Property Madness Revisits Ireland

Have a look at the various European properties below which have a roughly similar sales price of  €400k ($436k, £339k). The feature appeared in today’s Irish Times with no commentary.

Now, which of these would you like to live in? The bungalow near Galway (look at it and imagine it’s a cold rainy day!) or the house in sunny Portugal with a swimming pool, or the 15th century French chateau? Or how about the house in Crete with views of the Med, or the stone house in Italy which has olive, almond and other fruit trees in the garden?

If your answer is the same as mine, which is all of them except the place in Galway, then I think you must agree that Ireland is well on the way up a property price spiral similar to the one that brought about near financial collapse in 2008.

And of course the government won’t do anything about it because rising house prices make existing property owners, i.e. conservative voters, happy.

And newspapers like The Irish Times don’t mind too much either because the ad revenue generated by property bubbles is not to be sniffed at, especially in these parlous times for old fashioned print products. Maybe that’s why the piece was published without comment.

So, expect the spiral to continue upwards. My advice to Irish homeowners? Sell if you can and take the place in Portugal. Come to think of it why the hell are we staying in Trump’s America when we could be swimming in a pool in Portugal?

The 191sq m house in Crete is on a slope, giving it great views
The 191sq m house in Crete is on a slope, giving it great views

In the village of Aptera, which dates to the Minoan era, this four-bedroom house has views of Souda Bay, Kalives Bay and inland to mountains. The 191sq m house is on a slope, giving it those great views from inside – mainly from a vast picture window in the living room on the upper floor – as well as from the terraces beside both levels of the house. There is parking for three cars and heating is solar powered.
Price: €400,000
Agent: Kritikoethos. com

Ireland: Galway

Re/Max is seeking €400,000 for this four-bedroom house on Coast Road, Oranmore, Co Galway

Re/Max is seeking €400,000 for this four-bedroom house on Coast Road, Oranmore, Co Galway

France: Poitou Charentes

The 15th century chateau in St Claud, France, has been renovated, yet period pieces remain
The 15th century chateau in St Claud, France, has been renovated, yet period pieces remain

Things are dramatic right from the entrance to this 15th century chateau where a stair sweeps up from the hall. While the chateau, in St Claud, has been renovated, period pieces remain, including stone fireplaces, a wood-panelled dining room and all six upstairs bedrooms, exposed stone walls, wooden floors, decorative plasterwork and a stone floor in the 66sq m medieval kitchen. The chateau looks to a courtyard in one direction and a garden with lake in another.
Price: €399,950
Agent: frenchestateagents.com

Italy: Apulia

The stone house in Apulia, Italy, has two bedrooms, a bathroom and two receptions
The stone house in Apulia, Italy, has two bedrooms, a bathroom and two receptions

Five minutes from Ceglie Messapica town, this two-storey stone house comes with trulli buildings in its garden, adding to the accommodation of 350sq m. The main house, in good condition, has two bedrooms, a bathroom and two receptions. The garden, surrounded by a dry-stone wall, has olive, almond, pine and other fruit trees. Brindisi airport is just over half an hour away.
Price: €400,000
Agent: Immobiliareprofim. com

Portugal: Albufeira

The 108sq m three-bedroom, four-bathroom home in Albufeira, Portugal, comes with a swimming pool
The 108sq m three-bedroom, four-bathroom home in Albufeira, Portugal, comes with a swimming pool

Close to the beaches at Oura and St John Fort, this house has a cool white aesthetic inside and out, with tiled floors and the odd exposed stone wall to add texture and tradition to the sleek interior. The 108sq m three-bedroom, four-bathroom home comes with a swimming pool.
Price: €399,000
Agent: Orbial.pt

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