Built in the boom, priced for the slump

€210k for a 1 bed still seems quite high, imo, even if the build quality is as good as the article implies.

right next to St. Luukes, if you run out of tea or sugar.

These remain 50% - 75% more expensive than equivalent type city-centre apartments over the water (ex London).

Still some way to go I’m afraid.

These are London prices (assuming an equivalence between “northsoide” dublin’s proximity to the IFSC and East London’s proximity to the Wharf). I would expect €80 -€100k for a liquidator sale of a pokey one bed on the Northside with a view of one of the busiest roads in the country. Madness, utter madness.

They are in fairly grim surroundings. The photographer for that piece earned his keep, let me tell you. The river would be nice to look at if it underwent a tidy up, currently it’s all weeds and the odd trolley. At the far side of the river all you have to look is the back of commercial and residential units.

And yes, that road is busy. All the time. If that photographer was on foot he is now deceased. Its plus points are its proximity to everything in Drumcondra, but really for that type of money you can be aiming for a two bed house in the area, and that’s right now. Oh, and no management fees.

That receiver should be ashamed of himself!

Decent sizes, for the 1 bed at least.

Why can’t I find an ad for them?

The young one with black hair on the poster is very nice indeed… Can I put in a bid for the site hoardings, do ya think?

Where’s the rub your thighs smiley… :stuck_out_tongue:

This one HERE is for rent right now. Decor wise it looks like a knocking shop to me…or am I missing something ???

That place really needs some colour in it. Maybe some reds.

If the build quality is anything like that of another development by said developers that I had the misfortune to live in for a while, I still wouldn’t at quarter the price. In fact, I probably wouldn’t – full stop XX

Cant see these on daft or myhome yet. But that one for sale on The Waterfront looks very dodge…!

Yea these still too expensive - if they dropped too 100k I would consider… I’ll be very surprised if they sell these at this price

So…much…red! :open_mouth:

Good to see the report notes that this will drive down the prices…Keep hammering that message out there!

100k is the value of one beds seems to be the general consensus.

€110k gets you a new 3 bed semi less than 20 miles from Galway and a commute via the motorway .

A one bed apartment would be €30-40k, if available.

Well he would Barney :smiley:. But if the 3 bed semis are not 100% sale agreed or sold at that price by the end of November the next price bracket will be €99k for a new3bed semi near enough Galway.

So someone who wants to buy one of these apartments for 210k must have a deposit of 42k (20%) ready and mortgage approval for the remaining 168k.

168k suggests a salary of 42k at a multiple of 4x gross.

Monthly repayments over 20 years would be 956 at AIB’s variable rate, or 922 at 5 year fixed. Allow for €100 p.m. service charge.

So a person on 42k a year with a whole year’s gross savings can either:

  1. buy a one bed in Drumcondra paying over all their savings and a monthly payment of over 1k

  2. keep their 42k (earning approximately 800-1k p.a. in interest) and rent one of the below 2 beds for a grand or less:

Rathmines - daft.ie/searchrental.daft?id=977618

Docklands - daft.ie/searchrental.daft?id=978167

Ranelagh - daft.ie/searchrental.daft?id=972276

Howth - daft.ie/searchrental.daft?id=964800

Even predicting no further drops, no intrest rate increases and ignoring all the other costs that come with home ownership (stamp duty etc), this doesn’t even make sense on the face of it.