Initial Offer Price

I’m a first time buyer (novice) looking at a property in Kilmainham with a list price of €280,000 - this has gradually come down from the ridiculous €495,000 initial price when the development was completed in 2007.

On viewing, it was apparent to me that the property has never been inhabited. I am also led to believe that the developer may have gone into bankruptcy.

I’m looking at making an offer of €200,000 for this property, which is a 2 bed duplex with a third smaller room laughlingly advertised as a 3rd bedroom but which, in reality, is more of a glorified cupboard with a window.

Is this offer realistic in the current climate?

No offer is too low to begin with.

I’d be surprised if it was accepted immediately but if it’s a price you are happy paying why not leave it on the table with a get back to me in three months and it’ll still be there type offer if refused!

I am guessing the apartment you are looking at is in Camac View? If so, then yes, I think the developer is under pressure and these have been for sale for ages. added to that you have the huge bank of unsold apartments at houston south quarter just down the road.Factor in the management fees as well. Personally I wouldn’t touch an apartment but you can be sure some eejit will bite eventually.If it is the same development I am thinking of then it has dropped again to €250,000
daft.ie/1384237

Follow the price drops here
irishpropertywatch.com/viewSales … &Site=daft

I made an offer today on a house that was €350k or so 12 moths ago. It’s now dropped to €250k. I offered €170k. It will, of course, be refused…for now. Offer the €200k (or less). You have nothing to lose. But I’d still caution about getting a large mortgage now.

I thought camac view as well - note that last ad I saw said there was no parking left, and you won’t get on street parking (ffs building a small complex without enough spaces) so I wrote them off at that point.

That and the complete lack of facilities in Kilmainham - I actually don’t have a car despite the above, so think a supermarket withon walking distance is important. If Superquinn does open in HSQ, then maybe, but I’m sure they’re trying to get out of it!