Global events shaping evolution of West Cork's property market into 2025
In Sold Market For Joint P Na Off Glandore Forde 25m Agents €2 Hodnett Nog Tir Via Mccarthy 2024 Charles And
Reflecting on the past year in the West Cork the property market continues to be as diverse as the region’s stunning scenery. While our firm’s sales of properties over €1 million doubled compared to 2023, this success is tempered by a persistent shortage of well-prepared, sale-ready stock. The emphasis here is on "sale-ready."
Too often, properties come to market without being fully prepared from a legal and structural standpoint. Important steps, such as securing a Certificate of Compliance and ensuring the legal title is fully documented with a solicitor, are sometimes unwittingly overlooked. When these elements aren’t addressed in advance, it can result in delays or, in more unfortunate cases, sales falling through. These issues are frustrating for all involved — sellers, buyers, and agents alike. The reality is that a property’s appeal goes beyond aesthetics; its legal readiness is just as important. Ensuring a property is fully prepared can prevent unnecessary stress, delays, and disappointment.
This point becomes even more relevant as property chains become more prevalent in Ireland, a shift largely driven by the lack of rental accommodation. With many buyers needing to sell before they can buy, chains have become a more routine part of the sales process. Unlike in the UK, where chains are common, Ireland is still adjusting to this development.
Successful property chains rely on each party being ready at the right time. When legal or compliance issues arise, it can slow everything down. Learning from the UK’s experience, Irish sellers and buyers can benefit from being better prepared and proactive. While chains are sometimes seen as a challenge, with the right approach, they can become a manageable part of the process.
A house by Raheen Cstle made
The cost of renovation and refurbishment has become a significant factor in buyer decision-making. Previously, homes in need of renovation were seen as an affordable entry point, but today, the reality is different. Even with support from the Vacant Property Refurbishment Grant, the final cost of renovations is often far higher than expected. Quantity surveyors' estimates have surprised many potential buyers, causing a clear shift in demand toward properties that are move-in ready.
This shift is most evident in the growing demand for energy-efficient homes. Properties with strong Building Energy Ratings (BER) are now commanding a premium, with B2 or higher becoming the gold standard. Buyers, especially first-time buyers and young families, are now weighing energy efficiency as heavily as they once considered features like south-facing gardens or proximity to local amenities. This has resulted in a two-tier market where energy-efficient homes experience higher demand and increased competition, while properties requiring significant work see slower sales.
Energy efficiency is no longer just a “nice to have” — it’s becoming a necessity. Buyers are more aware of rising energy costs and potential future regulations on energy use. Sellers who invest in energy upgrades, such as better insulation or modern heating systems, are finding that it pays off in the form of faster sales and higher prices. For vendors, it’s worth considering what simple energy upgrades might improve their property’s value and appeal in this changing market.
The West Cork property market doesn’t operate in isolation. Global events have played an influential role in shaping buyer behaviour. The re-election of Donald Trump in the U.S. has had a noticeable impact, sparking increased interest from American buyers. For some, West Cork represents a peaceful retreat from political turmoil abroad. With its stunning coastline and welcoming community, the area appeals to those seeking a lifestyle change. Inquiries and viewings from U.S.-based buyers have increased, and with the dollar currently strong against the euro, this trend may continue into 2025.
Closer to home, changes in UK tax policy are having an impact as well. The recent UK budget announcement of higher stamp duty on second homes is prompting some British buyers to look at Irish property as an alternative. While Brexit continues to affect buyer confidence, this tax change could tip the balance in Ireland’s favor, especially in desirable areas like West Cork. Coastal properties, which are already in high demand, may see even more interest from this buyer pool.
Domestically, Ireland's 2024 general election has brought a sense of stability, offering reassurance to the property market. While some countries have seen political shifts to the far left or right, Ireland has taken a more measured approach. However, housing policy remains a key area to watch. While politicians often make ambitious promises during elections, it’s the delivery of practical, achievable housing measures that will ultimately shape the market. Buyers and sellers alike will be watching to see how new housing policies unfold.
Coastal towns and villages remain the shining stars of the West Cork property market. Waterfront properties, in particular, continue to outperform expectations. This space is largely dominated by cash buyers and international purchasers with competitive bidding becoming the norm in this segment. These properties attract a mix of buyers seeking second homes or lifestyle changes. The combination of scenic beauty, relaxed living, and access to coastal amenities has proven irresistible.
Predicting the property market is always difficult, and 2025 is no exception. The market is shaped by many moving parts, from global economic shifts to the unpredictable nature of property chains. That said, one thing remains clear: waiting for the “perfect” moment to buy or sell is rarely a successful strategy. Over the years, many have tried to "time the market," only to find that prices have moved against them. Property transactions are often driven by life decisions — such as work, family, or health — that don't wait for market conditions to align.
If you’re considering a move, the key is to be prepared. Buyers should have their finances arranged and ready to go. Sellers should ensure their property is fully prepared for sale, both legally and structurally. This means confirming the legal title with a solicitor, obtaining a Certificate of Compliance (if required), and being ready for any inspections that may come from solicitors or surveyors. These steps are the difference between a smooth, efficient transaction and one that becomes prolonged or uncertain.
The West Cork property market will always have its ups and downs, but it remains a place of opportunity for those who approach it with the right mindset. The area’s natural beauty, quality of life, and timeless charm continue to draw interest from buyers at home and abroad. While limited stock and growing demand for energy-efficient homes present challenges, they also offer clear opportunities for sellers to add value to their properties.
For sellers, preparing a property properly before listing it on the market is one of the most important steps they can take. Ensuring that legal documentation is complete, title issues are resolved, and any compliance certificates are in place can prevent unexpected delays or complications. For buyers, having mortgage approval and deposit funds ready can mean the difference between securing a property or missing out.
Looking ahead, energy efficiency will continue to be a key factor influencing buyer decisions. Properties that offer strong BER ratings will stand out in a competitive market, with growing demand from environmentally conscious buyers and those looking to reduce long-term living costs.
Meanwhile, the global stage will continue to play a role in shaping the West Cork market. Increased interest from American and British buyers, combined with ongoing demand for coastal properties, means the West Cork market is likely to remain active. Sellers of waterfront homes and energy-efficient properties will be particularly well-positioned to benefit from this demand.
As 2025 approaches, flexibility, preparation, and patience will be the key ingredients for successful property transactions. By being proactive, buyers and sellers can position themselves to achieve the best possible outcomes. For those considering a move, the best time to act is when you’re ready — not when you think the market will be "perfect."
If you’re prepared and focused, you’ll be ready to take advantage of whatever opportunities the year ahead may bring.
Maeve McCarthy, Assoc. SCSI, MIPAV heads up Charles Mccarthy Estate Agents in West Cork