Dublin Docklands Affordable Housing

Lachako

Just wondering if anybody has been offered an apartment in the Docklands by the DDDA under the affordable housing scheme?

If so, what has been your experience of dealing with them?

johnnyskeleton

Just so you know, 2 bed apartments in castleforbes square are selling for €250k, which is probably less than the affordable housing price in the other developments.

http://www.daft.ie/searchsale.daft?id=352041

Lachako

I've been offered a one bed on Sir John Rogersons Quay for €210k and am just jumping through the hoops at the minute before I view it and make any sort of decision (depending on what the very limited choice of financial institutions that are involved with DDDA, will provisionally offer me for a mortgage).

Has anybody else had any dealings with DDDA or have any experience of, or views about apartments around the Grand Canal area of the Docklands?

Anybody have an idea what would the current open market value of a one bed apartment in this area would be?

gurramok

Have you checked the management fees?

I've heard they are 2 grand a year for a 2bed.

The likes of Hanover Quay and Gasworks still ask €300k-€400k for a 1bed depending which floor you are on.
(Readers, please do not cough up your morning tea/coffee all over your monitor/keyboards when reading that price )

Lachako

Not checked yet but it's high on the agenda when I meet with DDDA in the next few days.

I'm expecting the management fee to be anywhere between €1500 and €2000.

gurramok

Just make sure your job is rock solid as the prospect of a €2k bill each yr is not appealing for an affordable apt in an economy in crisis.

Lachako

Job appears to be rock solid, but the prospect of paying a management fee is not appealing at all, in fact it's a complete con.

Have to wait and see now what the apartment is like, because the way prices are going there doesn't seem like there'll be a huge difference in affordable and open market apartments in the next year (this seems to be true currently in other affordable developments such as Belmayne, Clongriffin etc. although maybe the Docklands would be a more sought after area so the apartment would hold it's value better?)

Any opinions welcome.

gurramok

I can tell you its very nice down there on Sir John Rogersons Quay and surrounding area. Some parts are still developing but not as much building work as the northside quays. Quality of life should be good, a few yuppy types have moved into the area though

What i really like down there about the quality of life is the prospect of having walks down there with the river, bridges, trees lit up with those blue lights when you just want to unwind. A plus is the ships of Irish and foreign navys docking along there, great sight to see.
Plus you have the public transport, walk home from town with plenty of shops, pubs and r'nts nearby though some maybe pricy but manageable.

Still, it boils down, is it really worth it for a 1bed and can you see yourself living there(assuming single) for a good few years?
Also, is it of sufficient size? I mean, is it a shoebox or a real spacious apt for future expansion in your needs?

I wouldn't go to Clongriffin due to those dodgy foundations alone.

hitman76

Lachako wrote: »

Just wondering if anybody has been offered an apartment in the Docklands by the DDDA under the affordable housing scheme?

If so, what has been your experience of dealing with them?

yep I was offered a 3 bed apartment in long boat and looking forward to seeing it to the only thing is I'm looking at the Irish times and seeing council is to cut affordable house prices by 25%

Show_me_Safety

the 3 bed in longboat quay are all on the ground floor and most seem to be AF which is grand cos there seems to be a few families there and theres a playground too.

the management fees are nearly 2700 afaik.

simlilar 3 beds in the complex can be found on daft: www.daft.ie/2661224

hitman76

Lachako wrote: »

Just wondering if anybody has been offered an apartment in the Docklands by the DDDA under the affordable housing scheme?

If so, what has been your experience of dealing with them?

Yep, me and the wife have had an offer and will be going down for a look some time this week:), all good so far I think!! just one thing Dublin city Council are to cut house prices by 25% according to the Irish Times so I thing ill be looking at the News more so

Show_me_Safety

hitman76 wrote: »

Yep, me and the wife have had an offer and will be going down for a look some time this week:), all good so far I think!! just one thing Dublin city Council are to cut house prices by 25% according to the Irish Times so I thing ill be looking at the News more so

how much are you getting it for?
there are still some 3 beds for sale at 525 and 2 bed riverview ones at 650!!!:eek:

Lachako

Spoke to Dublin Docklands today and they won't be offering any discount at all on the affordable price.

They are seperate to DCC and although DCC are coming up with 25% off, rent to buy and several other schemes, they (DCC) are yet to commit to any of them.

