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Correction due on Dublin City Centre Apartments?

  • 09-06-2013 8:50pm
    #1
    LowKeyReturn
    Closed Accounts Posts: 934 ✭✭✭


    Pretty much as title. I'm seeing apartments on daft at 250K for 1 bed and some 400K for 3 beds in Spencer Dock. Surely, bar the odd penthouse bachelor bonk pad, apartments in the CC shouldn't be going for more than houses in the desirable 'burbs?


Comments

  • #2
    djimi
    Registered Users, Registered Users 2 Posts: 13,237 ✭✭✭✭djimi


    There was one set of apartments around there that were going for nonsense money; not sure if it was those ones.


  • #3
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Modern apartments in the city centre will always have a demand associated with them. Young professionals are obviously the target market. Houses in the burbs are considered to be to remit of young families. Its a different target market to be honest.

    Is there a correction due? Is there demand at the current prices? If there is sufficient demand to satisfy the limited supply- then, no- there is correction due.

    As for apartments in the city centre and the burbs- they have borne the brunt of property price falls- many are over 70% down on peak prices. It wasn't necessarily just the bachelor bonk pads that went for north of a mil........


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