Ireland at the top of buy-to-let market

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Ireland has the highest European average rental yield of 6.54% for buy-to-let investors.

In November 2016, World First, the currency expert, published its European Buy-To-Let list based on expected rental yields. Ireland is at the top with 6.54%, with the Netherlands second on 6.35% and Portugal third at 6.33%.

The UK is at number 15 which, despite commercial mortgage interest rates being high and property investments slowing down following the raising of stamp duty and the changes in tax relief, is a rise of six places from last year.

Ireland is the sixth fastest growing economy in the world. Many people have recently moved to the country and are looking for rental accommodation. A one bedroom apartment costs on average £11,000 a year, which is the second highest rental level in Europe, behind Luxembourg at £14,000.

The World First list also highlighted the difference in rents between urban and rural areas. The gap is widest in Turkey, where city rents yield 6.7% compared to rural rents of 5.71%.

Edward Hardy of World First said that the decreases in the British buy-to-let market means that investors are looking outside of the UK for buy to let investments. He explained:

“Savvy investors need not look too far afield for great returns. The resurgence seen in the Irish economy over the past few years has buoyed its property market and in particular its rental sector. The arrival of global tech giants like Google, Facebook and Microsoft have pushed rent prices up.”

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