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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
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Ireland: Still Good for InvestorsThree years ago we called the investors' attention to one particular European country - Ireland. Then we concluded that this real estate market could compete with the shares on the NYSE*. That was a very bold statement but it reflected the facts. A year and a half later we still suggested that Dublin was the hottest market for investors in Europe**. Stock exchanges around the world were badly bleeding but real estate in Ireland was continuing to grow. Many economists once supported the theory that the major reason for this phenomenal growth was the software industry. So more than three years after the dot.com companies began to dwindle, we again turn our eyes toward Ireland to see what's going on there. The golden years when Ireland matched the growth rates of China may be over, the high-tech exports have been badly hit, but this doesn't mean that real estate is in crisis. To the contrary, recent statistics suggest that the annual price increase has reached 15% earlier this year after a more modest rise of 9% last autumn. The prices rise quicker in Dublin and for old houses than in the rest of Ireland and for new houses. A moderate, by local standards, price increase of 10% is expected to occur in the next 12 months. The average price of houses sold in Ireland last month was 210,000 Euro, 280,000 Euro in Dublin and 180,000 Euro in the rest of the country. For the investors coming from the United State the increase in the last 3 years is even bigger because the common European currency gained 20% against the dollar***. Residential rentals in Dublin during the last 12 months have decreased by 4%. Today 1BR apartment in South Dublin can be rented for 1,000 Euro. The same size house in North and West Dublin is rented for 850 Euro. Calculating the price of the house the investors must add at least 3% for the progressive stamp duty, but given the actual prices for the 2-3BR homes, this duty will be at least 5%. People wishing to settle down in Ireland should be divided into three groups by nationality:
Another major problem for some sun-loving foreigners is the climate. The high humidity protects the country from the cold winters and from the hot summers. The temperatures in Ireland rarely drop below the freezing point and only occasionally can reach as high as 80's. The main remedy for the rainy weather is the Irish pub. As one popular Irish saying reveals, "It doesn't rain in the pub".
---- ** - Real Estate market growth in Dublin *** - 1.00 EUR = 1.12 USD
Country profile: --------------------
See also the directory of companies providing real estate services in, and general real estate information of Ireland.
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