Tramyard Inchicore 2 beds down 40 percent since peak

2 bed with parking for 230K
myhome.ie/residential/search/brochure/25-the-tramyard-inchicore-dublin-co&-city/LOSYI370337

My brother sold his 2 bed in Dec 2004 without parking for 275K I think . He sold it for the old FTB limit which was just increased in the budget in DEC 2004.

My mother used to track the prices of these afterwards and at the peak in 2006 a 2 bed with parking was going for 368K plus stamp duty of 3 percent so 380K for the lucky FTB who bought it. so they are down about 40 percent now from the peak excluding inflation.

I am in the view that this is where the market in general in now , minus 40 percent from the peak.

Peak sales prices less 40% to current asking prices would mirror my experience those actually looking to sell. I keep an eye on the 3-bed semi-d in reasonable Northside suburbs market.

In the above instance, assuming you could negotiate 25% off the ask, put your 10% deposit down and obtain one of those wonderful 3.2% low rate mortgages over 25 years you’d be looking at capital repayments of a mere €750 per month.

Not half bad but there’s a lot of assuming in there …

It’s not half bad, it’s downright terrible. The fact that it is relatively low compared to the madness does not make it good value. €750 a month for Inchicore? I’ll give you €300 in repayments (inlcuding interest) per month and I expect it to be paid off in 20 years - but who the fuck would want to give up their FTB privileges for a shoebox in Inchicore anyway??

That means you need a €46k deposit and that’s if the bank agrees it’s worth 230k. A long way further to fall. I’d be reluctant to pay half that.

This 3 bed (29 The Tramyard) has dropped from 250k in 2010
collapso.net/History/537687.html
to 160k
daft.ie/searchsale.daft?id=537687

What a complete dump. No doubt some slumlords wet dream.

Eh? Settle down, it doesn’t sound that bad. In fact it’s a strong 8% yield if the reported rental income is to believed (and it sounds reasonable). I have never said this before but… I think it’s… good value. Phew, that was hard! :open_mouth:

I don’t particulary care about the value from a landlords point of view more for the unfortunate tenants that are going to live there.

A 65sqm 3 bed? They’d have more room in prison and not be paying €1100 per month for the privilige.

Nice and close to here.

2 bed now €137500
myhome.ie/residential/brochu … -8/1577726

i have a friend who purchased a 2 bed in this complex for 305000 in december 2005…

madness