Buyers warm to the idea of a place in the sun

It was hot, humid and sometimes hectic but almost 1,000 people braved the sticky environs of the Burlington Hotel in Dublin in the hope of finding their dream overseas home. An air-conditioned home, some could be heard to mutter, as they sweated their way through the stands of the World Wide Property Show.

The show has travelled as far away as Hong Kong and Abu Dhabi and last weekend it was Ireland's turn to check out the property scene in southern Spain, Florida, Portugal - and England and Scotland.

"Five years ago, buying overseas was a luxury, a scary luxury, for Irish people, but that is no longer the case," says Mike Ridge, who organised the exhibition that arrives in Cork tomorrow.

These shows have become a regular feature on the Irish exhibition calendar and overseas property veteran Alisdair MacDonald, of Spanish-based company Ocean Estates Marbella, has witnessed the market grow. "Since the Bacon Report was published, we have been getting so much more interest from investors because the market seems to have reached a ceiling in Ireland - people are also very aware of the overseas market now," he said.

In addition to the glossy photos of heavenly homes on display, there were people on hand to give practical advice on the complicated legal process of buying abroad. Kidston's Properties, for example, was a one-stop-shop for anyone wishing to buy in the UK. MD Ken Gerbier added colour to the show by dressing in full Scottish regalia, complete with sporran and kilt.

His sales patter wasn't quite as impressive as he explained why people "not from the mainland" - i.e. Irish people - required a service like his that finds, funds and manages properties for clients. Barely recognising his faux pas, he went on to say there was lots of "high net" people around who were interested in houses from anywhere between £500,000 and £2 million.

At Tenerife Developments, Ken Murphy was busy informing punters about the island's enviable climate. "It's naturally sunny and there is guaranteed sunshine in the wintertime," he said. Warming, literally, to his theme, he pointed out that Tenerife was on the same latitude as Florida but was "minus the mosquitos and minus the hurricanes".

The threat of mosquitos or hurricanes wasn't putting many people off Mickey Mouse territory, as Anne Brazier from Trapp Florida Property Sales and Rentals testified. "We haven't stopped all day," she said.

One young couple in their mid-20s had just snapped up a Grand Lagoon home overlooking a golf course which set them back £95,000. Another couple bought three houses from her "just from seeing the photographs", she said.

"I think the intense interest in Florida can be put down to the fact that there is an assured rental income all year round. There were 43 million visitors into Orlando airport last year and all of these people need accommodation," she said. After 28-30 weeks' rent, the mortgage holder breaks even and "anything over that is gravy, as we say in the business".

Ms Brazier's perception of the Irish market has changed considerably since she was here a year ago. "To be honest, I didn't see any point in coming here then, I didn't think the Irish had any money. But I was gobsmacked with the response," she said.

Hovering around Jill Kennedy's stand - a Dublin-based company that sells mainly in southern Spain - was Ann Colhoun, a computer operator and mother of three from Churchtown who with a budget of £50,000 to £60,000 was looking for a two-bedroom apartment as "an investment for the future". Prohibitive prices in Dublin meant that she was not able to buy a second home here, she said.

Many of those who attended the show were first-time property buyers, about to find themselves in the unusual position of owning an overseas properties before buying in their own country. Accountant Tom Colton (24) and his girlfriend Linda Barden, a banker, had been put off buying here because of the rising prices. "There is absolutely no way we could buy here at the moment," said Tom. The couple were looking for property worth around £40,000 as an investment but also to enjoy as an occasional holiday home. The rental income, they hoped, would help them to get on the first rung of the property ladder at home.

For others, it was a question of adding to an already extensive investment portfolio. According to the exhibition organiser, Mike Rridge, the multiple buying of higher priced properties was a growing phenomenon in the Irish market. There was an increase in properties in the £150,000 and £200,000 bracket being purchased.

One Dublin accountant said that he and his partner already owned several properties and were looking for something to start their overseas portfolio. "There is no way I would have thought I would be doing this two years ago, but now buying overseas is just like buying a place in Wexford - it's no big deal," he said.

The Worldwide Property Show continues its Irish Tour tomorrow and Saturday when it visits the Fitzpatrick Silver Sands Hotel in Cork.