No need to imagine, we’ve done it every few decades.
Its not that long ago far flung places like Blancharsdstown, Ballymun, Tallght and so on cried out for investment and facilities for the children, improved Bus services, schools… I grew up through it so remember it clearly, as do many pinsters I am sure.
This time we’ve really scaled up the model!
All totally avoidable all totally predictable.
We suffer fools we get mega multi malfunction in return. Simple really.
Berehaven in D5 could be one to watch as prices seem high for Raheny. The new watermill development nearby have been complete for over a year and units are still available -
Headline price is POA on myhome.ie, but are available in the blurb:
2 Bed apartments range in size from approx., 78–87sq.m. (840-936sq.ft.). Prices from €515,000 - €585,000
3 Bed penthouses range in size from approx., 102-116sq.m. (1,098-1,249sq.ft.). Prices from 645,000 - 765,000
3 / 4 Bed townhouses range in size from approx., 96-131sq.m. (1,033-1,410q.ft.). Prices from €695,000 - €875,000
Apartments in bleedin’ Raheny? They must be having a laugh.
They’re worth 200k tops.
Do they take us all for complete morons?
Ooh look honey, it’s so fabulous, I can have hot, cold or warm water in the shower!!! Omg, we simply must buy it darling…!!!
Last summer soon after people moved into those apartments in watermill ,Raheny, a forest of for sale signs appeared outside them.
I could nt believe it.
Interestingly enough during the same week whilst driving through Lucan I passed a new apartment complex also with a forest of for sale signs up.This to me looked like panic.
Less than a week later I was walking by the watermill apartments in Raheny and all the for sale signs were gone.I drove through Lucan that weekend and checked the apartment complex there and lo and behold all the for sale signs were gone.
I was told by a friend in the business that EA’s would have taken them down as this would have set alarm bells ringing in prospective buyers.
I wonder is there anyway to find out how many houses are vacant in a new development without talking the EA word for it.Would be interesting to see what new developments are in big trouble
You can see why they might do it but it isn’t going to help in the slightest to sell the properties.
The developers of Manor View in Raheny (Watermill Rd) have written to prospective buyers announcing that their development of apartments/townhouses will not be put on the market until such time as the current market situation improves. I assume we’ll see these on the rental market before too long.
Watermill has at least 2 * 3-bed duplexes and 2 * 2+study apartments still for sale - been for sale since before June 2007 anyway. All 4 remain unoccupied.
BTW the management company in Watermill insisted on the removal of the for sale signs - a couple of for-let signs went the same way.
I would have a problem with that, I mean who owns these apartments? If it were mine the sign would go up, are these people trying to put sellers in the poor house by stopping them from selling or taking a hit to reduce a loss?
After all the reason the houses/apartments are worth less money is because they were overvalued in the first place, and who did this? Correct, probably EAs in conjunction with the developer and now they want to hide this or prevent other people from purchasing at a more realistic price. Jesus words fail me for what these bas***** will try to get away with.
I fail to see the conspiracy - the EA/Developer have no relation to the mgmt company in this case afaik, other than possible commercial relationships elsewhere.
The signs were placed at the gate, on common ground rather than private property. As an occupant, you pay your mgmt co. to keep those areas tidy. The buyers signed up to the ‘house rules’ when they bought which precluded them from placing a for-sale sign.
I mean, in the spirit of this, the mgmt company have written to tenants reminding them of their obligations to not put clothes-horses out on balconies, so in fairness, it’s just them doing their job!
conor-mc wrote
I fail to see the conspiracy - the EA/Developer have no relation to the mgmt company in this case afaik, other than possible commercial relationships elsewhere.
The signs were placed at the gate, on common ground rather than private property. As an occupant, you pay your mgmt co. to keep those areas tidy. The buyers signed up to the ‘house rules’ when they bought which precluded them from placing a for-sale sign.
I mean, in the spirit of this, the mgmt company have written to tenants reminding them of their obligations to not put clothes-horses out on balconies, so in fairness, it’s just them doing their job!
That does not make it morally correct or at all ethical by companies (in the case of the management company) who are answerable to the tenant.
Who are also supposed to act on behalf or at least in the best interests of the tenant.
You may probably find as is so common the practice that the developer and the management company may have close ties or actually be one and the same. That being the case it is in the best interests of the developer to prevent forsale signs going up with people selling their property in his developement cheaper than he is prepared to sell. He/they are therefore potentially trying to manipulate the price hence the conspiracy you cannot see conor-mc.
Sorry spqr64 - I’ve a healthy dose of scepticism like everyone else here, but frankly all the other tenants/owners are entitled to, and pay dearly for the mgmt company to ensure that a certain standard of cleanliness is maintained. The management company is answerable to all tenants, not just those selling their property.
These restrictions cover clothes-horses on view, satellite dishes, parking etc, and would’ve been agreed to at the initial signing of contracts, which would’ve been well before any slowdown for many of the original buyers.
You may well say that the EA/Developer has some advantage in this, but I say it’s inadvertant and secondary to the job the mgmt co is supposed to do i.e. maintain the public spaces. Indeed, since they’ve changed the prices on the EA website to POA while every other seller advertises their asking price online, they’ve actually pissed away the alleged advantage to maintain artificially high prices.