Hi There
New to the Pin. recently arrived back from UK and looking for somewhere central
I have seen these apartments
2 bedroom apartment
myhome.ie/residential/brochu … -2/1736973
on the market for 325k
Using propery bee I seem to notice they dropped to 310k then back up to 325k
They look like they were on the market for 800K at one time
collapso.dyndns.org/JavaHost/ser … ing=Active
any thoughtswould be appreciated
Thank you
It looks as though the 325k price is for the smaller apts (circa 90 sq m) at the back of the Georgian building. The apts in the Georgian building look fantastic - but I believe they start at 500k!
If you assume that this type of property would mainly suit an investor (not exactly family homes), then at 325k they seem expensive. They would generate monthly rent of circa 1,500 and the annual management charges are circa 3k - therefore the yield is circa 4.5%. While I wouldn’t expect them to generate the 10%+ yield that’s available on less “exclusive” developments (such as Castleforbes Square, Crosbies Yard), I would be looking for more than that. Also, it looks as though the apts at the back look onto the council houses on Verschoyle Place - not exactly a nice view!
Despite that - wWhile the market is flooded with apartments (and its likely that there’s more supply to come) - there aren’t many out there of this standard, particularly in this location (despite what I said above!)
I hope this helps! Do you know if many of them have sold? Are they all for sale? Looks like there are 17 apts in total (10 in the Georgian buliding, and 17 at the back).
24/10/2012 Apartment 5, 18 - 21 Mount Street Lower, Dublin 2 Dublin 2 Dublin €610k
Were some priced more expensively than €550k or did the bidding just get out of hand.
myhome.ie/residential/brochu … -2/1736973
The blurb is still saying “from 350k” but obviously they have heard about the fantastic fundamentals underpinning the Irish Economy and the 3% unemployment and low tax so have up’d the asking to 425k. 75k increase, so a slight 20% increase.
Ridiculous.
There is little or no value out there.
425 for a 2 bed apartment.
G’wan!
TB
Nice apartment.
But far too much.
#1 sold €500k on 7-8-13