Vermont, Coast Road, Malahide (-2050k, -58.6%)

Was 3.5m, 3.0m
irishpropertywatch.com/viewS … &Site=daft

Now 2.75m
myhome.ie/residential/brochu … lin/391315

Now €1.8m

myhome.ie/residential/brochure/vermont-coast-road-malahide-co-dublin/391315

You’ve got to be kidding. 1.8m is still 1.4m too much for this godawful monument to CT vulgarity (Malahide style). Concrete postage stamp backyard with wheelie bins sitting prominently to the side. This castle (or whatever it is) sits sandwiched between other incongruous monuments and 50s era pebble dashed cottages on what is a patchwork mess of a road. This ain’t shifing for a looooong time.

Someones is going to lose a lot of money…

independent.ie/unsorted/property/gavels-back-in-action-as-auction-scene-heats-up-48784.html

…and I suspect it may ultimately be the taxpayer. I wonder which bank lent the 1.5M + 600k(?) for this deal. And if its in NAMA yet.

As 2 Windsor Terrace, a genuine big Georgian(ish) house, up the roads is currently for 1.9M (which they wont get) Vermont is worth maybe 800K. Assuming they can find someone who wants to live in a shoddy parachute McMansion with no garden on a busy road.

1.45m
daft.ie/searchsale.daft?id=561473

Fully agree - real Celtic tiger idea this one, vulgar yellow castle on a busy road with an obnoxious asking price. Awful design, minimal back garden, ludicrously priced.

Now up for rent, at EUR2,950/month. daft.ie/searchrental.daft?id=1262604

At that rent (and even if a landlord is charitable enough to take just 4% gross yield) it values the property at €880k. At 5% gross, value drops to €700k.