Property Market 2017

Bob24

Henbabani wrote: »

also, you can find plenty of 1BDR apartments for under 1200-1300, you can't ignore that either.
maybe, just maybe, some of them are scam, but if you read the newspapers you get really bad picture that looks like the interests are standing behind them.

A friend of mine was looking exactly for this kind of rental property as he got his lease termination notice due to his landlord turning his block into a large scale AirBNB (which btw is another problem for tenants). Basically his feedback is that in any of the central districts what you get for that kind of money will be very small and not in good condition. What he said is that to get something decent you are talking minimum 1500 (for exemple he said you can get a small but nice apartment in Smithfield, which is a fairly decent place but definitely not considered the best area in town). He also said he saw a lot of desperate poeole who had been looking for weeks and were ready to take anything (he's good as he had a a few months to find a new place and his job/circumpstances make him an attractive tenant, but since demand is so high someone who as a so-so job might never be picked by landlords who can choose from several prospective tenants).

He ended-up with a nice one bed for 1300 in Sutton, which is a good area but not central at all (and that's because it was a let directly through the owner - no agent involved - and the landlord had looked him up and liked his profile so he had decided he wanted my friend specifically and didn't show the place to other people).

Henbabani

Bob24 wrote: »

Henbabani wrote: »

also, you can find plenty of 1BDR apartments for under 1200-1300, you can't ignore that either.
maybe, just maybe, some of them are scam, but if you read the newspapers you get really bad picture that looks like the interests are standing behind them.

A friend of mine was looking exactly for this kind of rental property as he got his lease termination notice due to his landlord turning his block into a large scale AirBNB (which btw is another problem for tenants). Basically his feedback is that in any of the central districts what you get for that kind of money will be very small and not in good condition.  What he said is that to get something decent you are talking minimum 1500 (for exemple he said you can get a small but nice apartment in Smithfield, which is a fairly decent place but definitely not considered the best area in town). He also said he saw a lot of desperate poeole who had been looking for weeks and were ready to take anything (he's good as he had a a few months to find a new place and his job/circumpstances make him an attractive tenant, but since demand is so high someone who as a so-so job might never be picked by landlords who can choose from several prospective tenants).

He ended-up with a nice one bed for 1300 in Sutton, which is a good area but not central at all (and that's because it was a let directly through the owner - no agent involved - and the landlord had looked him up and liked his profile so he had decided he wanted my friend specifically and didn't show the place to other people).

thanks, but im not willing to live in city center or near that, if you can live in London and travel about 50 minutes a day to work, it's ok to live like that in Dublin, especially in the beginning.

Henbabani

another question 
why there isn't no new data about rent prices?
http://www.dublinlive.ie/news/dublin-news/dublin-rent-prices-drop-rest-13187454
this is the last one from June.

Bob24

Henbabani wrote: »

another question 
why there isn't no new data about rent prices?
http://www.dublinlive.ie/news/dublin-news/dublin-rent-prices-drop-rest-13187454
this is the last one from June.

Given the time of the year the person who computes the statistics was likely on holiday for a few weeks with no one to cover for them. Figures will probably be updated soon.

LirW

Henbabani wrote: »

i definitely can't ignored the information you talked about, But there's a lot of properties sale under 200K in Dublin and even 2BDR apartments.
also, you can find plenty of 1BDR apartments for under 1200-1300, you can't ignore that either.
maybe, just maybe, some of them are scam, but if you read the newspapers you get really bad picture that looks like the interests are standing behind them.

I really don't wanna have a go at you here and I appreciate that you are really trying to get a picture of Dublin from far abroad. But believe me, the people on here know what they're talking about.
When people are talking about truly bad areas you need to go there to see that it's really bad (I'm in no way a classist and grew up in very bad areas myself).
Apartments that are there for sale for cheap are usually cheap for a reason. The area can be a bit troublesome, the safety standards can be more or less lethal, there are plenty of reasons.
Similar thing with rents. The newspapers are in no way pushing that it's bad, there is no need for it, because it is really really bad. You're attempting to move here without a secured job and no references and believe me, you won't be a desirable tenant unless you get incredibly lucky.
You haven't been here yet, you haven't seen the frustration of people who want to buy or rent and I find your dismissals somewhat tiring.
Ireland isn't the golden land, Dublin isn't the golden city and in the course of the last 2 years a lot of people who moved here without previous knowledge about the circumstances had a really rude awakening.

