whats the catch

timetogetfit

2 bedroom apartment for 65k, there has to be a catch?

http://www.daft.ie/searchsale.daft?id=525991

Tigger

the potential neighbours i suppose

mymo

Why?
It looks pretty small, yard overlooked by tall buildings. Its in Waterford.
I'm sure you could find small houses for not much more.

tara73

would vote for a catch as well. neighbours are a good point but could be anything else either.
all speculative, we won't find out until going and visit:).do you live close enough to have a look?

Blackjack

Perhaps the vendor is simply being realistic?.

OMD

A quick look on Daft shows there are 1,364 properties for sale in Waterford City at present. This is in a city with a population of about 50,000.
Just for comparison Dublin City has 5,823 properties for sale with a population of 1,200,000. Remember prices are still falling in Dublin.

I think based on these figures property in Waterford is going to plummet. €65,000 for a 2 bedroomed flat is certainly no bargain and will seem less so in the near future.

silja

Flat is on the small side and as others have said, the market is in the dumps. I find it a bit strange that it is being sold furnished, makes me think owner needs to sell quickly (emmigrating, or original owner died maybe, or bought as investment property and now cannot pay mortgage?), hence priced to sell.

Bowel Cancer

The presumption of their being a 'catch' is just another property bubble hangover. It's a poky dump in a grim port city ravaged by unemployment.

johndaman66

OMD wrote: »

A quick look on Daft shows there are 1,364 properties for sale in Waterford City at present. This is in a city with a population of about 50,000.
Just for comparison Dublin City has 5,823 properties for sale with a population of 1,200,000.

While I agree with your overall sentiment you need to consider also that some (most?) properties areon the books of more than one agent and hence same property listed on Daft more than once. Also an agent may only put one house in as representative of the entire estate if they are selling many houses in same estate. You can see how the figures can easily get skewed and hence I wouldn't read too much into the absolute numbers as per Daft.

OP you seriously wouldn't see yourself living in such an apartment for more than a few years? I think even those with modest demands among us would generally aspire to living in a better property/ proper house than such a pokey little shoebox

groom

How much would this apartment rent for?

A look at 2 bed rentals in Waterford has similar properties asking c. €400pm so if you were to get that you'd be getting a 7.4% gross yield. Not bad. Average Dublin properties are hoping for a c.3% yield

Zamboni

Bowel Cancer wrote: »

The presumption of their being a 'catch' is just another property bubble hangover. It's a poky dump in a grim port city ravaged by unemployment.

+1

LittleBook

groom wrote: »

How much would this apartment rent for?

A look at 2 bed rentals in Waterford has similar properties asking c. €400pm so if you were to get that you'd be getting a 7.4% gross yield. Not bad. Average Dublin properties are hoping for a c.3% yield

http://www.daft.ie/searchrental.daft?id=885781

€115 a week for this exact apartment