Re: where to invest 50k-60k???
Hi Steven,
It's important to know that if you buy an overseas property, you will lose your FTB entitlements in Ireland, which are worth quite a bit - much lower stamp duty for most people, higher mortgage interest relief, etc. Most people would recommend that you buy a property to live in before investing anywhere.
If you do decide to invest abroad, be careful about buying where you are not familiar with. Buy where you know or at least spend a few weeks in any destination that you're interested in. I live in Eastern Europe and am familiar with Bulgaria but wouldn't dream of investing there without living in the country for at least a short while. Budapest is the same. Guessing which parts are a good investment is extremely risky without local knowledge.
If you use the investment as a holiday home, it can have added benefit and is more of a lifestyle decision than a financial one. Two sunny destinations, which (in my opinion) are beautiful are the Croatian islands close to Dubrovnik or Split and the coast of Montenegro.
Best of luck!
Budapest