Wintergarden, Pearse St, D2, Dublin 2

daft.ie/searchsale.daft?id=628613

I’m pretty sure that this time last year there was one of these on daft for 175K euro.They have certainly come down a lot.

Evilal will be happy to see that.

Here’s a 1 bed to let in the same development for €900pm.
daft.ie/searchrental.daft?id=1144063

Even assuming a conservative €750pm rent, this equates to a gross yield of 11.25%.
(at €900pm this is a gross yield of 13.5%).

This is value.

what’s a fair rent?

If I was buying for an investor, I would work off €700 - €750 per month to be on the ultra-safe side.
It’s probably €750 to €850 at the moment.

Surely couldnt go much lower than that could it? Whats so bad about Winter Garden

Oddly high ceilings?

Have we seen a more eye-catching post-bubble price for any Dublin property? I don’t think I have.

One thing it says to me is that €900pm rent is bonkers. Which is ironic given that low rents used to tell us prices were too high, whereas this is an example of low price telling us rent is too high. Flip flop. I’d split the difference and say the price looks sane, but the rent/yield too high.

Woo hoo! I’m rich! Oh, wait, actually I’m just not as poor as I could have been :slight_smile:

Nothing hugely wrong with it until you compare with the hundreds of new and almost-new apartments around the Docklands that aren’t renting for that much more. Wintergarden is showing its age compared to them.

Interesting that it comes with parking. A few years ago a parking space on its own would get you 40k in that area.

I wonder would it make sense to buy it, live there a few years till its paid off and then sell for deposit in a family home.hmm, the cycle starts again. Quick everybody, they’ve let down the ladder again!

I wouldn’t borrow 80k to buy a crack den. If I had 80k I wouldn’t buy that. Maybe farmland but you don’t know what the IMF will tax next, Air?

I sold a few in here (not to you evilal :angry: ).
It’s not a crack den.
Nice enough little enclave and Pearse Street isn’t as bad as it was in the past.

A hundred metres up road to grand canal dock . The brother rents in there for mad money.

Any idea on management fees?

I think you could rent it without the parking space for near enough the same price and then rent the space seperately.

independent.ie/national-news … 31263.html

that’s some yield!

More importantly, crime pays !

Used to be 1800ish IIRC. But they do a decent job. Car space prices were kept bouyant by the fact that there’s a large amount of office space at the side (Verizon) and back (currently unoccupied) of the same complex.

Would you not buy back in at 80k evilal?

If I was a bank, I could book an instant paper profit of 55k!

I’m actually surprised by that price. Based on affordability, earnings multiples etc I had these pegged for 100k-110k at the bottom. FYI 80k is roughly what they sold for new in the late 1990s.

I think 80k might be less than what they sold for in late 90s??

The mammy was at me to buy a place in 1997/1998. She spied these and suggested going to see them. IIRC they were 75k Old Punts at the time, so closer to 90k/95k euro?

That was way above my budget, as my salary was 14k (graduate entry level).

That was what the civil service was like pre-benchmarking. :angry: