Airpark Apartments thinking of buying

opentarget

just wondering if anyone out there has any information on the airpark 2 bed apartments(stocking lane rathfarnham). i have been offered a price with the affordable housing scheme.
i would like to know the price one of these properties goes for if bought independently.
also anyone living there have problems withe neighbours or management not fulfilling there obligations(i lived somewhere that the management let the place go to hell!)

any help would be great.

The_Conductor

Back in 2006- the 2 bed terraces went for 520 and the 4 bed semis started at 485. DNG were the original agents for the development.

Current asking prices are:

EUR635k for a 4 bed house
EUR340k for a 2 bed terrace
EUR435k for a 3 bed semi
EUR330k for a 2 bed apartment
EUR450k for a 2 bed penthouse nextdoor in Rookewood

Prices are in freefall- you can see reductions of between 65k and 140k in the Myhome.ie adds alone.....

This website has been setup for residents- it might be a good port of call.

What sort of property are you being offered- and at what price?

SMcCarrick

Freddie59

opentarget wrote: »

just wondering if anyone out there has any information on the airpark 2 bed apartments(stocking lane rathfarnham). i have been offered a price with the affordable housing scheme.
i would like to know the price one of these properties goes for if bought independently.
also anyone living there have problems withe neighbours or management not fulfilling there obligations(i lived somewhere that the management let the place go to hell!)

any help would be great.

Only advice I'd give is to wait. There's more drops to come. Check these sites:

www.thepropertypin.com

www.treesdontgrowtothesky.com

www.irishpropertywatch.com

www.irishhometruths.com

opentarget

hi thatnks for that. i've been offered two bed apartment for 215-245k. i've been looking up the asking prices on myhome.ie but was wondering how much ppl have actually been paying for them. wondering if i might be better off buying somewhere privately rather than through affordable housing as if i refuse this apartment i have to go back to the end of the list and wait another 12-18 months!

i do like the location tho!

The_Conductor

opentarget wrote: »

hi thatnks for that. i've been offered two bed apartment for 215-245k. i've been looking up the asking prices on myhome.ie but was wondering how much ppl have actually been paying for them. wondering if i might be better off buying somewhere privately rather than through affordable housing as if i refuse this apartment i have to go back to the end of the list and wait another 12-18 months!

i do like the location tho!

There are none on the open market at present (the developer is not allowing private sales until all his units are sold). Until such time as there are units on the open market- its not possible to determine where the market sees the current monetary value of these units to be.

Personally- I'd suggest buying a little house in Rathfarnham- no annual management charges or restrictions imposed on you by the management company- and sweet damn all difference in price........

S.

Eglinton

smccarrick wrote: »

the developer is not allowing private sales until all his units are sold

Didn't know they could do that. Very cheeky on the part of the developer. Is it normally built into contracts?

AARRRGH

215k is a good price for a two bedroom apartment in Rathfarnham in today's market.

Will it be a good price in five or ten years? Probably not.

Personally I would hang on renting for a while and see what happens. House prices appear to be recovering, and by recovering I mean returning to prices pre-celtic tiger.

When you think about what this country has to look forward to, all you will see is utter bleakness. I would not like to be trapped in a 25 year mortgage with an apartment I can't sell.

When the multi-nationals leave - and they will leave - what will Ireland be left with? I can tell you: we'll be left with something similar to the 1980's.

So think long and hard before you commit your future to a life in Ireland.

The_Conductor

Eglinton wrote: »

Didn't know they could do that. Very cheeky on the part of the developer. Is it normally built into contracts?

Its not unusual.
I'd like to see it being tested in court by someone- particularly in the current climate......

Eglinton

smccarrick wrote: »

Its not unusual.
I'd like to see it being tested in court by someone- particularly in the current climate......

Definitely. Highly unlikely it would stand up. I can't imagine a car dealer telling me I can't sell my car 6 months later because he hasn't sold his entire stock of 2009.

If the developer is worried that this might show his apartments as being vastly over-valued in the first place, it's probably the case. But it doesn't mean he can force owners to hold on to places just because of his greed.

Sarn

smccarrick wrote: »

the developer is not allowing private sales until all his units are sold

I really can't see this as being enforceable as I would imagine it goes against your statutory rights. If someone gets into financial difficulty and are forced to sell (if they can shift it) I can't see the courts siding with the developer. What if it takes the developer years to sell them?

The_Conductor

Sarn wrote: »

I really can't see this as being enforceable as I would imagine it goes against your statutory rights. If someone gets into financial difficulty and are forced to sell (if they can shift it) I can't see the courts siding with the developer. What if it takes the developer years to sell them?

I agree with you.
Its a very common purchase clause in developments though.
It really does need to be legally tested (and put to waste.....)

S.

Vel

I recently sold my apartment in this area (not Airpark) and I have to say I'm relieved to be out of there. I grew to hate living in that area and in an apartment (don't do it!!). Its so souless up around there with poor transport links and poor local amenities and tonnes of houses and apartments. There has been trouble in the area before from a nearby halting site and I believe they have just finished building another one on Stocking Lane near Airpark. I know there are people who like this area and it suits them but there is no way I would recommend to anyone to live there from my own experience.