Need advice - Sell or rent

I wouldn’t advise anyone to become a landlord. You effectively lose control of the dwelling and are at the mercy of tenants and the RTB. Read all the threads here from landlords.
You can sell it tax free at the moment. Once it’s no longer your home you will pay capital gains tax based on the percentage of time it was your home.

Rent will be taxed at your higher rate and you will be responsible for upkeep.

But your post states you are buying anyway, so whether you sell or rent, you are still going to buy a house? Is that right.

Personally I'd sell, use the equity to get a smaller mortgage and then even if the house drops in price you will not be in negative equity. And you avoid becoming a landlord

I think that you're being very optimistic with your 375k figure to even buy an old 3 bed home in Dublin. The asking price may be listed at that but bidding wars are relentless. I gave a previous example of online bids for a 3 bed in Poppintree, Ballymun, asking was 375 sold for 480k. I'd say you're looking at a min of 450k in Dublin.

If you can get 320k for your apartment now I feel that it's a no brainer for you to be honest, leaves you in a great financial position.

All of the above and more. Landlords are running out of the market. 50% of what you make in rent is taken by the tax man. Then there is the chance of either non paying tennents or squatters (see adverse possession law). Also read the proposed right to accomodation legislation.

Quit, sell the apartment and buy a new place and avoid messing with the varibles you cannot control with tennants and government bodies.

Glad you've made a decision. Good luck with the sale and best wishes for your future happiness.

I am thinking we are close to the top of the market. If you cannot see the top then you are in a bubble.

@o1s1n the market has risen a good bit in almost 3 years. Not that I could see this extended boom happening but the market has limits. Look for markets hints. The state of american domestic credit, house repossesion and delinquency rate. I would not like to be a homeowner when the music stops.

Just a side remark - your gf thinks "we should sell" ………….. it appears it is your property but that you might be going to buy a house together?

The reason I bring that up is that it might be another consideration for you to have a potential backup property should the other plan go sour.

Remember to factor in your deductions. Things like your management fee, mortgage interest relief on the rental property, letting agency fees, repairs etc can add up and deduct significant amounts from your tax bill.

One thing that's worth keeping in mind that if you have a mortgage on your apartment and want to rent it out, you'll have to change it to a Buy to Let mortgage. When I was changing mine over, the only banks that offered such mortgages were ICS and and Bank of Ireland so it would be good to see what's available. They'll probably only offer variable rates too (I did take a bit of a hit with the recent interest rate hikes).

Is your 450/500 euro calculation left over AFTER paying your mortgage? That's not a bad monthly return at all tbh. Think of it this way, the mortgage is also being paid, so you're also gaining a bit of an asset each month that you could sell when you're older (or continue to rent out without having the mortgage part to pay anymore)

Definitely agree on that. Also with you owning an apartment and as a second time buyer if you dont sell the apartment you would need a 20% deposit? Or has that changed? If its still so and you buy a house for 400K (which is bottom end as already said) youd need 80k cash and a mortgage of 320, and a house for 400k is very very low end. Likely to need some work maybe. id sell 100%. But yes for a non-married partner youd best check out the tax implications.