16 The Old Golf Links, Malahide (-1100k, -47.8%)

Was 2300k, then 2200k (Aug 2007)

Now 1800k

This house can be rented at 3k a month.


That is is yield of less that 2% on the asking price. A five year fixed rate mortgage on 600k will cost you more that 3k a month. Why would anyone buy this even at 1.2k. You could save 3k a month and pay the rent living in the furnished house. (100% mortage on 1.2m would be six grand a month over 25 years (five yr fixed) ).

OK these level of houses generally don’t rent and 100% mortgages are thankfully dead but still something is very wrong with this picture. You have to wonder about how the estate agents come up with the rent levels and the corresponding asking prices.

Great find mambo as always. Unfortunately still about 1.4m out of my price range. :cry:

Now €18,000,000 :angry:
daft.ie/searchsale.daft?id=4 … rch=1&ea=1