markets of Bulgaria, Poland and Turkey.

Of those surveyed, 46% are looking for overseas property already, while 54% are preparing to start looking, mainly when SSIA accounts start maturing.

But it's not all plain sailing, with 25% of wouldbe buyers expressing concerns about possible legal issues related to buying abroad, while 29% worry about making a poor investment choice.

But a lot of the holidayhome mania is blamed on the weather, with 39% of respondents claiming they holiday in warmer climates than Ireland's.

The House Hunters in the Sun property show, which opened on Friday and finishes tomorrow at 5pm, is on in the RDS Simmonscourt.




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