Why finding a dream getaway in Cork should be plain sailing
A series of boutique marinas is bringing new life to the villages of West Cork. Laura Latham on why now is the time to buy - whether or not you have a yacht
Wednesday, 2 May 2007
We've seen the tourist-board ads: unspoilt countryside for as far as the eye can see, a stunning coastline, friendly people and a great social scene. What's not to love about Ireland?
If that hasn't sold it to you, maybe the property available in the area will. Ignore, if you can, the functional-looking bungalows that populated the region and you'll find, instead, lots of traditional stone-built cottages, sea-gazing detached houses and an infiltration of slick, architect-designed contemporary pads, at prices that won't necessarily leave you gasping.
It's this combination that has led to the next logical step: a series of boutique marinas in West Cork that may prove irresistible for the sailing set - or anyone who enjoys the picturesque lure of boats.
West Cork, in particular, is starting to attract those who hunger for the better things in life, thanks to good travel connections to Cork City and the fact that the area has one of the best coastlines in Europe. Local property search agent Stephen Jeffery of The Property Finders says he's seen a distinct increase in the number of people attempting to escape the grime and crime of the UK.
"People come to buy holiday homes but there are also a lot wanting to move here for a better quality of life," he says. "People like the idea that it's a safe community, caring and friendly, and our roads and beaches are practically empty."
Jeffery has earmarked three coastal villages as hot right now because of new yachting marinas that have either been approved or are on the drawing board.
The first to get the go-ahead is Courtmacsherry, around 30 miles from Cork City. Work is soon to start on the marina here with an accompanying hotel. It will be a small-scale development in keeping with the area, and offering moorings for 200 boats. "And where boats go, money follows," says Jeffery. Prices around the village tend to sit at around £220,000 for a three-bedroom semi to around £280,000-plus for something detached with four bedrooms. There is plenty of Victorian, as well as more recently built, property on the market at this mid-price, and lots of larger homes with land costing upwards of around £345,000.
The two other quaint villages in the area also earmarked for marinas, though these are in the approval stages, are Schull and Glandore. Of the two, Jeffery thinks Glandore offers more opportunity, as it's nearer to the airport. In Glandore, traditional cottages cost around £140,000; in Schull, "bog standard" houses are priced around £205,000 for somewhere with a sea view, and tiny cottages cost between £69,000 and £110,000.
Jefferysuggests people could build a home from scratch. A half-acre plot would cost from around £140,000, depending on location, with a decent-sized house costing an average £55 per square foot to build.
But what about Cork City itself? Older parts of town are a mix of wonderful Georgian and Victorian architecture. Property here is hotly pursued and pretty expensive, says Jeffery. A three-storey Georgian townhouse would be upwards of around £550,000, while new property in a good location costs around £270,000.
With more overseas investors buying into the area, will this region lose its charm? No fear of that says Jeffery: "West Cork hasn't lost its Irish touch and never will."
Buyers' guide
* There's no stamp duty on new-build property if you hold it for five years. On older homes, tax is levied on a sliding scale of 3 to 9 per cent, depending on the price.
* The good news is that there is no council tax and no water charges. Because new-build is so popular with local buyers, there's a lot of good-quality character property on the market.
* Budget for 2 to 3 per cent on top of the purchase price to cover solicitor fees, land registry and local searches.
* The Property Finders: +353 (0) 23 46688; www.thepropertyfinders.com
