Dysfunction in the Market

The Irish Property Bubble (2006) Sell, Buy or Rent?
#1

Just reading today about the various NIB branches up for sale. €1m on O’Connell St. - €4m on Dame Street.

When you look at commercial property it is hard to see why anyone is paying €1m for a semi in Blackrock.

Seriously - I could buy a tenented industrial estate (not just a unit) for the prices of some family homes.

That place on O’Connell St. would make some pie’d a terre - parking out back too.

Landmark NIB building goes on sale for €4m
irishtimes.com/newspaper/fin … 95991.html

€1m for O’Connell St landmark
irishtimes.com/newspaper/fin … 84054.html

Also going for sale are branches at Main St, Malahide (€600,000); Walkinstown (€370,000); Main St, Finglas (€250,000); Rose Inn St, Kilkenny (€620,000); Ballinamore, Leitrim (€140,000); Monaghan (€320,000); Mullingar (€415,000); Carrick-on-Shannon, Co Leitrim (€240,000); The Bull Ring, Wexford (€430,000); Drumshanbo, Leitrim (€140,000); Bailieborough, Co Cavan (€140,000); Letterkenny (€240,000); Earl St, Dundalk (€800,000); Stephen St, Sligo (€400,000).

A serious trader knows when to take losses and get out. I have looked at a few NAMA’d premises recently asking bubbly prices.

#2

My point exactly.

#3

Yes, I have been looking at Dun Laoghaire commercial property for some time.

Some places are relative bargains - just need one with the right parking.

myhome.ie/commercial/brochur … lin/360910

#4

Factor in your ongoing and upwardly revalued RATES TAX. You are buying a liability, I’m not sure they could give them away free at this stage.

#5

I don’t believe they would have any problem giving them away free.

#6

I don’t believe you don’t believe that :smiley:

#7

Ghost estate for 550k - inc. 5 houses and planning for 33.

irishtimes.com/newspaper/fin … 83835.html

#8

]

It sold boomtime for 9.5 million and now the yobbos have the audacity to write this…

FFS!!!

:unamused:

#9

So we are agreed then, they are worth at least ZERO minus the RATES.

Do I hear any offers at *€-100K!

*anyone know what the rates are on a place like this, must be massive!

#10

Is it possible to have the usage revised to residential on commercial buildings?

#11

Anything is possible but everything is now a political matter wouldn’t you agree?

I for one welcome the stratagems of our Keepers of Destiny! :angry:

#12

Me too, if you want to score a relatively cheap commercial property and turn it into a gaff you better start going to funerals and having a word in the ear of the public servants who can be found there supping tae.

#13

Yes.
That was my whole point.
Just the cost to change use is blocking activity from occuring.