Ireland tops global league table for residential property returns in 2024 

A new global ranking of residential property markets has placed Ireland as the top destination for property investment in 2024.

A new global ranking of residential property markets has placed Ireland as the top destination for property investment in 2024.

The index, compiled by Housearch, evaluates the investment appeal of property markets across 50 countries, highlighting European nations such as Cyprus (2nd), Malta (6th), Bulgaria (10th), and Portugal (12th) as key players for investors.

Why ireland leads the way

Ireland’s strong economic performance, resilient housing market, and robust legal system have propelled it to the top of this new global index. A shortage of housing supply, a lingering effect from the 2008 financial crisis, has driven both house prices and rental yields upwards. Currently, Ireland boasts a gross rental yield of approximately 8.5%, the highest in Europe and the third highest globally.

Over the past decade, Ireland has seen consistent property price growth, with a Compound Annual Growth Rate (CAGR) of around 7%, bringing the median house price to €323,000 in October 2023. The housing market remains attractive for buy-to-let investors seeking both strong rental yields and long-term capital appreciation.

expert analysis: investment opportunities in 2024

Mark Wilson, spokesperson for Housearch, commented on Ireland’s appeal: “While many global property markets are cooling due to higher interest rates, Ireland stands out for its combination of high rental yields and lower risk, even after tax adjustments. There’s a real opportunity in 2024 to capitalise on a dip in price growth, following factors like the cancellation of the ‘golden visa’ programme for non-EU buyers.”

Wilson also warned of potential policy changes in the near future: “As the Irish government tackles housing affordability, they may follow the UK’s lead, which introduced a stamp duty surcharge for foreign buyers, or even Canada’s recent ban on foreign investment in residential property.”

europe’s other investment hotspots

Cyprus ranks second in Europe, with average gross rental yields of 5.0% to 6.0%, making it another standout destination for investors. Malta, Bulgaria, and Portugal also feature prominently in the top 12, each offering distinct advantages for those looking to invest in European property.

Portugal has seen steady house price inflation, with an 8.17% rise in the year to October 2023, according to data from the Instituto Nacional de Estatistica. This consistent growth, along with solid rental returns, continues to attract overseas investors.

housearch: a global property investment platform

Launched in 2022, Housearch is a leading online platform specialising in residential property, with a focus on new-build homes sold directly by developers. The platform currently showcases over 4,000 properties in popular investment destinations such as the UAE, Turkey, and Thailand. The Housearch Investment Index provides detailed insights for private buy-to-rent investors into the risks and rewards of investing in foreign property markets.

The full Housearch Investment Index and comprehensive country rankings are available on housearch.com/markets.

meta description: Discover why Ireland is the top residential property investment destination for 2024, with high rental yields and strong price growth. Explore Europe’s best markets in the latest Housearch Investment Index.