Just posted about this in the Flippin’ Heck forum, sold at the end of November for €131,000 now up for €225,000
I think some of this might be the Felicity Fox premium…but what do you think it’s worth and what it will go for?
Close to the asking is my bet. It is small but in turn key and a decent area, unusual with side access for these type of cottages which is good, no bikes or bins to be dragged through the house. Pity the original fire breast has been removed as could have been a feature, but I guess in a house this size the extra space is noticed.
I was thinking around the €185,000-€190,000 mark, that side access makes a huge difference, but €225,000 seems a bit too steep IMO.
Went to viewing today - it was packed, 40 people easily -
- the cottage seems to be refurbed to a good spec, used the space well, tho it is very small
With the amount of people there I’d say it will reach the asking
I hate pvc windows…it’s a real pity that they did not put in wooden ones.
I went to the viewing too, really small space but they have utilised it well, the living area is nice and bright. Still, a little too small for me. I have been to view a couple of other houses in this enclave recently and they all seem to have gone over the asking.
The bidding for this place has gone over €245k
Crazy price for a 40m2 cottage
€568 per sq ft for this?!? Oh my word. That is fcukin nuts.
Sounds like the viewing must have been like one of those sliding letter puzzles of my childhood.
alibaba.com/product-gs/514643244/Letter_Sliding_Puzzle_SM039070.html
In one sense yes, but in another, no.
I bought in '99 and it was frantic then: the sense was that if you didn’t get on the ladder you’d never be able to. The house I bought cost double what the house two doors up had cost that owner two years before (same spec). That house had cost him double what the girl across the road bought her house for two years prior to him.
So: evidence of serious bubble going back to at least 1995.
The crash came in 2007. Which means the Irish were exposed to at least 12 years of the same message about property. It amounts to brainwashing. The structure of the brain is such that neural pathways get set up over time as a result of repeated exposure which produces responses that have nothing at all to do with rational thinking. Addictions are an example of this.
Post-crash folk are exposed to wall to wall coverage about house prices - which gives those property addicted neural pathways the same kick as a big loss does a gambler. Whilst neural pathways can dissolve if left unutilised, these particular ones never have had a chance to
Now the brain is focused on “bottom + pent up demand”. It’s no more concerned with rational issues (such as the state of the economy) than it was during the boom.
Those dormant, “if I don’t buy now I’ll miss a boat” synapses are just waking back up and doing what they can be expected to do.
Posted this earlier but worth a look in the context of york’s post.Pg 3, chart 2.
Thar she blows…
Know a bloke who lost it all in the recent crash whilst in the apartment building game.
In the late 80’s he finally relented to the herd and headed to London to find his fortune along with all the other Paddies flying out and back for the weeks work. He had a meet with a contact about investing in property, turned up at contacts offices, walking past a queue of people all waiting to see his contact. The contact was some financial type helping the queue close their property deals before some or other tax deadline elapsed.
The contact stuck up a “back in 5 minutes” sign, took this lad around to the pub for a pint and told him to go home, that it was all over. “it’s gone mad” he said. “These clowns are queuing round the block overnight to buy stuff off plans”. He said “the whole thing is going to blow - and soon”.
Black Monday and the associated property crash followed soon after.
This lad saw our own crash coming precisely because he’d seen it all before: the same warning signs, the same madness, the day-by-day price rises, the same queuing up overnight to buy shoeboxes down at Spencer Dock.
And he still couldn’t get himself out in time - such was the power of the brainwashing.
Are you serious???
€245,000?? Definitely did not see that coming, the place is fairly tiny!
€114k gross profit to date.
Looks like the Irish taxpayer might collect €30k+ in CGT.
Yipee 
but how much will the bailout cost in a few years time to the irish taxpayer 
Apart from the deductibles.
A friend of mine bought a one bed there in about 97 for £150k. Sold in 2000 for 225k.
Genworthless more like…