I still wish you that you'll find it easy enough to do your move and keep up the research you're doing. But do not underestimate how the market is, here is a serious crisis going on. At this point nobody can tell you how it really will turn out, but when you go to viewings of any kind you can see the desperation is real.

hottipper

This makes me think this is a company trying to offload at the top of the market? 5 apartments in the same block.

Kilmainham Square

rsynnott

hottipper wrote: »

This makes me think this is a company trying to offload at the top of the market? 5 apartments in the same block.

Kilmainham Square

They've been selling those off for a year or so at least now. I suspect the building was finished during the crisis, so they rented them out instead of selling, and are now selling as leases run out.

Henbabani

LirW wrote: »

Henbabani wrote: »

i definitely can't ignored the information you talked about, But there's a lot of properties sale under 200K in Dublin and even 2BDR apartments.
also, you can find plenty of 1BDR apartments for under 1200-1300, you can't ignore that either.
maybe, just maybe, some of them are scam, but if you read the newspapers you get really bad picture that looks like the interests are standing behind them.

I really don't wanna have a go at you here and I appreciate that you are really trying to get a picture of Dublin from far abroad. But believe me, the people on here know what they're talking about.
When people are talking about truly bad areas you need to go there to see that it's really bad (I'm in no way a classist and grew up in very bad areas myself).
Apartments that are there for sale for cheap are usually cheap for a reason. The area can be a bit troublesome, the safety standards can be more or less lethal, there are plenty of reasons.
Similar thing with rents. The newspapers are in no way pushing that it's bad, there is no need for it, because it is really really bad. You're attempting to move here without a secured job and no references and believe me, you won't be a desirable tenant unless you get incredibly lucky.
You haven't been here yet, you haven't seen the frustration of people who want to buy or rent and I find your dismissals somewhat tiring.
Ireland isn't the golden land, Dublin isn't the golden city and in the course of the last 2 years a lot of people who moved here without previous knowledge about the circumstances had a really rude awakening.

I still wish you that you'll find it easy enough to do your move and keep up the research you're doing. But do not underestimate how the market is, here is a serious crisis going on. At this point nobody can tell you how it really will turn out, but when you go to viewings of any kind you can see the desperation is real.

Let's go by your way of looking on Dublin, if evertything is expensive, frustrating, shortage of supply, even dangerous if you want to save some money, why the demand is still in highest rate maybe ever?
Why people still wanna come to Dublin, live and work in Dublin?
Everyone making a big mistake and no one know the real truth?
Sorry but I'm not buying it, and by the way I've been in Dublin twice.

Graham

Henbabani wrote: »

Let's go by your way of looking on Dublin, if evertything is expensive, frustrating, shortage of supply, even dangerous if you want to save some money, why the demand is still in highest rate maybe ever?
Why people still wanna come to Dublin, live and work in Dublin?
Everyone making a big mistake and no one know the real truth?
Sorry but I'm not buying it, and by the way I've been in Dublin twice.

Because it's the capital, the majority of the jobs/opportunities are in Dublin as well as a large concentration of the cultural/social attractions.

I think the point being made is, you are underestimating how difficult it is to find reasonably priced accommodation anywhere in the city.

The smattering of lower priced apartments you're discovering are in less salubrious areas or are going to attract potentially dozens of candidate tenants.

Added: unfortunately moving within a 50 minute commute of Dublin City isn't a magic solution either. Tens of thousands have done that before you pushing up those rental costs to the point where there's little saving to be made by the time you've accounted for increased travel expenses.

The_Conductor

hottipper wrote: »

This makes me think this is a company trying to offload at the top of the market? 5 apartments in the same block.

Kilmainham Square

Probably.
Its actually 3 apartments- two of them are repeated twice (for whatever reason).

In any event- 375k for a 2 bed in Kilmainham- would seem extremely optimistic to me...........

Samuel T. Cogley

Graham wrote: »

Added: unfortunately moving within a 50 minute commute of Dublin City isn't a magic solution either. Tens of thousands have done that before you pushing up those rental costs to the point where there's little saving to be made by the time you've accounted for increased travel expenses.

I couldn't agree more. The main issue with a 50 minute commute in Dublin is it's about 15 minute cycle from Dublin CC.

I'm from a commuter town to London, one that would be less than an hour away, it's 59 miles away. The train-stations are walkable from the town and once one get's into London the transport is joined up and excellent. We simply don't have the infrastructure to support large scale commuting, which is why the LUAS and DART are so attractive.

