Good areas in Ireland for an investment property

Mad_maxx

Monksland is not in a RPZ because its in the county of Roscommon , even all of the houses or apartments in Monksland were " badly built " or exceptionally well built , it would be irrelevant , Roscommon county is not in a RPZ so by extension ,neither is Monksland , there are loads of very well built houses in it , monksfield bealnamulla is a well built estate with both apartments , duplexes and family homes

its also not " miles from Athlone " , its effectively part of Athlone , it has a regular bus service into Athlone itself , Monksland is almost like a second Athlone at this stage and has plenty of retail and other amenities .

i thought id correct that earlier absurd post

Mad_maxx

ELM327 wrote: »

The best property investment is in REIT shares.

great dividends on both IRES and Hibernia ( hibernia being the commercial property one ) , neither appear to have tracked the on the ground market in anyway shape or form though ?

tiredcity

Wanderer78 wrote: »

these developments are coming on stream in waterford, theres some serious investment involved, i suspect property and land speculation, and demand for so, is increasing significantly, property prices have already risen by 12% in the last year, i expect this to continue, largely due to these investments

https://waterfordnorthquays.ie/

https://waterford-news.ie/2020/07/28/michael-street-reimagined/

Waterford has been on the brink of a revival for ages now after years of gloom and doom when Waterford Crystal shipped out. I lived there for four years and you could really see the potential by the time we left. NQ development should genuinely revitalise Ferrybank and get people coming into the city, there's loads of new development out around the Ring road/Williamstown area, good independent shops (Finders Keepers, Beibhinn, Ardkeen Stores, Nest, Arch coffee etc), Greenway is attracting tourists and an amazing amenity for locals. For QOL (great access to beaches, mountains, city is very walkable) plus affordability it's got a lot to offer. I sincerely hope it does well. The locals can be quite down about the place but as a blow in you really appreciate what it could be.

duffysfarm

what about ballymahon? Would there be some rise in rents in this area due to centre parcs opening up?

drunkmonkey

Nobody seems to have mentioned it but would you consider a holiday home, there's very little left out there, Kilkee for example must only have a 1/3 of the houses for sale it did 18mts ago, still a few left there, the town needs a makeover but the pandemic might help it, you can holiday let it for a few months of the year and private or council rental for the rest of the year, return should be good and maybe a good chance of capital gains with wfh and home holidays.
There's a new development happening in Lahinch as well might be worth getting in on as property pieces are off the wall there due to demand with very strong prices for weekly rentals.

handlemaster

brenno1 wrote: »

Hi all.
After years of saving hard I will be looking to buy an investment property at around the 150k to 170k mark max early next year as a cash buyer; i dont want any mortgage debt on the property. Ideally a 1 or 2 bed apartment/duplex with minimal maintenance. And happy to consider renting to government on long term rental scheme.

This is my first time doing such a venture and i want to see if anyone has any experience in this and generally what part of the country they would consider a relatively safe bet (in terms of protecting the capital, a decent rental return €1,100 to €1,200 pm and bouyant rental market).

Within my price range I see plenty of properties in the following areas that I would like investment opinion on;

Drogheda

Balbriggan-this one seems v topical?v cheap for a reason?

Ballyfermot-i understand has one the best returns in the country?

Clondalkin

Citywest

Finglas

Tallaght

Limerick

Waterford

Maybe there are other areas I am missing that could be relatively decent value that people have knowledge on?

I would say Balbriggan is cheap because of the distance to the city , social issues and Pyrite.



I good area you have not mentioned is Dublin 15

handlemaster

what about small towns and villages around ireland. There are people who love them and never want to move but would also be renters. Prices are cheaper and the rents arent really that bad around 700 euro plus for a three bed house.

JimmyVik

I hate to be the one to say it
But Jesus this is all eerily familiar talk.

ELM327

Mad_maxx wrote: »

great dividends on both IRES and Hibernia ( hibernia being the commercial property one ) , neither appear to have tracked the on the ground market in anyway shape or form though ?

Yes but the issue with property investment (and I've been there. Direct) is that you can lose thousands with one bad tenant. Especialy for a small time 1-2 property landlord that can be devastating and the laws support the tenant to the ground and f00k the LL over.


If you invest in a REIT you invest "in property" with lower risk. That's where my money is going unless I come into millions.

ELM327

JimmyVik wrote: »

I hate to be the one to say it
But Jesus this is all eerily familiar talk.

At least it's in Ireland and not apartments in Bulgaria!

