Last nights 9 O’Clock news claimed that it’s now cheaper to buy than rent.
The example they used didn’t come close to adding up.
They claimed average rent for a two bed in Dublin is 1200 euro.
That could be true.
They then claimed that if you bought it for 250K the monthly repayment
would be 650 ish (I didn’t get the exact figure but somewhere between 600 and 700.
I’m finding it hard to find a two bed apartment that rents for 1200 a month that
can be bought for anything close to 250K.
So. Were they wrong?
Or. Were they giving an indication of just how low an offer you can make when the
asking price is 400K-500K