Daft.ie, totally unrealistic asking prices

BenEadir

awec wrote: »

The problem is that it seems that all landlords have these ridiculous prices that are evidently vastly inflated. If they all hike prices then what choice do potential tenants have?

Maybe because they are renting out less properties these days they are trying to get as much loot for the ones they do rent.

I would happily pay 700-800 a month rent for a 1 bedroom apartment in Dublin 18. 1000 a month though, not a chance. Ridiculous prices and IMO it's time they got real.

I understand your frustration Awec but if you work through the logic you'll (hopfully) conclude that a rental agreement can only EVER take place where there is an overlap between the rent the landlord is prepared to accept and the rent a tenant is prepared to pay.

He wants €1,000 a month, you'll pay €800. So do you just get onto a forum like this and have a moan or do you try and make the deal work for you? Why not offer €800 and see what the reaction is? If he drops to €900 but your €800 is an absolute firm maximum then state that politely and ask is there anything else you can do to get agreement? Would you commit to a longer rental period thus giving the landlord increased security and peace of mind? He might drop another €100 a month if he knew he had a solid tenant in place long term.

Don't give up, get creative. If everyone just digs their heels in there will be a lot of empty properties and a lot of wannabe tenants not getting to live where they'd like to live. A lose lose for both parties.

Ben

awec

BenEadir wrote: »

I understand your frustration Awec but if you work through the logic you'll (hopfully) conclude that a rental agreement can only EVER take place where there is an overlap between the rent the landlord is prepared to accept and the rent a tenant is prepared to pay.

He wants €1,000 a month, you'll pay €800. So do you just get onto a forum like this and have a moan or do you try and make the deal work for you? Why not offer €800 and see what the reaction is? If he drops to €900 but your €800 is an absolute firm maximum then state that politely and ask is there anything else you can do to get agreement? Would you commit to a longer rental period thus giving the landlord increased security and peace of mind? He might drop another €100 a month if he knew he had a solid tenant in place long term.

Don't give up, get creative. If everyone just digs their heels in there will be a lot of empty properties and a lot of wannabe tenants not getting to live where they'd like to live. A lose lose for both parties.

Ben

Fair enough post, I shall have to try.

Now, you got any 1 bedroom apartments in sandyford? :D

Ray Palmer

desertcircus wrote: »

Maybe not 80k, but there's no reason why half the houses in the country shouldn't be about three and a bit times the median wage, which is about 25-27k. If banks won't lend over 3x salary, that's how much houses will go for.

There kind of is a 3 bed house is a family house which normally means 2 people working. No reason to assume anybody on the median wage can buy a 3 bed house on their own in a nice neighbourhood. Nice neighbourhood means the people there earn more than the median wage too. No reason a single person on a median wage won't be able to afford a one bed appartment though in a reasonable area.

BenEadir

awec wrote: »

Fair enough post, I shall have to try.

Now, you got any 1 bedroom apartments in sandyford? :D

Sure, for €1,200 a month

Here's a relative bargain in terms of location. It's a 2 minute walk to Stillorgan Luas so right on the edge of Sandyford. http://www.daft.ie/searchrental.daft?id=1133129 - I know the area (It's very nice) but didn't think there were any apartments there. It might be a converted house or something. Ask before you spend time viewing.

What about any of these? Not Sandyford but pretty close and all nice looking properties in good locations

http://www.daft.ie/searchrental.daft?id=1127365

http://www.daft.ie/searchrental.daft?id=1106864

http://www.daft.ie/searchrental.daft?id=1126619

http://www.daft.ie/searchrental.daft?id=1130572 - a first letting!! The owner will be keen to get it rented. If you can present yourself as responsible and caring they might do a deal as they won'twant their nice shiny apartment wrecked on it's first rental

http://www.daft.ie/searchrental.daft?id=1126173 - This is an amazing location. Literally 100m from the central park Luas stop. There are ton's of empty apartments in this new block so get in there and offer €750. when they turn you down offer €800 as your absolute max but (and please do this bit) tell them you need a swift answer as there's another apartment you can secure for €800 if the landlord can't do €800 on this one. Put them under pressure. A bird in the hand from the landlords perspective and all that!!! :P

LAst but not least. This apartment is being let by a private owner http://www.daft.ie/searchrental.daft?id=1130557 I know that building and they struggle to get tenants in there. It's a great building and right in the middle of Sandyford but a little off the beaten track. Why not call him and tell him you can only afford €800 but you'll commit to the year he is looking for if you like the place?

Happy hunting.

Ben

awec

BenEadir wrote: »

Sure, for €1,200 a month

Here's a relative bargain in terms of location. It's a 2 minute walk to Stillorgan Luas so right on the edge of Sandyford. http://www.daft.ie/searchrental.daft?id=1133129 - I know the area (It's very nice) but didn't think there were any apartments there. It might be a converted house or something. Ask before you spend time viewing.

