NAMA land: Half of houses needed in Dublin

suave.4u

Hi Guys,

I am looking for a house/ apt in South county Dublin area. The budget is 180-210K.
Even apartments that are max in the range of 150-160K are now being inflated to 30% higher.
I know no one can speculate what will happen in future, but is it a good idea to perhaps wait for an year or two so and maybe new houses will be constructed. Will anything happen on that end.
Please see this:
http://www.independent.ie/business/irish/half-of-houses-needed-in-dublin-could-be-built-on-nama-land-30407618.html

Regards,

The_Morrigan

Speculation is the mother of all fcuk ups when it comes to Ireland and property unfortunately. I mean if you can afford to buy a property that you like, then I would go for it, property can swing from one extreme to another over the life of a mortgage. If you are buying as an investment you have to be more wary of course, but a family home, should be a long term investment.
I bought in 2008 before the crash, and although there is some negative equity, it has absolutely no bearing on the fact that I could afford to buy at the time and I love the development.

Speaking of which, I know that the they all go on the apts/duplexes they have here in St Edmunds. I've never seen builders work so fast to get a block finished. They also don't seem to be taking their typical builders holidays this year as we just got a letter through the door about new traffic management systems while they do drainage work between the 'new' and 'old' part of the development. So building is taking place.

quadrifoglio verde

The_Morrigan wrote: »

Speculation is the mother of all fcuk ups when it comes to Ireland and property unfortunately. I mean if you can afford to buy a property that you like, then I would go for it, property can swing from one extreme to another over the life of a mortgage. If you are buying as an investment you have to be more wary of course, but a family home, should be a long term investment.
I bought in 2008 before the crash, and although there is some negative equity, it has absolutely no bearing on the fact that I could afford to buy at the time and I love the development.

Speaking of which, I know that the they all go on the apts/duplexes they have here in St Edmunds. I've never seen builders work so fast to get a block finished. They also don't seem to be taking their typical builders holidays this year as we just got a letter through the door about new traffic management systems while they do drainage work between the 'new' and 'old' part of the development. So building is taking place.

That's because he builders of today aren't the same as the builders of 2007. That mainly went out the window with the crash thankfully.

Dredd_J

Unless you are talking about the unpopular areas of South County Dublin, or a house thats falling down, you wont get a house for that money. Ever I would think.

riclad

Most building companys are out of business,
land is owned by nama or the banks.
I can,t see much house building going on in the next 2 years.
I think nama owns 1000s of apartments,
but they don,t want to put them up for sale all at once.
You can buy a house for 15ok , south side
,if you look on council estates ,or working class area,s.
Builders are finding it hard to get finance for large projects from the banks.

Some apartment blocks are still being finished
maybe they,ll be for sale in the next year.
OR look for house ,
old, needs modernisation, just basic repairs, new kitchen,
say 20k repair budget,
in good structural condition.
WE have a small supply of houses for sale in dublin,
so prices are going up,
basic economics ,high demand vs low supply.

L1011

suave.4u wrote: »

Hi Guys,

I am looking for a house/ apt in South county Dublin area. The budget is 180-210K.
Even apartments that are max in the range of 150-160K are now being inflated to 30% higher.
I know no one can speculate what will happen in future, but is it a good idea to perhaps wait for an year or two so and maybe new houses will be constructed. Will anything happen on that end.
Please see this:
http://www.independent.ie/business/irish/half-of-houses-needed-in-dublin-could-be-built-on-nama-land-30407618.html

Regards,

Take a look around the areas you're expecting to get a house for 180-210k for in for actual empty land. If you find any (which I suspect you won't), check the appropriate councils planning systems to find out if there's planning on it and who received it - then find out where their assets ended up.

210k wasn't enough to buy a house in most of the areas people refer to as "South County Dublin" when looking at the absolutely bottom of the market and it isn't going to be even when every scrap of land is built on either.