Atlantic Seaboard property rides a wave of growth in 2022
Despite an uptick in interest rates and subdued global investment sentiment, the Atlantic Seaboard property market has been riding a wave of positive growth in 2022.
The surge in activity can be seen across the board, from investors looking to capitalise on the revived short-term letting market, to Europeans purchasing a pied-à-terre to settle into for the summer months. Notably, semigrant purchasers have also burst back onto the scene in 2022 which is fuelling demand, particularly in the full title segment of the market.
New developments in the Atlantic Seaboard area have also enjoyed healthy demand, particularly in the micro-living space. Here, units can range between +/- 15-30 square meters for a studio or one-bedroom unit and +/- 35-65 square meters for a two-bedroom. The micro-living theme has fast become one of the most popular development trends worldwide. From an affordability perspective, it hits the sweet spot and optimises space in dense areas.
In the first quarter of 2022, properties sold roughly 20-30% quicker than in 2021. The last time the market experienced such a notable increase was in 2015 when the property market turned sharply from a buyer's market into a seller's market.
Quay 1 International realty area specialist brokers have been experiencing high purchaser demand in the Atlantic Seaboard with low inventory levels prevalent.
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