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2-bed apartments in Sandyford?

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  • 15-08-2007 1:32pm
    #1
    Theboinkmaster
    Registered Users Posts: 3,994 ✭✭✭


    Hello

    On review of myhome.ie I've noticed quite a few nice 2 bed apartments on sale for €380/390k.

    My questions are:

    - am I right in saying these asking prices were around €450k 18months ago and have therefore come down in value quite a bit?
    - these are likely to continue to decrease?
    - these are asking prices so selling price could actually be €10/20k less?

    Am I right in saying that for this area the no of apartments on sale is currently increasing as sellers refuse to admit the reality of a property decline so are holding out for unrealistic prices. After a few months, maybe at the beginning of 2008 sellers are going to recognise the current decline and therefore drop their asking prices resulting in a knock-on effect of decreasing prices in the area?

    Any thoughts would be greatly appreciated. My current situation is I'm 27, just about to move out of home and plan on renting for 2/3 years whilst saving for a deposit. Then hopfully be that time I can buy in this area for a decent price and not kill myself with a mortgage. I'm currently earning about €60k pa but in 2/3 years will probably be on €70-80k. I'd like to maybe get a 90% mortgage and want to save for the next few years before I buy, also allowing prices to decrease to a more affordable level. I want to buy by myself and not rent a room out as see this as no different to just renting.

    Again, any thoughts would be great, cheers


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    #2
    Theboinkmaster
    Registered Users Posts: 3,994 ✭✭✭Theboinkmaster


    74 views and no replies :p

    C'mon people! Does that mean I'm thinking the right way?


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    #3
    DéiseGirl
    Registered Users Posts: 392 ✭✭DéiseGirl


    Why are planning on moving out of home now to rent for a couple of years, are you being kicked out? I would have lived at home as long as possible if I could have. In three years my boyfriend and I spent an absolute fortune on renting. Had to be done in our case as we are both from different parts of the country and wanted to work in Dublin but if you can get away with it I would stick it out at home for a while longer :D


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    #4
    jubi lee
    Registered Users Posts: 292 ✭✭jubi lee


    well i'm selling at the moment elsewhere and the asking price is the selling price. i've done my sums as i'm sure a lot of sellers have and have worked out what is the absolute minimum i can sell it for without putting myself into debt. If you find somewhere you like, then make a sensible offer. Sellers know the state of the market and majority have priced accordingly. Asking prices aren't put up for the sake of it...

    as for the market, no one knows whats going to happen, it could stabilise and start increasing again or continue on in the same vain as it is currently.you also have to consider the interest rate hikes. if they keep increasing as is proposed, then mortgages may nopt be as affordable as you think they are


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