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Making and buying a house in Ireland

by marusia

Buying property in Ireland for foreign investors is not difficult. The real estate agency will explain to you in detail how to buy a villa or apartment in the country.

The purchase process begins with the conclusion of a preliminary contract. Next, a security deposit is made, which usually amounts to €5000-6000. If one of the parties refuses to carry out the transaction, then the deposit is returned in full.

Ireland is allowed to conclude a contract for the sale of real estate through a third party. So you do not have to be personally present at the signing of the contract, this can be done by an attorney.

Next comes the process of checking the property for the absence of debt or other obligations, preparing related documents in government agencies. The contract is signed upon completion of all checks and after obtaining a loan, if necessary.

When buying a land plot on the territory of the country, it is necessary to obtain permission from the relevant ministry. Do not need a permit:

  • Irish citizens;
  • persons who have citizenship in the countries of the EU and the European Free Trade Association;
  • persons residing in the country for more than 7 years.

You can get an exemption on the payment of an annual property tax of 5-10%, for the entire repayment period of the mortgage loan.

You can apply for the purchase of real estate on credit in Ireland only after 4 years of legal residence in the country. You can shorten this period by obtaining a residence permit in the country or by marrying a citizen of the country.

Lending terms:

  • loan amount from 40% to 60% of the total cost of the object
  • the average rate is 3.2% per annum

The amount of utility bills varies greatly depending on the type of housing and locality.

For example, in the capital for gas, water, waste disposal and electricity, you will have to pay about €100-150, while in other cities of the country this amount will be about €80-140 per month.

Since 2013, the country has introduced a new property tax, the amount of which is 0.25% of the cadastral price of the object. The tax does not apply to new property.

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