People look to escape from cities where cost of living is higher as they work remotely
In the growing context of COVID-19, people are leaving the office and preferring to work from home, as suggested by the Government. Many people move to larger cities considering the travel distance to their office. But now that they’re working from home, they no longer need to live in cities where the cost of living is higher. Therefore, people are leaving the big cities and migrating to the cities where the cost of living is lower for a better lifestyle.
Niall Browne, one of Galway’s leading auctioneers, told the Connacht Tribune that shifting to remote work was encouraging both former and new Galway residents to look for property in city and county.
“There are people coming from Dublin and further afield, from places like London, because they can now work from home,” Mr. Browne said. Mr. Browne added that, a quarter of people who want to buy property in the city are people outside of Galway.
He says there is currently a huge demand for property as a recent survey by the Real Estate Alliance predicts that housing costs in Galway City will rise by 8% and county prices by 4% by 2021. Mr. Browne said that a lot of people are sending emails to find out what is currently available here and what is to come.
At the same time, the rise in prices in Galway City is encouraging buyers to move to cities such as Moycullen, Barna, Craughwell, Oranmore, Clarinbridge, Furbo and Spiddal.
“You have a lot of people that were originally from Galway, but moved to Dublin for work and now they’re coming back with their families. Being able to work from home is a big part of that, but they might also have family here that can help with childcare, Mr. Browne said.
“The rent in Dublin is also a big factor. If someone is buying in Craughwell, the mortgage might be €1,000 per month, where they might be paying €1,600 to €1,800 in rent for a small apartment in Dublin – and that mortgage would be for a fine big semi-detached property in Craughwell,” Mr. Browne added.
Kindly click the link below to join WhatsApp group chat to get important news and breaking news from Irish Samachar
Comments are closed.