Economic imperative being felt

For those from the home market who are getting financing, Daly sees that more and more of them are being driven towards purchasing by the developing economic imperative to do so that is starting to overcome the trepidation of many to enter a property market that seems so uncertain.

Simply put, it’s getting to the stage where it makes financial sense to buy regardless to what way prices go in the future.

“We also have quite a few first-time buyers coming into the market who wouldn’t have been there before. Many have been renting for a while and it’s come to the stage now where the price of a monthly mortgage repayment is nearly the same as a monthly rental, so we’re seeing a lot more activity from the first-time buyer market as a result – deciding that they might as well buy rather than rent.”

Farm land is selling particularly well in Kerry, with a growing appetite in this vibrant sector that is set to intensify over the coming three years or so.

Pat Crean describes this appetite to get it on Ireland’s rising star industry as “huge”. He also notes that the traditionally strong entrepreneurial spirit is alive and well in Kerry and is manifesting itself in the desire for small businesses in the commercial sector.

“Rents are still quite small,” he says, “but commercial leases are moving.” It has also helped that a new sort of pragmatism seems to have won through the restrictive phenomenon of the upwards-only rent reviews, according to the agent.