The Pro's and Cons of buying an apartment as an investment in Dublin at the moment

StevenGerrard

Say you Bought for 100,000 you could get 600/700 hundred so 6/7% of value to save you could rent out for maybe 450/500 and the tenant pays for maintenance snd upkeep but have discounted rent,

Monty Burnz

bear_hunter wrote: »

would you go away with your hundreds of grand , with the majority of builders on the scrap heap , refurbishments cost but a fraction of what they used to

http://www.daft.ie/searchsale.daft?id=652561

you call this a ruin :rolleyes:

Although requiring refurbishment

When even the estate agent selling it admits it requires refurbishment, you know you are in for a hell of a time. Refurbishing a period house is a hell of a lot more expensive than refurbishing a normal house as I'm sure you know, and once you start digging around in one of these old homes they can turn into monstrous money pits. You could easily be looking at €200 - €300 per square foot in renovation costs - I suggest you tell your relatives this if they both exist and are not aware of this.

jmayo

bear_hunter wrote: »

ok then , the property they are buying in reneleagh would have cost in excess of 800 k at the height of the boom , how much would a three bed period in west london cost today , i know dublin is not london but it does have its exclusive neighbourhods and their are still high earners in this country , btw , their buying it to live in , not as an investment

You are comparing what they are paying for it today with what it costed at the height of the boom.
Why are you bringing in London to this if you know it is not Dublin ?
I wish people would cop on and realise Dublin is not London, Paris or New York.
It is a piddling little city, albeit a capital city, in a little country in terms of population and economy compared to those other cities.
If a few more people had copped onto that fact during the bubble they might have realised they should not be paying more per sq metre than someone in those cities.

I didn't think Ranelagh was one of the exclusive neighbourhoods ?
Maybe a small section but most of Ranelagh ?

bear_hunter wrote: »

would you go away with your hundreds of grand , with the majority of builders on the scrap heap , refurbishments cost but a fraction of what they used to

http://www.daft.ie/searchsale.daft?id=652561

you call this a ruin :rolleyes:

Yeah just change those awful carpets and shure you're done.

I don't like it when EAs don't show kitchens, bathrooms, bedrooms in their ads.
It usually means they are not up to scratch.
In the case of country houses they often substitute house pictures for pictures of the road outside, the local mountain or the entrance to the local golf club.

I guess in Ranelaghs case a picture of McSorley's, or whatever replaced Night Owls wouldn't quiet show it's exclusivitiy. :rolleyes:

daltonmd

murphaph wrote: »

The effects of reduced disposable income/RS etc. will be HIGHLY regional IMO.

Taxes aren't regional. Property tax is not regional, water charges won't be regional. The effects on a reduced income will be more pronounced in Dublin or cities where rents are higher.

If you earn 25k in Offaly and 25k in Dublin then expecting the Dublin person to have multiple amounts of disposable income for rising rents just makes no sense.

If you look on Daft then the cheapest one bed apartment in Offaly is 100pm - in Dublin it's 300pm (just using this as an example).