A bumper year saw 168 high-end country homes change hands in Ireland in 2024 as demand for prime properties outside the M50 defied expectations of a slowdown in activity, Savills Ireland has said.
In a report, the property agent said a desire among younger buyers to trade up to larger properties coupled with a trend among older property owners looking to downsize were the primary drivers of the market last year.
Savills analysed Property Price Index data relating to prime country properties outside the main cities and the Dublin-adjacent area of north Wicklow that sold for more than €1 million.
The research revealed the total value of sales in this category jumped by 44 per cent to €275 million in 2024 from just over €190 million the previous year.
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While the total reflects some top-end properties changing hands, including billionaire Jamie Dyson’s €29 million purchase of Ballynatray House and Demesne in Cork, the average deal size last year was €1.6 million. This indicates that the increase in total sales value was driven primarily by a large increase in transaction volumes, Savills said.
“The 44 per cent growth in transaction value this year is a testament to the enduring appeal of Ireland’s prime country homes,” said Cianan Duff, associate director at Savills Ireland. “Buyers continue to value the unique combination of luxury and privacy that these properties offer.”
Co Cork was the most popular location for buyers looking for a prime countryside bolt-hole, accounting for 31 per cent of total sales by value – or €84 million – last year across 35 transactions. The average deal size, excluding Ballynatray House, was €1.6 million.
“Cork has particularly stood out this year as a prime destination for high-end residential buyers,” said Catherine McAuliffe, director of Cork residential at Savills.
Kildare, where the 484.02sq m Huntsman House near Naas in Co Kildare sold for €1.5 million to an unnamed buyer in January 2024, accounted for a quarter of the total value of sales.
Savills said demand for prime country homes last year “defied expectations” that the post-pandemic return to the office would dampen demand for properties in more remote locations.
“The most popular locations, including Cork, Meath and Galway, tended to be within commutable distance of international airports and city centre business districts – a feature which facilitates hybrid working,” the estate agents said.
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