1/4 empty estates resistant to low ball offers---Pour quoi?

Went to Moyglare Hall in Maynooth last weekend to look at “The Ash”, a five-bed detached listed for 360k. Here it is: moyglarehall.com/hta.html . Anyways, there are fourteen of these suckers sitting empty and probably another dozen different types also empty. These have been empty since we moved to the area in 2009. Now, 360k is way out of our price range (and who would pay that type of cash for the house even if they had it?). However, the EA stated there was no flexibility on the price. None. I really don’t get it.

You obviously don’t understand the complicated financial structures in place in Irish builders & Financial institutions that make it more profitable for them to leave houses empty & decaying rather than selling them for what they can get. It involves having some chump called the PAYE worker take the load, while you get payed 200k PA to help NAMA run the company you no longer own, to not sell the houses you built.

It’s very sophisticated ! 8DD

:smiley:

in all seriousness though, if the market was that… a market… then things would start to improve back home

Myself and my wife were talking about this at the weekend. We’re giving serious thought now to building.

Similar examples in Dunshaughlin and Ratoath
daft.ie/searchsale.daft?id=394078 - These yokes have been for sale for the 3 years I’ve been living in Ratoath
boards.ie/vbulletin/showthre … p=67504526

The likes of new houses like the above are still overpriced. Any new second hand houses are possibly in negative equity where the bank won’t let the seller sell for a loss. Older houses that aren’t in negative equity and able to sell at closer to competitive rates probably could need more money pumped into them to bring them up to spec.

If we had a properly functioning market we wouldn’t all be up to our eyes in shite; & all the VIs are perfectly happy to continue with the market in this situation.

All the efforts, of all the VIs, from probably a couple of years before Berties infamous ‘suicide’ speech were focused on avoiding the terrible day when Irish people actually started paying for houses only as much as what they were worth. :imp:

I’d guess that, if it’s detached, they’re comparing their price to the ones on the Old Dunboyne road which supposedly sold out for 380K each. They may have been 5 bed though.

Plenty of houses around the town. Keep playing the waiting game.

Well the same EA has both listings.

by functioning i mean full disclosure of prices and selling them for market rates