Original price was crazy, current price is still unrealistic considering the condition the property is in, and the fact that there are refurbished 3 bed redbricks on sale in Ranelagh for less than 900k.
Sorry but just when you think reality is creeping back into the market you fall off your chair in stitches after seeing an ad like that
You buy that place and at some point will have to spend 500k to get it in habitable condition. If you dont, you potentially risk a big liability for leaving it derilict and issues surrounding public safety etc. Try insuring a home like that while leaving it unoccupied and you will see what I mean.
Then even if you do manage to get in good order it looks like the whole street is a bit run down looking, as such who in their right mind would pay the 1.5mln (1k EUR a sq ft) you would need just to breakeven after all costs? There are plenty of homes in Ranelagh, on cleaner streets, already in perfectly liveable condition for 500eur a sq ft nowadays.