What about any of these? Not Sandyford but pretty close and all nice looking properties in good locations

http://www.daft.ie/searchrental.daft?id=1127365

http://www.daft.ie/searchrental.daft?id=1106864

http://www.daft.ie/searchrental.daft?id=1126619

http://www.daft.ie/searchrental.daft?id=1130572 - a first letting!! The owner will be keen to get it rented. If you can present yourself as responsible and caring they might do a deal as they won'twant their nice shiny apartment wrecked on it's first rental

http://www.daft.ie/searchrental.daft?id=1126173 - This is an amazing location. Literally 100m from the central park Luas stop. There are ton's of empty apartments in this new block so get in there and offer €750. when they turn you down offer €800 as your absolute max but (and please do this bit) tell them you need a swift answer as there's another apartment you can secure for €800 if the landlord can't do €800 on this one. Put them under pressure. A bird in the hand from the landlords perspective and all that!!! :P

LAst but not least. This apartment is being let by a private owner http://www.daft.ie/searchrental.daft?id=1130557 I know that building and they struggle to get tenants in there. It's a great building and right in the middle of Sandyford but a little off the beaten track. Why not call him and tell him you can only afford €800 but you'll commit to the year he is looking for if you like the place?

Happy hunting.

Ben

I'll give ye 750 a month for your 1200 place. Renters market and all that.

In all seriousness, thanks for the info. For the 950 vantage one i was thinking about it. I was thinking about offering lower but I have not done this before (haggled a bit) so I didn't know how much lower I can go before it becomes downright rude and insulting (or they just plain laugh at me).

The south central one also appeals to me.

I am after somewhere safe cause my car has a northern reg on it and I don't want to find it burnt out some day at the end of the street.

The_Conductor

awec wrote: »

The rent prices on Daft are equally ridiculous.

Is it the case that the people that rent out these apartments etc are trying to make up for the shortfall in earnings by simply hiking their rent prices?

1,000 euro a month for an apartment in the dublin 18 area. Scandalous.

Why do you think its scandalous?
The owner is probably making a loss letting it at that level- however that aside- it really is a case of simple market economics. If the owner is unable to get 1000 a month for it- he has two options- leave it vacant and getting even further up to his or her neck in debt, even faster, or lower the rent, accept what he can get for it, and do his or her best to try to reflect this in their ongoing costs........

You may look at the headline rent and deride it as scandalous- however there are a myriad of factors other than the headline rent at play behind the scenes (not least of which is rent allowance, which even at these levels is providing an element of support to the rental market..........)

BenEadir

awec wrote: »

I am after somewhere safe cause my car has a northern reg on it and I don't want to find it burnt out some day at the end of the street.

Can't vouch for any of the other places but the first link I sent you (http://www.daft.ie/searchrental.daft?id=1133129) couldn't be safer IMO. If it's where I'm thinking of it's a leafy estate of mostly detached 4/5 bed houses from the 1980's when plenty of space was left for green areas etc. It's quite secluded so your car should be fine parked there.

Ben

Freiheit

Am tempted now to withdraw my offer. There'l be cheap houses for years. With stamp and fees it's E140k,for a 2 bed with upgrade required,I think I may have offered too much...the owners loss,if I hear nothing within a week or two I'm withdrawing it and won't offer the same again.

MrThrifty

Freiheit wrote: »

Am tempted now to withdraw my offer. There'l be cheap houses for years. With stamp and fees it's E140k,for a 2 bed with upgrade required,I think I may have offered too much...the owners loss,if I hear nothing within a week or two I'm withdrawing it and won't offer the same again.

Alas, a true well-founded statement. Kudos to you for not suggesting that property will be worth zilch in a few years.

As you seem to be thinking, it's the owner's loss and not yours if they don't accept your offer. Seems a fair bit of dosh for a 2 bed apt in need of upgrade, but it depends on the location I guess. In terms of market oversupply at the moment, this building type is probably at or near the top of the list.

desertcircus

Ray Palmer wrote: »

desertcircus wrote: »

Maybe not 80k, but there's no reason why half the houses in the country shouldn't be about three and a bit times the median wage, which is about 25-27k. If banks won't lend over 3x salary, that's how much houses will go for.

There kind of is a 3 bed house is a family house which normally means 2 people working. No reason to assume anybody on the median wage can buy a 3 bed house on their own in a nice neighbourhood. Nice neighbourhood means the people there earn more than the median wage too. No reason a single person on a median wage won't be able to afford a one bed appartment though in a reasonable area.

Two incomes only matter if banks are willing to loan against them -and my understanding is that the most they're willing to extend in most cases is one year of lower annual salary in joint applications, which would add about 20k at most to eventual median prices (I may be wrong on bank attitudes to joint applications, though). Whether a place is a nice neighbourhood or not doesn't change the fact than half the houses will be below the average value. And one-bed apartments in reasonable areas are simply nowhere near the top 50% of dwellings in value, so a single person on median wage should be able to afford significantly more.

Freiheit

http://www.daft.ie/searchsale.daft?id=570888
E770,000 for a 2 bed apartment in Galway!

amdublin

Freiheit wrote: »

http://www.daft.ie/searchsale.daft?id=570888
E770,000 for a 2 bed apartment in Galway!

