High-end price drops in Malahide

These are typical “bubbly” houses, built after the boom began. No significant drops yet (of say 20% or more).

9 Abbotts Hill, Malahide (-399k, -11.1%)
20th May 2008
Price changed: from ‘Excess €2,700,000’ to ‘Excess €2,400,000’
12nd Apr 2008
Initial entry found.

2 Chamley Park, Malahide (-100k, -6.7%)
20th May 2008
Price changed: from ‘Region €1,500,000’ to ‘Region €1,400,000’
12nd Apr 2008
Initial entry found

This is a slightly older drop. No recent movement.
Stonehill, The Hill, Malahide (-205k, -10.8%)
25th Apr 2008
Price changed: from ‘Region €1,900,000’ to ‘Region €1,695,000’
12nd Apr 2008
Initial entry found.

This one is more of a trophy house, “an award winning 1970’s architecturally designed five bedroom detached family home situated in a quiet cul de sac.” It’s still listed on Daft through Sherry FitzGerald Blanc at its original price, while Kevin Flanagan Estates have dropped theirs.
7 Grove Lawn, Malahide (-200k, -11.8%) (edit: the previous -20k was obviously my typo!)
20th May 2008
Price changed: from ‘Region €1,700,000’ to ‘Region €1,500,000’
12nd Apr 2008
Initial entry found

The prices haven’t changed on myhome for a few of those. Thanks for the heads up.

BB

From memory, this was initially 1.6m

You’re quite right. It was listed on the 'pin in August 2007:

thepropertypin.com/viewtopic.php?p=21981&sid=a0a8567a9c834b716e57db39077a89ba

So that’s a drop of -200k, or -13.4%

39 €1m+ Malahide houses currently advertised on Daft, many of them recent builds. That seems to be a considerable backlog of inventory.

These houses sold new from 1.55 to 1.65 plus stamp upwards and the stamp saving was not great. The development of a block of flats virtually looking in the front window will not help the resale prices. Developer just got them away summer 2006 having packed them in fairly tight.

This means buyers at top of boom are looking at €300k ish of loss.

One could see these selling for €1.2m in 6 months which would represent a €500k loss in less than 3 years.

I think its a shame whats happened to Malahide, its been overdeveloped up the kazoo, over priced in some cases for newly built junk over the last ten years and and good luck to anyone who lives there trying to get in or out must be horrendous and add to that at the weekend you have a line of taxis bring people out to eat and drink locally.

I think as a place to live its probably gone from a 10 to a 5 because of overdevelopement of housing and underdevelopement of infrastructure.

Well said, that man. I think a combination of my experiences with the UK property crash of the early 90s and seeing what happened here in Japan combined with seeing what was happening to Malahide, where I grew up, on my occasional trip home was what convinced me even around 2001 that something was just wrong with the Irish property market.

That said, I still maintain that the worst financial advice I ever got was from my retired BofI manager uncle in about 1995. We visited the still under construction Malahide Marina where I was considering buying a one-bed flat. My uncle finally said that it would be a mistake to buy in Ireland as the “market was going nowhere but down.” Well, he was about 10 years too early with that one!

I’m from Malahide and wouldn’t agree with everything mentioned. Yes, a lot of development over the last 5-8 years. But this is mainly located on the Swords road and it’s basically Swords. Robswall is a big-ish development, but in fairness, the views are fantastic and that site was always going to be developed on. I don’t think Malahide is overpriced per-se, rather it’s the market that’s over priced. Malahide will more or less command values +25% over swords and portmarnock. Traffic in Malahide is not as bad as I thought it would be. I moved from Lucan, where the traffic would be considered bad, but I was suprised. Busy times of course are the school runs by very yummy mummys in 4x4s.

At the risk of sounding like a nostalgic old fart, one of the best things about growing up in Malahide in the 70s (apart from the unspoiled beach, and the amenities, closeness to the airport and other things that haven’t changed) was the lack of development and the large amount of undeveloped land. We moved into Ard na Mara when it was brand new and the first estate in Malahide. Even just in and around Ard na Mara there were a huge number of places that were semi-rural, wild, overgrown and just great places for childhood adventures. Every one of the places that I can remember playing in are now built on. That leaves the parks, which are all well and good but a bit sanitary for the fertile imaginations of young wans.

I suppose you don’t miss what you never had, so people who grew up in Malahide a decade or two later, say after the beach area was re-landscaped, would see it from a different perspective. Does anyone under 40 even know that there used to be a cinema in Malahide?

Number 4 Chamley now down to 1.2, 1 + 2 still at 1.4.

myhome.ie/residential/search … VAMY373621

Looks like a fine house, per sq ft for the area this looks like ok.

What is the sq ft of this property? Can’t see it on the add (but then maybe I’m just been blind). Looks a nice house (to me) if ya knock at least another 500k off…

I can accept that The Mall is one of the nicest set of houses in Malahide. And so prices there will be at a premium. But…

A 6.4% reduction, from €2,350,000 (Property Bee) to €2,200,000, qualifies as “reduced to sell”?! Not in the current market, it doesn’t. That’s just taking the piss, false advertising at best.

I think that’s an unfair assessment; most of the developments are closer to Malahide than Swords on the Swords Road; not in my view, basically Swords.

That being sad, traffic in Malahide coming through the diamond at certain times is horrific. 5-6 features as being really bad in my experience.

Can you explain this please?

Is this something along the lines of “my area is ok, but everyelse is overpriced”?

I think Malahide is overpriced, along with everyother house listed for sale.

I think his point is that Malahide is not disproportionately overpriced compared to the rest of the market; it commands a premium as a general rule but the rest of the market is so crazily overpriced the premium makes Malahide look particularly bad.

myhome.ie/residential/brochu … lin/112742

myhome.ie Price History for 4 Chamley Park, Malahide, Co. Dublin
-€350,000 -29.17% €1,200,000→€850,000 11 minutes ago

7 Grove Lawn now asking 750k (down 56% on 1.7m price)
daft.ie/sales/7-grove-lawn-m … n/1015369/