PRICE OPEN TO OFFERS …MUST SELL NOW !!!
Forget about the asking price, this one must be sold before 92-95 percent mortgages are withdrawn. How much would you offer?
120K - maybe, if i was feeling a bit flush.
I think places like that are worth no more than €300k
Without viewing, forty five thousand max (45k)
I agree with DE no more that 300k. Its in Dublin2 so worth a good bit more than the average 2 bed out in Clonee or somewhere like that
Well, as an investor I’d want a yield of 7.5%.
Assuming no vacancies and no maintenance, and that rents will hold up at 1,400 then 225,000 would be the upper limit I’d pay.
If I was dead keen on living there I’d pay 275,000.
I disagree with you Verbatim. I don’t think you can rely on rents to hold up. IMHO and by gut feeling not maths cause that is where we are at right now. You can’t say how low the market will go. I would say your experience of Ireland and all your education and everything else you know would stand you better under these circumstances. I would put this place at 80,000. Good location but it is like a bee hive, everybody is on top of each other and assume the sound proofing is terrible. I pass this place every day going to and from work on the Luas.
As for rents. I’d guess less than 500 when the dust settles.
BB, I don’t disagree with you that rents are going to come down. I was just making some generous assumptions to put an upper limit on what I would pay as an investor. And that upper limit is 50% of the current asking price.
Rent around there will never drop below €500 per room per month …€1000 . Come On People!
10% gross yield on current market rental value would be my guess. Which would allow for voids due to oversupply, falling rents and ‘management issues’.
Say €170,000 ish
To an EA that tried to flog this to me I would just say
That’s “Celtic Tiger prices”…I’m offering “Recession Prices”
flash said
Oh how true and Id love to see the expression on an EAs face if that remark were made. I mean when you look at some o the s*** they spouted during the bubble.
why not?
Never say never
Just to put it slightly differently: They want almost HALF A MILLION EUROS for this property.
If I was a single person earning €100,000pa, I wound not earn enough to be granted a mortgage on this shabby little shoebox, even if I had a €50,000 deposit. (Ever been in these apartments? If not, believe me, shabby little shoebox is an accurate description).
I used to find this stuff kinda funny. Now I actually find it upsetting and disgusting. The greed, the stupidity, the illogicality, the sordid grubbiness of it all. Makes my skin crawl.
It might help if they put up more photos of the place.
“one photo of the outside of a building, price of half a million euro? Where do I sign?!”
Is this an early sign of the “Desperation” stage of the market cycle?
If they really are that desperate surely just hold an auction with no reserve.
You would get great publicity for it and I am sure it would draw the crowds.
He can’t be too desperate to sell, when he couldn’t even be bothered to take a few photos of the interior 
Absolutely nothing. A friend of my husband’s used to live there and she said the gates to the complex were a magnet to the kids and teenagers from the flat complex across the road. They were always banging on the gates, running inside if anyone was buzzed in and smashing up the gardens.
They regularly had drunks pressing on the buzzers in the middle of the night for fun. And the gates always smelled of piss on a weekend morning.
Drunks pressing on the buzzer in the middle of the night???
For fun???
Intercom: ‘This is Paddy from the waterworks, just wanted to check if your taps are running OK’?
Owner, furious at being woken up so late at night: ‘Hang on, I’ll just go in the kitchen and check’
…goes off to the kitchen…checks the taps…comes back
Owner: ‘Yes the taps are running OK’
Intercom: ‘Well why don’t you run after them so HA HA HA!’
Sometimes it’s funnier that time of night.