Curious to hear views about this one: seems quite an attractive apartment in some respects with 2 beds+‘study’+balcony +eat-in kitchen in pretty solid area.
Would it make over 300k? No mention of the level of management fees though…
That’d be no more than 150k max for me ted.
(unless Ze Germans allow massive money printing)
Even if it rents for €1200?
It’d def rent at more than this now, and as for it being a “solid area”, I can’t think of any more expensive an area to buy an apartment. I’d happily pay €250k, should make €300k. That’d only be €272 per sq ft
How long will those rents last? Depreciation? Management fees? Tax?
it’s a long long long way down
Looks nice. Might expect something different on viewing the actual apartment though. The kitchen photo looks to be stretched, and given the overhead roof and bamboo “seclusion” on the balcony I’d say living room might be slightly darker in real life (or for the remaining 23 hours 45 mins of the day!)
How odd - never seen a price range like that. Nor have I seen that website for that matter.
I wouldn’t price this below €250,000 because a (long-term) single person on a c.€60,000 salary could afford a mortgage on it. This would be spot-on the demographic for this area and property type. Or, trader-downers, divorcees, widows etc. with some equity from elsewhere.
That price also works for what I would consider a reasonable medium term rent of €1500 pm on a 6% yield.
€250,000 is also €227 per sq. ft. Which is high, but not so insane that you’d be losing your shirt paying it.
IMO.
Ed: Prima facie, this should be one of the more expensive 2-bed apartments in all South Dublin.
I’m guesssing they don’t want to advertise the fact it is for rent to a wide audience. I fell a bit of a plan brewing for myself…
Sold for 320 in December 2011
propertypriceregister.ie/Web … enDocument
Edit: originally started at 399 according to the myhome PPR page
myhome.ie/priceregister/apar … in-4-30345
19th Aug 11 Price change : €399K → €350K
This property indicates a management charge of 3k p.a. for this development