Limerick city centre

Looking for some informed opinion on Limerick city centre living. I knew from my own averages that it’s the cheapest urban area in the country for housing, but looking at specific places you can get a 2-bed apartment for a crazy cheap €50k. What’s the catch?

Considering the options for a UL college student so this is not a rhetorical question. Buying an apartment looks cheaper than renting a house share. And prices seem to get cheaper the closer to the city centre you go. (For reasons I needn’t go into, the city centre is more convenient in this particular case than nearer the campus in Castletroy).

Would really like to hear from knowledgeable others whether Limerick city centre, is kippy / seedy / otherwise unsuitable for a teenage female UL college goer. Any particular locations to avoid / not avoid?

Ta in advance.

UL is a good bit outside the city centre? Castletroy might be a good bet.

I’ve not lived there but worked in, commuted to, and visited friends in various parts. The catch is there are parts of Limerick that many would not feel safe walking around, especially at night. O’Connell st at night time can be a very unpleasant experience.

As for the no go estates, you already know the names.

As for the better areas, the Ennis Road has lots of appeal, but I’m not sure about access to UL from here. O’Connell Avenue has lots of nice redbrick houses and is not far from UL or the city center. Both the circular road have lots of decent houses. Raheen is a fine area, but well out of the city. I’m sure there are many more but these are the areas I’ve noticed.

Go there, drive around, walk the streets, it will become apparent which areas are good/ok/bad.

Tbh, you get what you pay for with a lot of those cheaper apartments. Looking at the price bracket you are talking about you have places like Mahon House and Mount Kenneth, neither of which you should touch with a barge pole, unless vagrants shooting up (drugs, not guns) and defecating in the communal hallways are your thing. I don’t know about the place on Broad St specifically but I do know of other developments in the area that would be undesirable, so suspect that development may be the same but I can’t say for sure. The Clare St one is the only one I wouldn’t give an unequivocal no to but that’s not to say it isn’t bad, I just haven’t hear too much about it.

If you were really interested in buying rather than renting taking a quick look through myhome, upping your budget and looking at the house in Bengal Terrace might work. It’s a city suburb, 15min stroll from the city centre, nearish to the 304 bus route that will take you to UL. A quiet, safe, settled street (though the ‘neighbours’ across the road might be a bit too quiet for some - it’s a graveyard) not too far out of the city and would definitely hold value better than any of the city centre apartments. But not quite ideal in terms of location, you could definitely rent something more convenient.

Genuine thanks all for the input.

Like I said, there are reasons for the city centre interest. In short, the particular discipline being studied will involve placement work on the other side of the city from Castletroy, so interested in a central location equidistant from campus and this other location.

If any other info, keep it coming. Sounds like some of the city centre is to be avoided. Personally, it sounds horrific. (I was wandering around Limerick city centre yesterday and it wasn’t entirely salubrious even in broad daylight on a Saturday). But I’m asking for someone who’s going to be thrown in at the deep end one way or another. I would like to help them out. So all options considered.

I spent a few years in Limerick…I found that there wasnt ever a whole lot in the city centre to make it appealing enough to live in…used just head in some weekends for a night out…I stayed in Castletroy and while it wasnt particularly appealing either, at least it was close to the University and was on the Dublin Road…Its more like a big town with some large suburbs than a real city…I think the Ennis Road was the more salubrious part but it seemed to be a bit of a trek out the other side of town…one thing I distinctly remember was that the public transport system ie the bus service, was terrible…not sure if thats still the case…but back then u could often be waiting an hour or more for a timetabled bus to turn up…

The 40-50k apts are generally off the dock road (mount Kenneth, Steamboat quay) which do house addicts or other unwholesome elements, even the prostitutes avoid it.

UL is a bus ride from the city and a lot of them stay in Castletroy so it might be a bit isolating for an 18/19 year old girl, I would suggest letting her share a house for first year and sort out new friends and see what she wants to do, remember when she finishes college you still own the apartment.

This: … k/1088893/
is a 20 minute walk to UL and 3 minutes from the nightclubs / pubs but also 10 minutes from the ‘Island field’, Limericks undesirable areas are dotted around the place, there is no section of the map that reads ‘here be dragons’ for you to avoid.

Another example of fragmented social demographics:
This sold for €420k 3 years ago … ng-4061712

My sister went to up and worked in the less suliburous pubs and never had an issues. Its no more or less safe than any city centre at night. There usually isnt much happening except at weekends so the wide empty streets can appear a bit eerie.

If the placement work is in Raheen/Dooradoyle, The 304 Bus services Dooradoyle/City/University every 15 minutes

For a place in the city. This would be an OK option in my opinion. Safe enough and a small complex off a busy road

Thanks again all. Person concerned plans a bicycle commute.

Just as an aside, some of the purpose built student accommodation apartments near Castletroy look to have taken a hammering. Collapso shows some 2-beds with asking prices of 250k a few years back, now asking 60k. In fact, a bunch in the same block appear on the PPR all on the same date in 2014 as going for 30k. Sounds like the madness extended even to student quarters.

Always good to get the opinion of the people in the college This thread may be of interest

Just a note that the rental stock in Limerick is very low, hearing lots of stories of rent increases and desperation at trying to secure accommodation from colleagues at work (Castletroy)

To put that in context though, a year ago family houses in really nice city suburbs were selling for that kind of money. And even though that was the bottom of the market (so far) and the market has experienced an upswing in sales since then. There are suggestions that the new CB rules are now starting to have an effect and sales are slowing down again. So I’d be very wary of buying something here because it seems cheap compared to other cities as it’s not necessarily good value.