DCC only want rid of the stock that they are stuck with (huge interest repayments) and DDDA don't seem to be stuck with any of their stock as the south docklands area seems to be percieved as the most desirable locality included in the affordable scheme. This still doesn't warrant the open market valuation of the apartments, which is still very high and has only one way to go.

irishguy

hitman76 wrote: »

yep I was offered a 3 bed apartment in long boat and looking forward to seeing it to the only thing is I'm looking at the Irish times and seeing council is to cut affordable house prices by 25%

How much are they asking for it? Also where do you get a list of the developments/prices that are on offer?

irishguy

I answered my own question

http://www.ddda.ie/index.jsp?p=219&n=229

I take it that its too late to apply for this scheme now?

hitman76

Show_me_Safety wrote: »

how much are you getting it for?
there are still some 3 beds for sale at 525 and 2 bed riverview ones at 650!!!:eek:

245 would be the price I was offed

hitman76

irishguy wrote: »

I answered my own question

http://www.ddda.ie/index.jsp?p=219&n=229

I take it that its too late to apply for this scheme now?

So what do you and everyone here think about the Docklands Affordable Housing? is it a deal, or should I wait and see what happens with house prices because if Dublin City Council drop all their prices by 25% and with Tax on second homes coming up maybe next week you never know, WOW the price will be right.

hitman76

Lachako wrote: »

Not checked yet but it's high on the agenda when I meet with DDDA in the next few days.

I'm expecting the management fee to be anywhere between €1500 and €2000.[/QUOT]
fees down in Longboat on all the 3 bed units carry a management fee of €2,390 per Annam of so I hear.:eek:

hitman76

Lachako wrote: »

Not checked yet but it's high on the agenda when I meet with DDDA in the next few days.

I'm expecting the management fee to be anywhere between €1500 and €2000.

fees down in Longboat on all the 3 bed units carry a management fee of €2,390 per Annam of so I hear.:eek:

irishguy

I think its good value, just live around the corner and the area is very nice. So close to everything and no commuting. I would go for a three bed, but not on the ground floor if possible. Also the amanagement fee is very expensive

hitman76

irishguy wrote: »

I think its good value, just live around the corner and the area is very nice. So close to everything and no commuting. I would go for a three bed, but not on the ground floor if possible. Also the amanagement fee is very expensive

Well as long as we have space. One of the 3 bed apartments I seen was very small, the apartments on the ground are nice and big with two floors and I think its good value, and as you said no commuting, in fact ground floor is not bad at all

gurramok

hitman76 wrote: »

fees down in Longboat on all the 3 bed units carry a management fee of €2,390 per Annam of so I hear.:eek:

It's gone up to €2,800 per annum, very affordable:rolleyes:
http://www.herald.ie/national-news/city-news/management-fees-on-empty-homes-costs-euro100k-a-year-1659405.html
http://www.herald.ie/national-news/city-news/affordable-new-homes-that-cost--euro2800-to-maintain-1658490.html

irishguy

Christ I am glad a didnt buy a place there then

hitman76

gurramok wrote: »

It's gone up to €2,800 per annum, very affordable:rolleyes:
http://www.herald.ie/national-news/city-news/management-fees-on-empty-homes-costs-euro100k-a-year-1659405.html
http://www.herald.ie/national-news/city-news/affordable-new-homes-that-cost--euro2800-to-maintain-1658490.html

Well the price I was given was first about 2,300 Euro, then the management fee went up by just over 200 Euro which had it 2,600 per year before I put pen to paper, so no thanks....:eek:

hitman76

hitman76 wrote: »

Well the price I was given was first about 2,300 Euro, then the management fee went up by just over 200 Euro which had it 2,600 per year before I put pen to paper, so no thanks....:eek:

you know I was thinking about the management fee over 20 years never mind 33 years repaying the bank back and you know what :eek:again (its just nuts) think about it fees that only go up, on like my pay.

hitman76

irishguy wrote: »

Christ I am glad a didnt buy a place there then

to true.

gurramok

They are now offering some at open market value due to the housing market crash. http://www.ddda.ie/index.jsp?p=219&n=229

Have a laugh at the management fees though, at least that part is transparent from DDDA.

Longboat Quay - Currently (2009) ranging from €1500 - €2750 anually depending on the size of the unit.
Butlers Court - Currently (2009) ranging from €1850 - €2400 anually depending on the size of the unit.
Hanover Quay - urrently (2009) ranging from €1700 - €2200 anually depending on the size of the unit.
Forbes Quay - Currently (2009) ranging from €1500 - €1800 anually depending on the size of the unit.

