Investment Property in Galway

[snowey]

I am due to move to Galway shortly with work and am looking at purchasing a property to rent out for the long term. Would anyone have any suggestions for good areas to buy in as prices seem to vary alot - thanks in advance!

 

[nanogoo]

I too plan to move to Galway sometime in the next year or so. The areas that I would consider would cover areas close to the coast.

For instance, areas around the city - Merlin Park Area ( property off the main dublin road on the way in towards the GMIT. There are some nice property pockets offset off the main Dublin road.

Oranmore - very popular area with beautiful scenery.

Clarinbridge - well known for the Oyster festival, generally a good area.

Others after that then would be Barna/Salthill/Spiddal/Carraroe

It all depends on which side of the city you would be working in to as Galway traffic can be very heavy and having to cross the city would get very tiring after a short time.

 

[snowey]

Thanks Nanagoo!


There is an interesting piece in todays property section of the Times on a 4 bed town house in Merlin - the article mentions that there are new developments expected in this area which could reduce rental returns. On the face of it, returns in Merlin etc look like they are better than in typical rental areas in Dublin, Rathmines, Ranelagh etc.

 

[Dunners]

There have been previous posts on this subject if you get a chance to search around...

Merlin & Roscam are all very new, massive estates which have also been earmarked for social housing.

Oranmore & Clarinbridge are indeed beautiful but a little too far outside town as a rental prospect.
If you're only interested in renting a property out and not living there yourself, I would recommend Renmore / Ballybane /Newcastle/Ballinfoyle for students & nurses or city centre for general professionals.
Salthill and Barna are also lovely but on the expensive side... Carraroe is way too far out for rentals...