I’ve lived in Limerick for fifteen years (not a native), it’s perfectly safe although there is more of the tracksuit and hoodie brigade than is noticeable in other cities. I can’t say it’s any worse than Dublin or Cork, although many of the middle classes seem to be out in the suburbs, (and spend weekends in Kilkee or Ballyheigue during the Summer months). In recent years the Milk Market has made a big difference, and there is a big pick up in the place generally. Limerick’s charms aren’t obvious, but it has some nice Georgian architecture, some excellent pubs, and is really cheap to live in.

Steamboat Quay wasn’t bad when I lived there, not sure now. O’Callaghan and Clancy Strand both seem very pleasant. There’s Apartments on Henry St. that are very nice, a few of my friends live there and rarely complain about anything.

Mount Kenneth is indeed a kip. Avoid like the plague. That said I walk near enough to there fairly regularly and while there is an alcoholics dry out area nearby I’ve never had any trouble with them.

PM me if you’re checking out a place.

Bought last year after seeing the 30 properties on my watch list reduce to 5 in a 3 month spell. Stock fell from 1200 to 800 in the same period and is currently at 446.

I still have the email alerts for new properties and its just a trickle and it covers the outlying towns and villages as well as Limerick City and Suburbs.

Can’t see the CB rules making much difference at current prices and stock levels. A ramp up on repossessions may have more of an impact but at current stock levels I would imagine they would be soaked up quickly by existing demand if priced realistically. Could see REITS coming in and buying up as the rents increase and no new supply coming on stream

I was so confused when I started reading that as it’s so similar to my situation that for a minute I thought it was a copy and paste of something I wrote elsewhere. I bought a nama property last year and in the 8 months it took for the sale to go through I saw my back up list go from 20+ to 1. Properties that had been on the market for years suddenly sold. That said at the end of the year I looked through the PPR and saw that while sales rose (ie actually happened) prices didn’t really rise. A few people I know who are house hunting now say that it was this spring that prices rose as there was less supply and more competition. The latter was probably as a result of potential buyers being panicked by the upswing in sales and a rush by those who only had a 10% deposit and wanted to buy before the new CB rules came into force. There has been a few posts on boards recently where current house hunters are saying that the pressure from earlier this year seems to be easing back again.

I think it’s still too early to call if prices are going to go up, down or remain static. The large amount of sales that happened last year will mean that a lot of cash rich buyers have exited the market as they bought. But that the same time there are sellers who were holding off on selling until prices rose and I know it’s just anecdotal, but I know of 3 soon to be sellers who had been holding out for prices to start rising. So I’d urge caution to anyone thinking of buying now. They need to be very sure of what they are going to buy and how much they are willing to pay. For someone coming from another city, a particular property may look like great value compared to their local market but actually be massively over-priced. Using the PPR to see what properties sold for last year. While last year may prove to be the bottom of the market here and those prices may not be replicated, it is still useful information to have because some of the asking prices are seller fantasy, and large jumps up in prices are rarely sustainable especially when coupled with what may have been panic buying from buyers who’s buying power was about to drop significantly in the second half of the year.

Ireland is too small for a major urban area like limerick to be completely left behind

limerick is still dirt cheap compared to galway , it only left the bottom a year ago unlike galway which hit the bottom three years ago , the only thing I don’t like about limerick as an investor is that rents are so low but they are also likely to rise abit

Left behind from what? Unsustainable, high house prices that don’t reflect the house’s value? Another generation of young people massively indebted or priced out of ownership? Last year what we were seeing here was the beginnings of good value, nothing was dirt cheap then and nothing is dirt cheap now. Things were just about heading toward where they should be comparative to incomes. If prices rise again, both for purchases and rents that is a bad thing, not good.

And Galway prices have been utterly bonkers for well over a decade. Being cheaper than Galway means little because Galway properties have represented some of the worst value in the country all through the boom.

Purely on paper, Limerick city looks like a good investment from a BTL perspective.

Dublin is going to become unattractive for FDI very soon. Mainly due to expensive accomodation and increasing congestion. By contrast Limerick has:

-Housing costs about half that of Dublin.
-Just about close enough to an airport with good international connections (I am talking about Dublin airport!)
-A university with a traditional industry focus

All of this will makes it attractive for 2nd-tier multinationals as well as Irish firms looking to consolidate back-office functions, etc.

That said I don’t know the place. I had one or two nights out there years ago and it has more the whiff of a country town than a city. People say unpleasant things, both in person and online. That said it looks big enough to live far enough away from trouble if you know where trouble is.

I could think of much worse investments than a 2-bed in the city if I had 1) 80k making next to 0% on deposit; 2) one or more kids about to go through UL. I don’t see much downside over a 5-year horizon.

limerick is cheap to buy in but rents are very low , even out in the likes of dooradoyle , four bed 1100 sqr fot houses can be rented for 900 per month , they cost about 190 k to buy , anything above 7% is difficult to find unless you buy crap , 7% yield can be achieved on a BTL in galway despite it being at least 25% more expensive to buy than in limerick

im referring to the city centre of galway , not knocknacarra etc , appartments in galway rent for at least 40% higher than in limerick city however

as for limerick having the feel of a country town , that’s one thing I would not accuse it off , galway has a much less traditional urban vibe

while galway is even more expensive than Dublin for what it is , you need to deal with the situation as it is , not as you would wish it to be

limerick is cheap by any objective measure within the context of the irish market , its cheaper than all of the main commuter towns around Dublin