Let me start off with a bit of background information before I get to the question. My husband and i have recently moved here from Australia, which is quite a change; the problem with this is we are very unfamiliar with Dublin.
We are currently living in Portmarnock, which is nice. But my husband has recently relocated his offices to Balls Bridge.
Now to the question, how much should we be expected to pay for a top end rental property in the Southside? I have been told most properties are grossly over valued, which doesn’t help if you’re not from Dublin.
At €7,000 a month you can pretty much take your pick of the best areas in Dublin. One feature of our wonderful property bubble is that there is a huge disconnect between the cost of buying and the cost of renting at the upper end.
A mortgage payment of €7,000 would get you a modest enough family house costing say €1.3m. The same in rent will get you a house that is valued at €4m+, because yields at the top end are as low as 2% or less. Paying that much rent wouldn’t raise an eyebrow in London or New York but in Dublin it is a rare occurence, therefore you get the pick of the crop. You also have room to negotiate. Take a look on Daft.ie and see what you can find.
If you can afford to spend that much, surely one of your servants can go looking for places to rent?
For that kind of money I would go into an Estate Agents office and ask him how you find out what’s available - whatever you do (after he’s recovered from his initial shock), don’t let him sell you a property
7000 is the maximum, i would like to pay less than that. I have been looking on daft and i found a very nice property in Balls bridge but it is at 15000, do you think we would be able to negotiate it down to our price range?
Here is the property www.daft.ie/29946
Move closer to the coast. If you’re going to spend the kind of money you are thinking about, you may as well have a view of water. Giving ye a view on what we think are “nice” areas is a very subjective exercise. I’m quite happy living in Templeogue/Rathfarnham but I play rugby with a few Ross O’Carroll Kelly types who think it’s a slum. My advice is to take a drive some Sunday and see the areas for yourselves. As a general rule, east=“better”, west=“worse”