Sharp increase in US buyers purchasing high-end Irish properties

Roseanne De Vere Hunt, director of Sherry FitzGerald Country Homes, Farms, and Estates revealed that half of all high-value homes sold over the past six months have been sold to international buyers.

“Since September 1st, 2022, 50 percent of buyers were international,” De Vere Hunt told the Irish Times.

She said the majority of those buyers were from the US, adding that a number of buyers were Americans connecting with their Irish heritage.

However, a significant portion of US buyers had no ancestral connection to Ireland and instead chose to purchase property because of a favorable exchange rate and the fact that there is no additional taxes for overseas buyers.

De Vere Hunt also said US buyers are attracted by Ireland’s tranquil settings and peaceful countryside.

She added that the number of people who visited the Sherry Fitzgerald Country Homes website from the US rose by 42% in the past year.

Ray Palmer-Smith, the director of estate agent Knight Frank, noted a similar rise in interest among US buyers.

“Inquiry levels from US buyers have increased substantially since the beginning of lockdowns in 2020,” Palmer-Smith told the Irish Times.

He added that Knight Frank has agreed five sales with US buyers in 2023, with asking prices ranging between €1 million and €3.5 million.

Real estate agent Savill’s has also noted an uptick in interest from overseas buyers, stating that there was an 87% increase in traffic from the US in 2022.