WIW - Lisnalurg, Sligo - town house

how far is this house overpriced?

Sligo close to town.



Over priced by loads. That’s my guess. For that kind of money you don’t have to live in Sligo.

IMO it’s a €100-150k house if you have housing needs in the area.
Because it is clearly priced so far above realistic valuation, I would think that you would be wasting your time trying to negotiate.

My comprerhension of this situation is that it’s more of the current value between 200K to 250K.
close to town but out of town
double garage
Large Enough to allow plenty of storage space

Why would anyone buy a house at that price that needs a hundred grand minimum put into it when they could build a dream home in same location now for 300000. What are estate agents thinking? It’s madness.

Very true. I was going to say €250k or so, but then again - if I had that money I’d build the house I dreamed of.

Decent location; quiet setting yet close to town. There are very few properties selling especially in this bracket so it is hard to find anything to measure it against. Looks horribly overpriced though, I’d say something south of 300 and it might have a chance of shifting.

a long way south of 300 considering it seems to need a hell of a lot of work to get it up to standard. Can someone explain to me why estate agents are over pricing these kind og houses to this extent. That house and many others in Sligo will never sell at these prices but estate agents continue the pretence. Do they seriously think they are going to sucker people into buying or what?

Correct. Average annual salary in Sligo / industrial wage in Ireland is thirty something thousand, and 3 or 4 times average salary is plenty for a house like that in a normal country in notmal economic times. Given the times we are in / the IMF here, euro uncertainty etc it would be a foolosh person in my opinion who would buy a house at the moment. Reason: Interest rates can only go one way (rise ! ), property taxes will increase, continued emigration, future austerity, probable end of croke park agreement in a year or 2, possible break up of euro etc only mean property prices still have a good way to drop yet.

People ( sellers ) think houses here are still worth 10 to 15 times peoples salaries when in other countries houses cost much less.
You can build a fine house for 200 k in such areas of Ireland. Many tradespeople are now hungry for work.