#boomposting

JimmyVik

ELM327 wrote: »

At least it's in Ireland and not apartments in Bulgaria!

#boomposting

Eddie Hobbs will be back on the telly next

Mad_maxx

ELM327 wrote: »

Yes but the issue with property investment (and I've been there. Direct) is that you can lose thousands with one bad tenant. Especialy for a small time 1-2 property landlord that can be devastating and the laws support the tenant to the ground and f00k the LL over.


If you invest in a REIT you invest "in property" with lower risk. That's where my money is going unless I come into millions.

im invested in both IRES and Hibernia , on paper they look a much better investment compared to actual property and they appear better value right now too

however , there are a few things which prevent me from buying more

1. IRES in particular is not at all liquid , trading volume daily is tiny , those kind of securities can often suffer large falls during downturns

2. board of directors can over pay themselves at the expense of share holders

Claw Hammer

Mad_maxx wrote: »

Monksland is not in a RPZ because its in the county of Roscommon , even all of the houses or apartments in Monksland were " badly built " or exceptionally well built , it would be irrelevant , Roscommon county is not in a RPZ so by extension ,neither is Monksland , there are loads of very well built houses in it , monksfield bealnamulla is a well built estate with both apartments , duplexes and family homes

its also not " miles from Athlone " , its effectively part of Athlone , it has a regular bus service into Athlone itself , Monksland is almost like a second Athlone at this stage and has plenty of retail and other amenities .

i thought id correct that earlier absurd post

the fact that it is not an RPZ has nothing to do with the fact that is is in Roscommon. RPZs do not operaste at County level. It is not an RPZ because the rents havn't been rising. There are relatively recently built estates in Mo9nkstown which have had to replace roofs at enormous expense. The tenants are mostly those who wouldn't be accommodated or were evicted from Athlone. The only time anyone walks from Monksland to Athlone is for charity. No way is it part of Athlone.

handlemaster

duffysfarm wrote: »

what about ballymahon? Would there be some rise in rents in this area due to centre parcs opening up?

Thats in Longford

Mad_maxx

you would need to be fairly fcuking lazy to consider monksland to athlone a " charity walk " ?

its less than 3km on foot

Claw Hammer

Mad_maxx wrote: »

you would need to be fairly fcuking lazy to consider monksland to athlone a " charity walk " ?

its less than 3km on foot

Joe Duffy Motors in Monksland to Church St in Athlone is 4.4km. It is an hours walk. It would be a ridiculuos place to buy an investment property.
The only place to buy an investment property is near where you live and if in Dublin, as close to the city centre as possible.

handlemaster

drunkmonkey wrote: »

Nobody seems to have mentioned it but would you consider a holiday home, there's very little left out there, Kilkee for example must only have a 1/3 of the houses for sale it did 18mts ago, still a few left there, the town needs a makeover but the pandemic might help it, you can holiday let it for a few months of the year and private or council rental for the rest of the year, return should be good and maybe a good chance of capital gains with wfh and home holidays.
There's a new development happening in Lahinch as well might be worth getting in on as property pieces are off the wall there due to demand with very strong prices for weekly rentals.

Holiday homes are not a good investment. What you are suggesting is alot of work. Council won't rent for a few months. Another thread on here some one rented there house
For a few months and the tenant refused to move out. What would you do then ?

brenno1

"The only place to buy an investment property is near where you live and if in Dublin, as close to the city centre as possible."

A bit limiting now in fairness!

brenno1

"Another thread on here some one rented there house
For a few months and the tenant refused to move out. What would you do then"

Ah thats when my size comes in handy and my fathers shotgun licence😂😂😂 many ways to skin a cat if tenants don't play ball per contract

drunkmonkey

handlemaster wrote: »

Holiday homes are not a good investment. What you are suggesting is alot of work. Council won't rent for a few months. Another thread on here some one rented there house
For a few months and the tenant refused to move out. What would you do then ?

I was thinking more from a capital appreciation view, we can build inland as much as we want but as the population ages and grows houses in areas you may want to live should keep having strong gains. Once the foreign tourist market returns short term letting prices will be expensive.

Hontou

brenno1 wrote: »

"Another thread on here some one rented there house
For a few months and the tenant refused to move out. What would you do then"

Ah thats when my size comes in handy and my fathers shotgun licence������ many ways to skin a cat if tenants don't play ball per contract

Incorrect. There is only one way....the RTB way and you need to start learning the RTB site off like The Hail Mary if you are even considering renting out your investment property. (But I assume you were joking anyway).

ted1

brenno1 wrote: »

"Another thread on here some one rented there house
For a few months and the tenant refused to move out. What would you do then"

Ah thats when my size comes in handy and my fathers shotgun licence😂😂😂 many ways to skin a cat if tenants don't play ball per contract

Very niave. Once the tenant is there 6 months and timeline on the contract becomes irrelevant as they can claim part 4.