Mugatu

gurramok wrote: »

They are now offering some at open market value due to the housing market crash. http://www.ddda.ie/index.jsp?p=219&n=229

Have a laugh at the management fees though, at least that part is transparent from DDDA.

Longboat Quay - Currently (2009) ranging from €1500 - €2750 anually depending on the size of the unit.
Butlers Court - Currently (2009) ranging from €1850 - €2400 anually depending on the size of the unit.
Hanover Quay - urrently (2009) ranging from €1700 - €2200 anually depending on the size of the unit.
Forbes Quay - Currently (2009) ranging from €1500 - €1800 anually depending on the size of the unit.

Ok, now without knowing the area or the build quality of the apartments, does anyone else not think that 245 for a 3 bed apartment in Dublin 2 is good value. I spend a lot of time in Brussels and there is no way you would get an apartment for that price there.

Back of a envolope calculation means that at current rates the monthly repayment is about 600€.

The management fees are a bit shocking in fairness.

gurramok

Its a nice redeveloped area alright. However, they are supposed to be affordable yet 245k plus those mgt fees are not affordable unless its targeted at those earning 50k+ a year who are by no means poor and in need of housing.

MJPK

"Some of these units will be sold without any of the ownership restrictions usually associated with The Dockland's Authority affordable housing scheme. " http://www.ddda.ie/index.jsp?p=219&n=229

Does this mean they are being sold at the prices listed on the DDDA website with no clawback or any other restirictions ie. future purchasing of property or future planning permission applications.

jdivision

Mugatu wrote: »

Ok, now without knowing the area or the build quality of the apartments, does anyone else not think that 245 for a 3 bed apartment in Dublin 2 is good value. I spend a lot of time in Brussels and there is no way you would get an apartment for that price there.

Back of a envolope calculation means that at current rates the monthly repayment is about 600€.
.

??? I've a 25-year mortgage for E142,500 and it's more than E600 a month even after interest rate relief so don't know how a mortgage for E100k more for that could come in at that price

gurramok

Its at current historically low interest rates. A bit of a teaser

Mugatu

jdivision wrote: »

??? I've a 25-year mortgage for E142,500 and it's more than E600 a month even after interest rate relief so don't know how a mortgage for E100k more for that could come in at that price

1 year fixed (teaser rate) over 35 years. Plus a deposit of about 10%.

http://www.mortgages.ie/

dolby

When is the open day for Longboat Quay? does anybody know how good is the build?

ford fiesta

I got offered one of these today(also was offered a few earlier this year in Clongriffin, but refused)

Which of the developments have parking included in the price of the apt?

MJPK

Today is the last day to register your interest in a property on the website. ahome4u.ie, I take it the draw will take place then over the next week. I have registered an interest in properties in the docklands area, however, I am concerned as to the lack of parking with most apartments. Can anyone already living in the area tell me if it's possible to rent car parking spaces in close proximity to these developments?

MJPK

As far as I know Longboat Quay is the only development which has parking with some of the apartments.
Also, can anyone tell me if the developments in question ie.

• Longboat Quay *
• Butler's Court *
• Hanover Quay
• Forbes Quay *
• The Waterfront

are lying empty or have many apartments been sold on the open market from them.
Also, is there still the underlying possibilty that having purchased an apartment in one of the above that the council then decide to allocate a chunk of them for social housing? Does anyone have any information on this point?

DJDC

Ah so reality is finally settling in some sense with Dublin no longer being compared to NYC, London and Tokyo. It has now been relegated to the level league of those small provincial backwaters Brussels and Paris

Eurzone rates might not increase for while yet. With economies like Ireland and Spain dragging it through the mud, I have a feeling any upside will be slower than UK and US. Of course, by that stage Ireland will have 15% unemployment.

MJPK

Okay..

abhishek

Hi,

Is there anyone who was offered a property in these developments & got approved & everything & is actually living there now!? I have read in some places a lot of those 92 people who got approved last year were waiting over nearly a year before they could move into the property! Any help!?!?

Niallster

does anyone know more about the monthly fees on these apartments.ive heard that they can go up every year and if someone moves out of the complex, the people living there have to pay more to make up for it.Could this end up like a double mortgage?
Also is the grand canal dock going to be finished properly considering the current economic climate?or will it end up a half finished after thought !