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Waterford Investment Property

  • 25-06-2018 11:22am
    #1
    Registered Users Posts: 498 ✭✭ FernandoTorres
    Registered User


    Hi there


    I’m a Dubliner currently living in Australia for the last 6 years. Recently I’ve started thinking about purchasing a property in Ireland to rent out, with a view to maybe moving back in a couple of years. We’ve been lucky enough to save a fair chunk so would be cash buyers.



    I’m avoiding Dublin like the plague and all my research so far points to Waterford City looking like a great opportunity. I’ve been a few times and always love it down there and I think there’s massive opportunity based on the plans I’ve seen.



    We’d be looking to purchase a 2/3 bed property, maybe a townhouse or apartment. Not opposed to something that will need a bit of work if it’s the right fit. Obviously, I’ve had a look on Daft and have seen a few places that tick the boxes but would anyone have any advice on the kind of areas we should be looking? Also, I’d love to hear any insight on what the market is like there at the moment e.g. are places going for much above asking prices in general?

    Thanks in advance


Comments

  • Closed Accounts Posts: 534 ✭✭✭ Stopitwillya


    Hi there


    I’m a Dubliner currently living in Australia for the last 6 years. Recently I’ve started thinking about purchasing a property in Ireland to rent out, with a view to maybe moving back in a couple of years. We’ve been lucky enough to save a fair chunk so would be cash buyers.



    I’m avoiding Dublin like the plague and all my research so far points to Waterford City looking like a great opportunity. I’ve been a few times and always love it down there and I think there’s massive opportunity based on the plans I’ve seen.



    We’d be looking to purchase a 2/3 bed property, maybe a townhouse or apartment. Not opposed to something that will need a bit of work if it’s the right fit. Obviously, I’ve had a look on Daft and have seen a few places that tick the boxes but would anyone have any advice on the kind of areas we should be looking? Also, I’d love to hear any insight on what the market is like there at the moment e.g. are places going for much above asking prices in general?

    Thanks in advance

    Ferrybank is where you should see value rising most over the next few years.


  • Registered Users Posts: 1,583 ✭✭✭ Deiseen
    Registered User


    Foxwood or the new developments happening in Kilbarry which are aiming to be carbon positive.


  • Registered Users Posts: 871 ✭✭✭ Captain Red Beard
    Registered User


    I'd look at houses near the outer ring road chief. There have been many developments along its span and they all have easy access to to the city centre, beaches, shopping centres, the industrial estates etc.


  • Closed Accounts Posts: 40,086 ✭✭✭✭ Harry Palmr


    We’d be looking to purchase a 2/3 bed property, maybe a townhouse or apartment. Not opposed to something that will need a bit of work if it’s the right fit. Obviously, I’ve had a look on Daft and have seen a few places that tick the boxes but would anyone have any advice on the kind of areas we should be looking? Also, I’d love to hear any insight on what the market is like there at the moment e.g. are places going for much above asking prices in general?

    Thanks in advance

    The hot spots are properties near the Waterford University Hospital (Dunmore road/Williamstown road), WIT (Lismore Park/Ballybeg/Templars Hall - but as that is mainly student activity you may want to pass!) and as mentioned Ferrybank as the new Saudi backed retail/entertainment/apartments project takes shape over the next few years.

    https://cif.ie/2017/12/22/strategic-investment-waterfords-north-quays-will-transform-region/


  • Registered Users Posts: 25,736 ✭✭✭✭ looksee
    Moderator


    There is a three bed semi near me going for 155, had students in it by the looks of things, but its in a good area (Tramore) and looks sound enough, would need upgrading. Prices are still steady enough but are just starting to rise.


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  • Registered Users Posts: 2,069 sunnysoutheast
    Registered User


    Whatever about locations etc. you would be wise to do your research on the direction the governing rental legislation in Ireland has gone recently and is likely to go in future. You may also want to have a look at the taxation regime particularly given you're non-resident.

    Have a look at the Accommodation forum on boards would be my suggestion.


  • Closed Accounts Posts: 534 ✭✭✭ Stopitwillya


    Deiseen wrote: »
    Foxwood or the new developments happening in Kilbarry which are aiming to be carbon positive.

    Not a pleasant area. Right beside a halting site and ballybeg.


  • Registered Users Posts: 498 ✭✭ FernandoTorres
    Registered User


    Cheers for all the replies! I've already looked into the tax side of things and it's pretty decent as there's a double tax agreement between Ireland and Australia and I can claim a lot more allowances here than I could in Ireland. I'd be getting an accountant who's familiar with both jurisdictions before pushing the button on anything anyway.


    I've definitely thought about the student side of things but thinking it may be more trouble than it's worth! I think something for a couple or small family would be ideal. I've read about these eco homes in Kilbarry but can't find much about who's actually building them or more detailed plans.


  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    Cheers for all the replies! I've already looked into the tax side of things and it's pretty decent as there's a double tax agreement between Ireland and Australia and I can claim a lot more allowances here than I could in Ireland. I'd be getting an accountant who's familiar with both jurisdictions before pushing the button on anything anyway.


    I've definitely thought about the student side of things but thinking it may be more trouble than it's worth! I think something for a couple or small family would be ideal. I've read about these eco homes in Kilbarry but can't find much about who's actually building them or more detailed plans.

    student accommodation is a rabbit hole, run a mile. best of luck


  • Registered Users Posts: 3,049 ✭✭✭ kuang1
    Registered User


    Cheers for all the replies! I've already looked into the tax side of things and it's pretty decent as there's a double tax agreement between Ireland and Australia and I can claim a lot more allowances here than I could in Ireland. I'd be getting an accountant who's familiar with both jurisdictions before pushing the button on anything anyway.


    I've definitely thought about the student side of things but thinking it may be more trouble than it's worth! I think something for a couple or small family would be ideal. I've read about these eco homes in Kilbarry but can't find much about who's actually building them or more detailed plans.

    If it's Foxwood you're referring to it's Frisby building them.


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