That said we're not seeing a sea change in places like Kilbarrack as the new builds are far too attractive further up the DART line. Whether that continues or not is one we'll have to keep an eye on. Oddly prices are low enough that most people can still afford to buy, and IIRC from the myhome stats not many rent out here despite it being just 8K or so from the city and very well connected via DART.

Samuel T. Cogley

The_Conductor wrote: »

Probably.
Its actually 3 apartments- two of them are repeated twice (for whatever reason).

In any event- 375k for a 2 bed in Kilmainham- would seem extremely optimistic to me...........

Wrap round balcony, sexy part of D8 close to the Hilton. That'll sell no problem... and be AirBnB'd.

The_Conductor

Samuel T. Cogley wrote: »

Wrap round balcony, sexy part of D8 close to the Hilton. That'll sell no problem... and be AirBnB'd.

Honestly- I'm nauseous at the thought of the area- I genuinely don't get the attraction of the area- and leaving the one any only interview I was asked to attend in the Hilton- my phone was stolen by a guy on a bike.

I accept its reasonably close (10 minute'ish walk to the IFSC)- but surely 375k would actually buy you something in a better area?

Samuel T. Cogley

The_Conductor wrote: »

Honestly- I'm nauseous at the thought of the area- I genuinely don't get the attraction of the area- and leaving the one any only interview I was asked to attend in the Hilton- my phone was stolen by a guy on a bike.

I accept its reasonably close (10 minute'ish walk to the IFSC)- but surely 375k would actually buy you something in a better area?

Kilmainham whether it's deserved or not is considered a nice area, personally I agree that it's rougher than a badger's ball sack but as Hilton himself said (in relation to hotels) Location, Location Location.

I would buy you a better location to live but to AirBnB...

accensi0n

The_Conductor wrote: »

I accept its reasonably close (10 minute'ish walk to the IFSC)- but surely 375k would actually buy you something in a better area?

More like an hour no?

Browney7

The_Conductor wrote: »

Honestly- I'm nauseous at the thought of the area- I genuinely don't get the attraction of the area- and leaving the one any only interview I was asked to attend in the Hilton- my phone was stolen by a guy on a bike.

I accept its reasonably close (10 minute'ish walk to the IFSC)- but surely 375k would actually buy you something in a better area?

10 minute sprint maybe! Gentrification in action I suppose. I can think of plenty apartments in phibsborogh, glasnevin, Drumcondra that would fetch less that would be more desirable.

Anyone who buys that on the basis of the strength of air BnB income is taking an all mighty punt that air BnB won't be clamped down on.

The_Conductor

accensi0n wrote: »

More like an hour no?

Even if you're taking a leisurely stroll- its only the length of the quays.
I am a fast walker (drives the wife nuts)- I'd do it in 10 without breaking a sweat. 20 mins- if you're taking your time?

The_Conductor

The_Conductor wrote: »

Honestly- I'm nauseous at the thought of the area- I genuinely don't get the attraction of the area- and leaving the one any only interview I was asked to attend in the Hilton- my phone was stolen by a guy on a bike.

I accept its reasonably close (10 minute'ish walk to the IFSC)- but surely 375k would actually buy you something in a better area?

Also got rear ended in a hit-and-run at the traffic lights on St. John's Road there........ Bumper cam caught it- insurance company dealt with it (eventually).

Its not the sort of area you'd be comfortable walking to/from in the dark (or indeed the daylight.........)

On the brightside- its got remarkably cheap petrol and diesel in the immediate vicinity.

The_Conductor

Browney7 wrote: »

Anyone who buys that on the basis of the strength of air BnB income is taking an all mighty punt that air BnB won't be clamped down on.

Airbnb is already supplying details of all Irish lettings to Revenue. In addition to this- Dublin City Council ruled that any letting of less than 28 days duration is commercial rather than residential in nature- and requires a change of planning permission for the premises. This is wholly aside from Management Company rules- which are increasingly featuring rules specifically targetting Airbnb/Booking.com etc.

Anyone who is relying on Airbnb- is a fool.

traveller0101

The_Conductor wrote: »

Even if you're taking a leisurely stroll- its only the length of the quays.
I am a fast walker (drives the wife nuts)- I'd do it in 10 without breaking a sweat. 20 mins- if you're taking your time?