But congratulations on bring fined and arrested.

Wanderer78

brenno1 wrote:

Ah thats when my size comes in handy and my fathers shotgun licence😂😂😂 many ways to skin a cat if tenants don't play ball per contract

Cant imagine a judge viewing intimidation too easily

handlemaster

drunkmonkey wrote: »

I was thinking more from a capital appreciation view, we can build inland as much as we want but as the population ages and grows houses in areas you may want to live should keep having strong gains. Once the foreign tourist market returns short term letting prices will be expensive.

To long to wait for all that maybes. Why haven't you seen retires buying on mass already where you think this will all happen. People retire every year

3DataModem

Good tip: don't invest where people want to live, invest where people have to live.

i.e. near hospitals, colleges, and within walking distance of industrial and retail parks.

brenno1

ted1 wrote: »

Very niave. Once the tenant is there 6 months and timeline on the contract becomes irrelevant as they can claim part 4.

But congratulations on bring fined and arrested.

Not naive. I fully understand tenants are viewed way more favourably in the eyes of the law. I would only be in interested in short terms lettings if I was looking to the private market myself or long term lettings if I was doing the HAP or long term lettting scheme with the government.

And for the record I would be a very fair landlord as I understand the difficulties of finding decent fairly priced accommodation; and my fairness would extend to tenants experiencing temporary difficulty in these awful times.

While my comment was in jest (but also speaking from experience renting my own home) i certainly have my own opinions as to how I would deal with someone trying to deliberately screw me over long term, regardless of RTBs, judges, fines etc.

brenno1

3DataModem wrote: »

Good tip: don't invest where people want to live, invest where people have to live.

i.e. near hospitals, colleges, and within walking distance of industrial and retail parks.

Agreed on this 3DataModem. Makes sense and I think will ultimately guide my decision on where to buy

Fred Cryton

brenno1 wrote: »

Hi all.
After years of saving hard I will be looking to buy an investment property at around the 150k to 170k mark max early next year as a cash buyer; i dont want any mortgage debt on the property. Ideally a 1 or 2 bed apartment/duplex with minimal maintenance. And happy to consider renting to government on long term rental scheme.

This is my first time doing such a venture and i want to see if anyone has any experience in this and generally what part of the country they would consider a relatively safe bet (in terms of protecting the capital, a decent rental return €1,100 to €1,200 pm and bouyant rental market).

Within my price range I see plenty of properties in the following areas that I would like investment opinion on;

Drogheda

Balbriggan-this one seems v topical?v cheap for a reason?

Ballyfermot-i understand has one the best returns in the country?

Clondalkin

Citywest

Finglas

Tallaght

Limerick

Waterford

Maybe there are other areas I am missing that could be relatively decent value that people have knowledge on?

I'd go for Maynooth / North Kildare area. Intel investing massively and hiring thousands, the university expanding and dire shortage of stuent accomodation. Maynooth town itself is very prosperous and desirable for commuting.

brenno1

Fred Cryton wrote: »

I'd go for Maynooth / North Kildare area. Intel investing massively and hiring thousands, the university expanding and dire shortage of stuent accomodation. Maynooth town itself is very prosperous and desirable for commuting.

Agreed. But couldnt afford it im afraid. Expensive there for those reasons

Muahahaha

If your budget can afford Finglas then Id say it has the best potential for capital appreciation over the next 10-15 years, provided that the Finglas Luas extension gets built which I reckon it will over that time period. Theres lots of strong evidence of house prices taking a nice jump in value once a Luas starts up locally. Ive a mate who bought an 3 bed investment property in Cabra for just over 200k a about 2 years before the Luas opened, now its up and running his property would be worth 320k+ so he is quids in and now looking to repeat the trick in the Finglas area.

The Luas extension is likely to get built because it is only 4kms long and an easy win for Govt to point to in terms of investing in infrastructure. Nothing is ever guaranteed with these things but if youre willing to invest for 10-15 years I reckon it will be built by then, perhaps even sooner. So Id be researching where the stops are planned to be located and look at properties within a 5 or max 10 minute walk from those stops. Places like the areas around Charlestown Shopping Centre or Premier Square will all see a rise in value when it does open and you wont get an equivalent rise in other areas discussed here.