First thing to note is the vast difference ranging from €630 to €1137.
You might think that’s because the highest priced place is a plush apartment right beside a Dart. But no, it’s a pokey little terraced house.
Does anyone have similar figures for Manhattan?
I know that when we were looking in Florida, we were looking in the range of $100 to $150 per sq ft. And now that prices have falled over there sub $100 is not hard to find.
Maintenance charges (or the lack thereof) will account for some of the differential. Can anybody tell me how much more I should be willing to pay (all other things being equal) to avoid maintenance charges of say €2,500p.a.?
The price/sqft gives a very good impression of the level of over valuation. Coming from Germany and living in Ireland I am often comparing Dublin prices with my hometown. There (city with 500.000 inhabitants, 25km commuting distance to Dusseldorf) you can expect the following prices:
New apartment, good area: Up to 2500€/sqm or 220€/sqft (including highest possible insulation standard, underfloor heating etc, but no furniture like built in kitchen)
E.g.: 80sqm/189k, 2-Bedroom apartment (That was actually the most expensive I could found with the criteria"2-bed appartments up to 80sqm"!!)
Secondhand home, 40 years, average area: 900-1200€/sqm or 80-110€/sqft
E.g. 80sqm/ 82k, 2-bedroom apartment
That is less than 20% of Dublin prices. Given the fact that average salaries in Germany are about the same than in Ireland (about 37k pa.) you get an idea how much house prices could probably fall if other economic indicators turn down in Ireland.
Comparing USA and Ireland on a price per sq/ft isnt always as revealing as it seems.
In the USA, and especially manhattan, higher borrowing costs and property tax create huge differentials on affordability. Also service charges in manhattan are colossol - anything up to €15 sq/ft.
You can also add in parking spaces at c€150,000. And dont forget to tip the doorman at the end of the year (and we’re not talking €20 !)
Bottom line is 1000 sq/ft property in Manhattan costs a hell of a lot more in annual outgoings than dublin 4.
But my search above showed actual annual charges AND included parking on the Upper East Side.note that there are state taxes in the US, but it would appear that D4 is more expensive than the most expensive parts of manhatton as are arcice and maintenance charges.