If you just want it to scoot down to the shops and such then it doesn't really matter all that much I suppose. You can get a bog standard bike for about €100 new, but you might want to go for a middle of the road (not literally ) one as the cheap ones tend to depreciate much quicker if not cared for I've found. A reasonable second-hand bike should cost €50-€70, and is the best option if you just want one for intermittent local use.
On the other hand if you plan on going on longish cycles then you'd probably want more of a road bike - one with bigger wheels and narrower tyres so that it covers the ground faster. You can get a decent, new one of these in Ireland for maybe €180 or so. In terms of marque I couldn't be all that sure (I think Bluebeard is the resident expert - he reads cycling magazines!) but I'd imagine there's a close correlation between price and quality given there isn't really the same social status attached to what brand of bike you have (once you're over 14 of course).
In terms of what to look out for, I think a comfy saddle is paramount. Number of gears isn't really relevant. If you're a small enough fella you might want to make sure you're not buying a very big bike, and vice versa, but anyway, you should go for a test spin before buying to make sure the bike cycles pretty smoothly and that you generally like the feel of it.
Overall, I'd strongly encourage a purchase. Admittedly pedals have almost been outgrowths of my feet for as long as I can remember but cycling really is a great, fun, easyish way to keep fit, especially if running is hard on your joints. Oh and if you're in the Kerry area around the 5th of July then you must join me for a charity cycle around the beautiful (mere 100 mile) Ring of Kerry!
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