Buying house or land in Ireland

[bmwmike]

Hi

Have family in south east of Ireland and as we visit often was thinking of buying a place there. Land might work too as long term may well end up back there. Plus I like the idea of owning a field or paddock.

Does anyone know if I'd do that via a UK bank or an Irish bank? I am UK resident and earn GBP at present.

Not really asking about the EUR:GBP angle just the logistics at this stage..

Thanks
Mike

[Eric Mc]

I think anybody buying land or buildings in an EU country at the moment needs to be very careful.

[Du1point8]

Eric Mc said:

I think anybody buying land or buildings in an EU country at the moment needs to be very careful.

Can you elaborate on that?

We have 40 hectares of forest in an EU country.

[Eric Mc]

Simply down to the uncertainty that Brexit currently creates. We don't know how British owners of land in other EU countries will be treated when everything is settled.

[bmwmike]

Eric Mc said:

I think anybody buying land or buildings in an EU country at the moment needs to be very careful.

Likewise you could argue that anyone owning a large majority of their assets in a soon to be non-EU country needs to be very careful

[Ructions]

bmwmike said:

Hi
Have family in south east of Ireland and as we visit often was thinking of buying a place there. Land might work too as long term may well end up back there. Plus I like the idea of owning a field or paddock.
Mike

Most building sites come under the 'local needs' rules, tread very carefully. If land/site seems cheap, it is cheap for a reson. Do NOT take anything the local planners tell you as gospel, even if you get it in writing. There are ways around it but they can be expensive and time consuming.

[Eric Mc]

bmwmike said:

Eric Mc said:

I think anybody buying land or buildings in an EU country at the moment needs to be very careful.

Likewise you could argue that anyone owning a large majority of their assets in a soon to be non-EU country needs to be very careful

ANY large expenditure will come with associated risks. The main thing is that the person who intends to make that expenditure is that they are -

a) aware of the risks
b) are happy to make a decision based on those risks

The problem with Brexit is that the risks are largely unknown at the moment - and won't be known for a while.

[Ean218]

Eric Mc said:

Simply down to the uncertainty that Brexit currently creates. We don't know how British owners of land in other EU countries will be treated when everything is settled.

Eric, pardon my French, but that is utter balderdash. They will be treated just as American and Chinese buyers are now, ie exactly the same as us. Taxation is an issue, but it is anyway.

The only danger to be aware of is that Brexit may be triggering the collapse of the EU and there may be a significant potential of a property price crash, but nothing whatsoever to do with the nationality of the purchaser.

[Eric Mc]

How do you know?

Can you read the future?

[Ean218]

Eric Mc said:

How do you know?

Can you read the future?

It's not me, you seem to be forecasting some sort of doomsday scenario where British buyers/expats, in particular, are somehow picked on and closed out of the EU market, whilst the whole rest of the world carries on buying stuff with impunity.

My grandfather owned property in Spain and France before the EU as did many others.

It is quite clear that that is not the future. Sure there are very many things to worry about when buying foreign property, but that is not one of them.

[Eric Mc]

So - you ARE predicting the future.

I thought so.

I'm precisely saying the opposite. I don't know what the future holds in respect of Brexit. If you already know what the situation will be for post Brexit British owners of EU land will be, maybe you are wasted posting on a forum and should be advising Mrs May.