23 Shrewsbury Park, Ballsbridge (-640k, -48%)

2004 “23 Shrewsbury Park, Ballsbridge, Dublin 4. Guide €850,000, all brick residence, 3 bed, ample off street parking. Sold at €1.335m.”
independent.ie/unsorted/prop … 54960.html

Selling for 57% above the guide price? Ah those were the goold old days…

Now 695k
myhome.ie/residential/brochu … 4/1443729#
€478/sq foot

Over 52% when you factor in the 9% stamp duty.
Either way - Ouch !

…and still looks expensive. Why spend 700k on this in the current market? Would that make 450k?

Eur450,000 would be too cheeky an offer I reckon CO - a house with a D4 Shrewsbury address will surely sell for more than 4.25k a square metre. Can’t see this selling for less than 575k. Was going to suggest it was fit for the “Is thast value I see thread” but thought that may have been getting carried away. Decent addresses in eastern european cities are selling for in excess of that per square metre so would have thought that D4/D6 should be able to sustain that price level (for the moment).

I was thinking €450k was too much. This is not a family home. Too small and compromised. Right area, wrong size.

Therefore the buyer will move on at some stage and seek to sell or rent. It really is the size of a rental.

What would this get in rent now? €1700? 1700x12x14 = 285,600 - slap on 100k for location and knocking around €400k. So, if you are earning €100k this is you kind of late 20s early 30s pad…but you will be moving.

…comparisions are useless. The country and a lot of the high earners are fubarred as a result of property speculation. This all needs to be factored in. No one will pay €700k for this when they can get a period pile for that.

EDIT: Backs onto the DORT - noise? I have also heard the house in here are not that well built. Each to their own.

Ah now, that place is plenty big, looks in showroom condition and is in D4 proper.

I’d agree the walls are probably a bit thin so you’d hope your neighbours weren’t students.
It’s close to the train line but that doesn’t bother everyone. I love trains and like to hear them in the distance during the summer with the window open. :smiley:

Would be very surprised if that place didn’t clear for over €500k.

On a side note I used to play as a kid in the fields those houses were built in!

I’d have to agree with Zapp and i’d even go a bit further and say that it should defo make over the 600k mark. Place looks very well, no comparison to others in Shrewsbury Park, from photo’s it looks streets ahead. With regard to monthly rent - 2,500 p/m all day long!

Even if you get 2.5k you have proved my point (BTW 2.5k is VERY toppy compared to what is out there to rent at the minute).

Supposing you are one of those lucky people with €100k deposit burning a hole in your pocket.

You borrow €500,000 from BoI fixed for five years:

5 Year Fixed - rolling to Variable:

25 year €3,130.44

30 years €2,902

35 years €2,750.93

Now I know Dublin has not shortage of idiots, but only a complete idiot would buy on those numbers (in the worst recession for decades, IMF in, taxes rising etc etc.

The days of leverage for leverage sake are gone.

Isn’t SD now 1% for all buyers up to €1m, then 2% on balance?

I think mr_anderson means the 9% stamp duty the vendor would have paid when buying it.

4 bed rental in Shrewsbury Park is 2200 pm. No way you will get 2500pm for a 3 bed

I stand by my 450k valuation.

Have you a link for the 4 bed for €2200? all i could find was a 4bed for 3k and a poor looking 3bed for 2200? You still don’t think an extended 3bed (with study) in showroom condition would get 2.5k p/m?

As for the 450k valuation…well that’s just being cheeky!

There’s also a 760 (approx) annual charge for the privilege of living there. If you got it for 500k you might be able to live with yourself. Maybe.

Auctiongirl - you seem to be following a line of look where it is it must be worth ex? The asking prices is cheeky. 450k are full price. That kind of house, now, makes no economic sense above 500k no matter what way you cut the data…and that is without taking into account property taxes.

not every sale goes through because it makes economic sense and every sales price isn’t based on what a property might rent out for times x or y?

but hey maybe i’m wrong, time will tell…

…and the result is NAMA. Remember, we will overshoot on the downside. There are few cash buyers and no big lending.

I am renting one at the momrnt

Close to 2k, Close to 3k, under 2k? How is the build quality and would you pay USD 1,000,000 to buy there?

Apart from the power of common sense, do you have any other superpowers auctiongirl?

I won’t even start with the whole superhero underpants on the outside thing.