Ha ha stripperesque pole in the kitchen

Freiheit

Yes and lovely sea views admittedly...all a bargain at E770,000!:)

KTRIC

amdublin wrote: »

Ha ha stripperesque pole in the kitchen

It says its 164.4 Sq. Metres , doesn't look anywhere close to that unless they're including the terrace outside.

Snakeblood

KTRIC wrote: »

It says its 164.4 Sq. Metres , doesn't look anywhere close to that unless they're including the terrace outside.

The first three pictures may look like the same living room from different angles but it's actually showing 3 separate living room kitchens.

Freiheit

Is there any apartment worth E770,000?

jester77

lol, must be a typo, the kitchen is in the middle of the living room. They prob meant 77,000

quaalude

Freiheit wrote: »

http://www.daft.ie/searchsale.daft?id=570888
E770,000 for a 2 bed apartment in Galway!

Needs more chairs.

Outkast_IRE

quaalude wrote: »

Needs more chairs.

Cream carpet extends into the kitchen area, probably the worst idea ever.

Jarren

jester77 wrote: »

lol, must be a typo, the kitchen is in the middle of the living room. They prob meant 77,000

That's what I thought

Zamboni

Outkast_IRE wrote: »

Cream carpet extends into the kitchen area, probably the worst idea ever.

Haha! Quality design there.

Spiritofthekop

Freiheit wrote: »

Is there any apartment worth E770,000?

Not in Ireland there is not.

theteal

Freiheit wrote: »

http://www.daft.ie/searchsale.daft?id=570888
E770,000 for a 2 bed apartment in Galway!

sweet sufferin' santa, I thought I was beyond the point of surprise :eek: that living room/kitchen thing is desperately poor. there must be couple of boats thrown in for that money!

zac8

This one's a commercial property but still worth a mention I think. It sold at the last Allsop auction for 250k - reserve was 200k. But despite that, this agent still has it up for sale at his valuation of 1 million.

http://www.daft.ie/568201

How out of touch can you be? Every estate agent must have been watching that auction. How could he not know that a property on his books has already sold for 75% less than his current valuation?

What's worse is that this property was in the second Allsop auction with a reserve of 285k and failed to sell. This daft ad was put up after that auction.

Snakeblood

zac8 wrote: »

This one's a commercial property but still worth a mention I think. It sold at the last Allsop auction for 250k - reserve was 200k. But despite that, this agent still has it up for sale at his valuation of 1 million.

http://www.daft.ie/568201

How out of touch can you be? Every estate agent must have been watching that auction. How could he not know that a property on his books has already sold for 75% less than his current valuation?

What's worse is that this property was in the second Allsop auction with a reserve of 285k and failed to sell. This daft ad was put up after that auction.

Why bother taking it down if he's paid for the ad for a month or two? Someone might see that, then click through to something else on his books.*

*Just a guess.

zac8

Snakeblood wrote: »

Why bother taking it down if he's paid for the ad for a month or two? Someone might see that, then click through to something else on his books.*

*Just a guess.

You're joking right? Agents don't pay for each ad they upload to daft. They have a running contract that gives them access to it. And even if he did pay for that one ad sure he could just change the asking price. That ad makes him look like a fool.

Snakeblood

zac8 wrote: »

You're joking right? Agents don't pay for each ad they upload to daft. They have a running contract that gives them access to it. And even if he did pay for that one ad sure he could just change the asking price. That ad makes him look like a fool.

Nah, I'm guessing.

zac8

Snakeblood wrote: »

Nah, I'm guessing.

Well I'll let you off cos it's Christmas :pac:

odds_on

jester77 wrote: »

lol, must be a typo, the kitchen is in the middle of the living room. They prob meant 77,000

You must be joking - nothing much in Galway under 100,000.

It's a damn dear city to get even an apartment. But at 770,000, for a 2 bed 2 bath --- someone's either dreaming or got a bump on the head!

I agree, the overall size must include the terrace which is about 75 sq. m, leaving the apartment at about 89 sq. m. making it about 8651 euros per sq. m.

Now that's what I call expensive.

BenEadir

zac8 wrote: »

It sold at the last Allsop auction for 250k - reserve was 200k. But despite that, this agent still has it up for sale at his valuation of 1 million.

Guy's,

When are people going to realise that Estate Agents (of which I'm NOT!) don't determine the value a property is advertised at, their clients do. If an estate agent won't advertise a property at the price instructed the owner will simply move on to another agent. Estate agents TAKE instructions, they don't give them.

To illustrate, would you blame the owners of Done Deal if someone advertises a 2005 Ford Mondeo 1.6 petrol with 200,000 miles for €90,000??? No you wouldn't. You'd say the guy selling it was out of touch and hadn't a hope of selling it at that price. The only difference with property is that instead of the owner taking the pictures and posting them online themselves they get someone called an Estate Agent to do it for them on the promise that if they handle the enquiries and negotiations and it sells they'll get a commission.

If an Estate Agent could convince a client to market a property at a price it would actually sell for they would. It's the only way they can earn their living. Do you think that agent will earn anything from that advert? Of course not. His only hope is that after a few weeks of no enquiries the owner (his client) sees sense and drops the price to a figure which will attract buyer interest.

Ben