I called DLRCC about these apartments, previously there was a lottery and waiting list
but now all you have to do is apply and be a FTB with mortgage approval.
The woman I spoke to told me a large proportion of applicants on the existing list could
not get a mortgage that’s why they dropped the price and relaxed the rules.(unofficially of course)
Application to move in about 2-3 months now.
E.B.S will give a 100% mortgage over 35 years at about 3% variable if it’s for A.H.
If you want to feel like a big-shot you can always put down a deposit of 8%(15,680)
to get a 2.7% variable. That’s €565.00 per month after tax relief.
€565 what a rip-off, fair value be €431 in 18 months when it costs 150,000 ebs.ie/site/All/EBS%20Affordable%20Housing%20Mortgage?Opendocument
2 Bedroom Apartment, Time Place, Sandyford, Dublin 18.
From €196,000, 2 Bedrooms, 2 Bathrooms, Apartment For Sale
This is an affordable home provided by Dún Laoghaire Rathdown County Council. daft.ie/1469168
20/06/2009 9:30AM 2 Bedrooms, 2 Bathrooms, Apartment For Sale From €196,000 Price changed
28/9/2009 10:42PM 2 Bedrooms, 2 Bathrooms, Apartment For Sale From €211,841 Initial Price
Just in case anyone is not familiar with management fees in an apartment complex this is average for a 3 bed in Sandyford, 2 beds run about €140 to 180 per month and this drops as more residents move in, there’s also a tax credit for the bin Charges percentage of the fee. The example I gave above is for a 2 bed daft.ie/1469168 and is just to show where we are at this moment in time for the F.T.B. in your middle of the road south Dublin neighbourhood.
180 management fees
35 mortgage insurance
Is this approaching a good deal for a F.T.B. couple,
(Fair Value, Good Deal, Complete Rip-off) I will leave it for you to decide.
Rents in this building are €1300pm right now daft.ie/2693085
I personally believe they will fall 25%+ over the next few years.
It was this kind of overwhelmingly simple point that was glossed over time and again during the bubble. At that time we would have heard about Sandyford that it had easy access to the M50, was near lots of employers and new hotels, that it had the Luas and was an area that would hold investment value and all this stuff. I remember I’d always think about this kind of rationalisation…so what?? It’s still just a soulless, horrible industrial estate on top of a windy hill in the arsehole of nowhere. Your anecdote suggests that if you give people enough time living up there and they’ll come to the same conclusion. Quelle surprise!
Meanwhile the developer is still trying to sell new-build houses for 450K myhome.ie/residential/brochu … -18/226380. Now why would you pay that when you could get one secondhand for 319K?
Must be some game to keep the asset valuation looking high for the bank? Clearly no hope of achieving that price…