06 Jul 2017
You don’t need to be John B Keane to tell a great story about the town of Cahirciveen.
Picture this: after a devastating almost-decade of economic depression, a wealthy American comes to town and buys a local golf course. He then buys a hotel, gets the JCBs all fired up, and start digging the surrounding land.
He’s spreading the cash hugely, and he promises to turn around fortunes in the locale. Meanwhile, Hollywood ‘comes to town’ (or at least to Skellig island close-by), and starts filming the most successful movie franchise of all time... Star Wars, no less.
The story fits right into the pages of a John B Keane story; it’s all happening in Waterville, out along the Ring of Kerry from Ballinskelligs and Cahirciveen.
Bryan Paul Marsal of Alvarez and Marsel is the businessman investing millions in the Skellig Bay and Waterville Lake Hotel, and it’s working wonders for the local economy.
Denis Dwyer, manager of the local Cahirciveen EBS office notes that in this far-flung area on the Iveragh Peninsula “the huge issue is employment,” and he’s witnessing first-hand the impact of this investment at Waterville.
What does this mean for potential buyers? Well, there has been a pick up in the mortgage business, according to Denis, who reckons first time buyer momentum and mortgage inquiries are coming back a bit – although a lot of intending purchase is from locals, who are working in Dublin and Cork.
And it appears hopeful home buyers have been busy saving, he adds, so recent Central Bank restrictions and ratios aren’t causing too much woe for those looking to buy in 2016.
The good news for local buyers is that prices of property are well within the realm of the affordable.
Websites daft.ie and myhome.ie list 41 and 52 properties respectively with a Cahirciveen address**. However, the reach for buyers goes beyond the immediate Cahirciveen address, to spots like Valentia Island, or Port Magee, and to Waterville and indeed beyond again to Derrynane and Caherdaniel.
How much are homes in Cahirciveen?
Price-wise, the extended area has property for sale from house sites ranging from €25,000 upwards, and lots of houses from well under €100,000 if you broaden your search to town lands outside Cahirciveen. However, lots of these properties are older stock that require work.
Scanning the Price Register, it’s clear there hasn’t been a large volume of sales around Cahirciveen, this so-scenic section of the Ring of Kerry, but the pace is picking up on the wider front, and top sales are in the €200,000-€300,0000 category (there are also a cluster of holiday home off-loads, including eight alone in Derrynane).
With some of the country’s most beautiful views on its doorstep, Cahirciveen has an underlying demand for holiday homes, and EBS locally lends at up to 70% of value
There’s plenty of choice for first time buyers in and out along the Ring of Kerry from Cahirciveen, ranging from value houses in the town to sites for self builders for a fraction of that. There are also options in associated villages sub the €100k mark. Bungalows on individual sites can be bought from €100,000 upwards.
If you are trading up, or relocating (the decentralization move of the Department of Justice and Equality’s Legal Aid Board to Cahirciveen in the early 2000s brought a swell of new arrivals at the time), there’s still great value to be had, so deciding where and what to buy comes down to personal preference and how much driving you can do.
Tradeoffs include proximity to the more built up areas and to services and schools, in return for larger homes and great views.
For example, there are a few exceptional beachside properties on the market (so the kids can enjoy a day at the seaside every day – that’s entertainment sorted!). One property close to the town of Cahirciveen currently has a price tag of €535,000, but going on available sale evidence, that’s quite the exception.
If you choose to live along the Ring of Kerry, either side of Cahirciveen or above, you’ll most likely need a car, simple as.
But define commuter? In a spot like this, it’s all relative. You won’t have the M50, or the Red Cow roundabout, but you will have cows occasionally on the road (put there to reinforce tourist stereotypes, of course), and you might encounter a seasonal influx of tourist buses on your way along the Ring to or from home.
So, whether you work on the farm, or the Legal Aid Board, if you teach in a school, work in a supermarket or are involved in tourism, you’ll be behind the wheel of a car, or mini-bus, or a ferry most days.
But surely it’s not a high price to pay for the beauty of that daily route.
Want to buy a house in Ireland?
Before you go house hunting, it's a good idea to get your mortgage arranged – or at least discussed so you know where you stand.
If you'd like to talk through your mortgage options, book a 30 Minute Mortgage Meeting with Denis or one of the team in EBS Cahirciveen. You can also use our mortgage calculator to find out how much you may be able to borrow.
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Denis Dwyer Limited trading as EBS Cahirciveen, is a tied mortgage agent acting solely on behalf of EBS d.a.c . EBS d.a.c. is regulated by the Central Bank of Ireland.
The content of this blog is expressed in broad terms and is limited to general information purposes only. Readers should always seek professional advice to address issues arising in specific contexts and not seek to rely on the information in this blog which does not constitute any form of advice or recommendation by EBS d.a.c.
EBS d.a.c. neither accepts nor assumes any responsibility in relation to the contents of this blog and excludes all warranties, undertakings and representations (either express or implied) to the fullest extent permitted under applicable law.
* If we mention celebrities or businesses, we're not saying they love us. They secretly might, but it doesn't mean they endorse us.
**Figures correct as of May 2016, from Daft.ie and MyHome.ie