Thinking of buying an apartment in Dublin

nosh1tsherlock

I am considering buying a 2 bed apartment in dublin ,first I have to ask is if you think its a good or bad idea . Im a single guy no dependents no debts. Would 200k get me anything close enough to the city centre?

subpar

In short , 200 k wont be near enough.

catrionanic

Have you had a look? 200k may get you something in a commuter town, but not a 2 bed in Dublin.

Samuel T. Cogley

You've fairly limited choices alright.

https://www.daft.ie/dublin-city/property-for-sale/dublin-7,dublin-8/?ad_type=sale&advanced=1&s%5Bmxp%5D=200000&s%5Bmnb%5D=2&s%5Bmxb%5D=2&s%5Badvanced%5D=1&searchSource=sale

coffeepls

Beware of the BER rating. I know someone who bought a one bed apt in Dublin 6W for near 200K and the BER rating was F, which means they will need to seriously spend money on insulation or freeze. Location location.

cgcsb

Wait until 2021, housing supply will have increased, the UK will have left the Customs Union, bringing about an economic cooling of some sort. In the mean time increase the amount you put into your savings and then buy something you really like. By that time you'll well afford something decent.

Samuel T. Cogley

cgcsb wrote: »

Wait until 2021, housing supply will have increased, the UK will have left the Customs Union, bringing about an economic cooling of some sort. In the mean time increase the amount you put into your savings and then buy something you really like. By that time you'll well afford something decent.

Or we could have had continual 10%+ pa price rises in his segment. I'm not saying now is a good time to buy, but no one has a crystal ball.

cgcsb

Samuel T. Cogley wrote: »

Or we could have had continual 10%+ pa price rises in his segment. I'm not saying now is a good time to buy, but no one has a crystal ball.

I think it's pretty clear present prices aren't sustainable and we are at the higher end of a cycle. 3 years from now there'll be large schemes under construction, Poolbeg West, O'Deavany Gardens and Clonburris for example. The explosion in student accommodation is likely to take pressure off the lower end of the market also. A change of government will also likely change government policy in favour of social housing, it'll be an election issue.

Samuel T. Cogley

cgcsb wrote: »

I think it's pretty clear present prices aren't sustainable and we are at the higher end of a cycle. 3 years from now there'll be large schemes under construction, Poolbeg West, O'Deavany Gardens and Clonburris for example. The explosion in student accommodation is likely to take pressure off the lower end of the market also. A change of government will also likely change government policy in favour of social housing, it'll be an election issue.

Yeah I know you think that, that's why your post needed some balance. :pac:

Apartment prices lagged behind houses and are still pretty bouyant. Although these schemes will be being built they won't be there yet, even by 2021.

Granted it's all moot as the OP can't get what he needs in Dublin and I for one and not advising him to go out to the wilds of Kildare/Louth/Meath.

cgcsb

Samuel T. Cogley wrote: »

Apartment prices lagged behind houses and are still pretty bouyant.

I think this is one thing that'll change permanently in the near future. The assumption that the Irish family prefers a miserable commute from Kildare rather than a slightly smaller centrally located living space is going to be smashed. It was a lie anyway, the reality is developers with questionable finances prefer being able to sell houses in small batches to finance the finishing of schemes, not possible in apartment blocks. I think Poolbeg will be cruicial in proving this, given the scheme is 100% apartments.

ELM327

200k would be more likely to buy you a parking space in front of an apartment in Dublin, than the actual apartment!

the_syco

coffeepls wrote: »

Beware of the BER rating. I know someone who bought a one bed apt in Dublin 6W for near 200K and the BER rating was F, which means they will need to seriously spend money on insulation or freeze. Location location.

To add to this; look at what you can actually change. In a house, F may not be too bad, as you can add insulation to the walls and roof. In an apartment, maybe to the walls, but not to the roof or floor.

=-=

This joke of a property; https://www.daft.ie/11905486 for €185k - looks like someone built a house in spare land that they had.

https://www.daft.ie/11910914 for €199k would be better. Looking at it from an aerial view, I'm seeing velux windows in some of the neighbouring houses, so maybe a possibility of adding an extra room.

For 200k, I'd advise getting a small one bed house, rather than a small one bed apartment, tbh. At least with a house you get an attic that you can store a good bit of stuff in, and more chance of a parking spot.