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Investing in rental property carrick on shannon

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  • 19-08-2016 1:13pm
    #1
    Leitbrook
    Registered Users Posts: 10 ✭


    Would Carrick on Shannon be a good place to invest in a property to rent out at present?
    Thinking prices still low but is their a rental market at present... is there any investment coming to area to bring employment and potential tenants since MBNA left?
    Also what estates would attract professional tenants? thanks


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    #2
    zef
    Closed Accounts Posts: 947 ✭✭✭zef


    Honestly, I wouldn't take a rental unit there if it was given to me for free. (Nothing against Carrick btw!) Not unless I lived close by and liked a gamble and could afford to lose money.
    Rentals are very low there- a house with 3/4 beds in the town in 650e, 1-2 bed apts 400-500pm.
    There may be a rental market at present- but there may not be one there in 2 years when more houses are available in Dublin, Cork, etc.
    You might get a bargain, but you will be paying a lot of outgoings.
    You might have significant void times between tenants, if you are fussy about who you pick.


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    #3
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    In addition- look at the amount of vacant property in Carrick- its almost unique in an Irish context. I like Carrick- and I pass through it frequently (and even shop there quite a bit)- but there was significant over development in the town- which has not worked its way through the system.

    As a town- I'd also have serious misgivings about the number of hen parties being attracted to the town- its a form of tourism they could really do without.........


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    #4
    newacc2015
    Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    I would only buy in Dublin or Cork maybe. A majority of Irish towns and our "cities" aka glorified towns are too dependent on a single employer. When they close, generally the whole town goes into a mini recession. You will never have an issue letting a place in Dublin. You will never be stung when a massive employer closes, as there is another several hundreds that will remain open


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    #5
    Uncle Ben
    Closed Accounts Posts: 1,843 ✭✭✭Uncle Ben


    The_Conductor wrote: »
    In addition- look at the amount of vacant property in Carrick- its almost unique in an Irish context. I like Carrick- and I pass through it frequently (and even shop there quite a bit)- but there was significant over development in the town- which has not worked its way through the system.

    As a town- I'd also have serious misgivings about the number of hen parties being attracted to the town- its a form of tourism they could really do without.........

    As per above, I work in general area and even during the boom with MBNA in full flow there were vacant units in this town. Since then however the only thing that is a constant, are the annual floods.
    Carpe Diem.


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