What are you talking about..?

https://www.google.ie/maps/dir/Spencer+Dock/Kilmainham+Square,+Inchicore+Rd,+Inchicore,+Dublin+8/@53.3455721,-6.2920077,14z/data=!4m14!4m13!1m5!1m1!1s0x48670ef2573f116d:0xd84fff06b56d211!2m2!1d-6.237125!2d53.3488253!1m5!1m1!1s0x48670c455146591b:0x8ef26f05640831c9!2m2!1d-6.3093144!2d53.3425113!3e2

The_Conductor

traveller0101 wrote: »

What are you talking about..?

https://www.google.ie/maps/dir/Spencer+Dock/Kilmainham+Square,+Inchicore+Rd,+Inchicore,+Dublin+8/@53.3455721,-6.2920077,14z/data=!4m14!4m13!1m5!1m1!1s0x48670ef2573f116d:0xd84fff06b56d211!2m2!1d-6.237125!2d53.3488253!1m5!1m1!1s0x48670c455146591b:0x8ef26f05640831c9!2m2!1d-6.3093144!2d53.3425113!3e2

I stand corrected- I had no idea it was that far........
Ok- the idea of paying 375k for a 2 bed apartment here- simply doesn't add up.

traveller0101

The_Conductor wrote: »

I stand corrected- I had no idea it was that far........
Ok- the idea of paying 375k for a 2 bed apartment here- simply doesn't add up.

Thought you were just a really fast walker

If you lived there you could hop on the red line

uberwolf

The_Conductor wrote: »

Its not the sort of area you'd be comfortable walking to/from in the dark (or indeed the daylight.........)
.

I don't get this. Lived there for years. Never blinked at. Certainly areas very close by that are a totally different story, but you dont need street smarts to spot them.

Hsq, imma, hilton area all nice and twenty/ twenty five minutes walk to Dame St/College Green. 375k is choppy though for the area.

Bob24

The_Conductor wrote: »

Airbnb is already supplying details of all Irish lettings to Revenue. In addition to this- Dublin City Council ruled that any letting of less than 28 days duration is commercial rather than residential in nature- and requires a change of planning permission for the premises. This is wholly aside from Management Company rules- which are increasingly featuring rules specifically targetting Airbnb/Booking.com etc.

Anyone who is relying on Airbnb- is a fool.

I hope they are fools and it will be heavily regulated/restricted, as otherwise Airbnb will turn many streets/developments into open air museums / ressorts with no local life left.

But for now it is definitely going strong. Just a few anecdotes but a friend of mine living near Tara station has to move because his whole (smallish) residential building is being turned into a large Airbnb. I also came across anti Airbnb protests a few weeks ago at Spencer Dock (which was in the news for the large proportion of short terms lets there and where the management company banned them, but obviously this is not enforced as I saw a local resident with a protest banner hanging from his balcony and shouting at tourists with suitcases entering the development).

Samuel T. Cogley

The_Conductor wrote: »

Airbnb is already supplying details of all Irish lettings to Revenue. In addition to this- Dublin City Council ruled that any letting of less than 28 days duration is commercial rather than residential in nature- and requires a change of planning permission for the premises. This is wholly aside from Management Company rules- which are increasingly featuring rules specifically targetting Airbnb/Booking.com etc.

Anyone who is relying on Airbnb- is a fool.

Fools in the Irish property market, get out of town. (That should be about 9 minutes for you from the city centre :P)

traveller0101

What do people think are some apartments that have been sold at good value?

Samuel T. Cogley

traveller0101 wrote: »

What do people think are some apartments that have been sold at good value?

D8 Viking Harbour, the Maltings and the surrounding apartments in D7 and D8. If you can get one of those for around 150-160K you've done well. They've huge rental potential in a number of demographics from students to young professionals and a lot of AirBnBers.

myshirt

Kilmainham to IFSC in 10 minutes!?

I'm reall unfit!! That would take me at least 40 mins, and that's on the basis I got a good clean run of green mans along the way.

rsynnott

The_Conductor wrote: »

Its not the sort of area you'd be comfortable walking to/from in the dark (or indeed the daylight.........)

I used to live just around there; never thought it was too bad. I did avoid the south quays walking home at night; they get very empty. Normally I'd just get the Luas, tho.

Arcade_Tryer

Henbabani wrote: »

Let's go by your way of looking on Dublin, if evertything is expensive, frustrating, shortage of supply, even dangerous if you want to save some money, why the demand is still in highest rate maybe ever?

Because that demand greatly outweighs the supply. Simple as that.