Forgot to photoshop Tom Maher’s sign out in Photo #2
Oops they forgot the blue sky and Ferrari motorcycle!
I presume there’s laser sharks in the bath?
Needs more fire.
On a more serious note, this property is a prime example of whats wrong with the country. €510,000 for a structure that could be replaced for under €200,000. I doubt that site is wourth €100,000.
Might shift a €250,000.
I’d say it would shift at 350 if the vendor advertised it at that price right now.
I dont know about that, €350,000 is a lot of money for what can only be called an average house, at best.
Plenty of people out there with what can only be called average intelligence, at best, when it comes to major financial decisions. Some of them could raise €350k.
I just plugged some nominal figures into Ronan’s Rent or Buy Calculator based off a purchase price of 350,000, 85% loan to value, 30 year term…
There’s a 4 bed renting in Churchtown for 1550… For safety’s sake I adjusted this to €1000 (matching the proposed fall in the price of the property) and assumed static house prices and rents… 5% average mortgage rate and a 5% average return on investments…
Apparently, we’ll lose €373,797 on this puppy…
P.S. Even at a 3% return on investments and a 6% interest rate, it’s a loss of over 200k…
Hey, I’m not saying I’d pay 350 for it, but there is definitely at least one person out there who would.
Detached house in Churchtown? Sure anything less than 600K is a freakin bargain. Er.
If we were any good, we’d be able to replace it for less than 75K. (I’m referring to use of latest technology and best practice; the utilisation of economies of scale; and bringing down labour costs and productivity towards European norms). It’s just a fairly basic, unimaginative box in all honesty.
I would accept the point above, wgaes in the construction sector were about as far off the mark as values put on some properties during the bubble. The registered wage agreements still haven’t been adjusted downwards to reflect the new realities of the industry.