Price Per Square Foot

This is just a random sampling of Apartments and houses around the Ringsend area, which remember has 200 apartments sitting empty in the Gasworks.

This is the cost per square foot to buy based on asking prices on Daft.

sqft price price/sqft
735 600000 816
711 595000 837
764 510000 668
807 525000 651
753 750000 996
635 580000 913
699 540000 773
710 570000 803
872 695000 797
690 435000 630
872 635000 728
560 550000 982
484 450000 930
615 530000 862
409 465000 1137

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.

-Rd

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.?

@5% that would be worth €50,000.

Just did a quick search on this site:
manhattanapts.com

I searched Upper East Side for 2 bed apartments, which is probably near top of the market location wise (more D4 than Ringsend).

The most expensive result was: €1,000 per square foot (Park Avenue), but that also included a garage and a roof garden.

The cheapest of a limited search list was €590 per square foot (Lexington Avenue).

Also note maintenance charges range from c. €500 for the low rpiced Apt. to €1,500 for the expensive one.

geckko,

Did you convert $ to €, or are those meant to be $ prices.

jcsmith
With regard to saving on Maintenance fees don’t forget that some maintenance fees include things that you’ll otherwise have to pay for like waste collection etc.

So, you can’t write off the full maintenance fee, just the difference between the fee and what you’ll be paying anyway. But your point is valid, re: differences in price per sq ft.

-Rd

Thats all converted to Euro @1.5.

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:

  1. 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"!!)

  1. 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.

In my line of work (IT Sys Admin) I’d easily be able to command at least double what I’m earning here for the same kind of position in New York city.

It’s like comparing apples and oranges though, D4 is not and never will be Manhattan.

Wait until Mr Dunne et al transform the place with their ‘fantastic plans’ :unamused:

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.

realtor.com/search/searchres … bd=3&typ=2

Don’t know if manhatten is there but then you’ll find ample propertys here to compare to Dublin.
Add 2-2.5 % property tax p/a + maintainance.