2-Bedroom houses now start at over half a million euro

Elessar

Can we talk about this?

https://www.irishtimes.com/life-and-style/homes-and-property/new-to-market/a-touch-of-danish-design-in-the-first-26-homes-at-cherrywood-1.4716157

New 2 bed houses coming on stream at Cherrywood in Dublin will start at €555k. 3-bed mid-terrace houses start at €635k and 4 beds from only three quarters of a million euro. Get one while you can folks!

Seriously €555k for a tiny 87sqm 2 bedroom house? In Cherrywood?! Is this what we've come to?

I could understand if it was Dalkey or Rathgar or Malahide or somewhere upmarket, but Cherrywood? Wasn't it supposed to be an affordable development?

2 Bed places are usually a more affordable 'foot on the ladder' property for singles and young couples, but how on earth is the average person supposed to buy a starter home at these prices?

I'm surprised there's not more commotion about this in the media. I guess this is normal now.

Murph85

500 metres from a luas stop and they are building low density housing... lol! Lol!

Atlantic Dawn

https://www.boards.ie/discussion/comment/118119670#Comment_118119670

With full driveways.

pcardin

Over a half of Mil yoyos...for tiny shoe box...in Ireland.....

https://pin.it/5NwS1zy

Larbre34

These are very high end homes in a very expensive area with excellent infrastructure.

*THESE* two bedroomed houses start at 0.5m, but your thread headline that '2-bedroom homes now start at over half a million euro', as if it is some sort of market norm, is false and misleading.

I can find you a 2 bed home in the county of Dublin for 250k and one for 2 million, if its outliers you are interested in.

pcardin

Quarter of M is also very much nuts for 80sqm tbh

Larbre34

https://www.boards.ie/discussion/comment/118120061#Comment_118120061

No it isn't. Two average wage earners together make 70 to 80 grand and could get a 300k mortgage without blinking.

Weepsie

https://www.boards.ie/discussion/comment/118120197#Comment_118120197

It is though. It's gone beyond what should be normal. Only 2 years ago that would've been a decent budget for lots of places if you were happy to make some sacrifices on location etc, but now it's buying a wreck at best.

Places are being advertised at 250k and selling for 50-100 over that, and they need work.

Marty Bird

https://www.boards.ie/discussion/comment/118119960#Comment_118119960

I wouldn’t say cherrywood is expensive right beside the brack there’s not much there it has the luas and the 7 that’s it. Get a 3 bed in tullyvale for under €400k

Strumms

Hypothetically...If we weren’t in the EU, I’d love a government to take on developers...via use of a housing regulator... max price for houses and any attempt at gouging or trying to circumvent would lead to criminal convictions...

dozens of industries are regulated, a pub in a housing estate in Santry can’t serve alcohol after 11.30 on a Wednesday.

regulating house prices via a housing regulator should be done...

Larbre34

You're right about that being anti-competitive. But theres nothing to stop the Government here using its financial heft to become a serious developer and build homes for life of many types on a co-operative housing basis like seen in many continental states.

We just need an ESB for housing. And maybe that's what the LDA is on its way to being. But lets hope it doesn't turn into an Irish Water.

Dont buy one so OP

fullstop

https://www.boards.ie/discussion/comment/118119670#Comment_118119670

The Luas is already at capacity in the mornings, so this development will already cause issues without building high density.

pcardin

https://www.boards.ie/discussion/comment/118120197#Comment_118120197

lol...we are both obviously residing in two different dimensions. Its not about getting a mortgage for a 300 k without a blink (which is an obvious lie anyway) but it is about fact that 300k is percieved normal for a 80sqm sh1t box that I wouldnt even call a house. Something that is attached to your neighbours wall is not a house. Its a farm.

Larbre34

If you're not willing to accept or at least verify basic facts for yourself, I'm done discussing it.

Darc19

https://www.boards.ie/discussion/comment/118120629#Comment_118120629

What's wrong with Irish water?

If you clear out the noise from the fucwits like Paul "silver spoon" Murphy and other fools, you'll realise Irish water have managed the water system fairly well and semi-permanent boil water notices are a thing of the past.

The LDA looks promising and proper long term funding is being provided. Let's hope it hits the ground running

SupplyandDemandZone

Anyone currently using the Luas to commute into the city for work at rush hours from Sandyford or Dundrum etc... can forget about being able to get it after all those apartments and units are finished in Cherrywood.

cj maxx

Maybe do what I did. I couldn't afford the rent in the town I was living in, so moved to a place I could afford.

Larbre34

https://www.boards.ie/discussion/comment/118120682#Comment_118120682

In terms of its conception and its infancy, it was an absolute clusterf***.

Rket4000

It seems like crazy money for those house sizes - but it's market forces. If people will pay those prices that's what they'll charge.

Ush1

https://www.boards.ie/discussion/comment/118119960#Comment_118119960

What's high end about them? Other than the price.

riclad

There's not enough houses being build low supply high demand equals high prices . It probably costs 200k plus to build a house,building materials cost 35 per more since 2020 it's a ridiculous price for a standard house my friend sold a 4 bed house dublin 15 for 250 k 3 years ago with large back garden

But you are also paying for location

Plenty of 3bed houses going for 250k in working class aread

Builders used to always build new 3 bed house my advice buy where you can afford to buy i think now banks are asking how much couple earn plus can you get money from your parents too for the deposit

The regulator has to make sure banks are not lending too much money to couples to buy a house and the government says it will build 20k units per year

I might be more acurrate to post New 2bed houses are now 500k

85603

southside, inside m50. suck it up or lower your demands and try northside and/or outside the sacred m50 pale.

riclad

You are paying 250k to live on the south side, a mortgage is 30 years approx, to pay back the extra 250 k will actually cost you 500k.at least assuming interest rates are low, you can still buy an old 2bed house for 250k on the northside

Interest rates on mortgages may go up in a few years as inflation rises no one knows what interest rates will be in 2030

I'd like a housing expert or an economist to discuss is a 2bed house for 500k a good investment ? Dublin is not new York or London

dxhound2005

In 2020 86% of properties were declared as being worth under €250K by the owners. See Page 9.

https://www.revenue.ie/en/corporate/documents/statistics/lpt/local-property-tax-2020.pdf

That was an old valuation. But even the new LPT valuation shows over 50% being valued under €263K. So any €500K house is an outlier.

https://www.independent.ie/business/personal-finance/tax/one-third-of-local-property-tax-returns-value-homes-at-less-than-200000-41011374.html

https://www.boards.ie/discussion/comment/118120846#Comment_118120846

oh hardly cos some fools made a big deal about how water is "our right"

yeah, it's surely a right to have it pumped right into your gaff and maintained for ye for free.

try that in a supermarket just go grab a bottle and refuse to pay because "water is our right".

Montage of Feck

https://www.boards.ie/discussion/comment/118119670#Comment_118119670

Why the feck are we still following the failed US style planning model, if you want to have a sprawling mess with a myriad of social issues and lacking cohesion it's the way to go.

Murph85

https://www.boards.ie/discussion/comment/118124719#Comment_118124719

I was up in clayfarm earlier. The amount of development underway is staggering... there should be a condition of planning, that these massive developments require at least a basic local shop ... you have people driving a few km to get a litre of milk for god sake! It's just insane...

You are right about us following the failed us model though... it shows you the absolute hate faced living going on from politicians about sustainability etc. When they are actively opposed to it... sanction low density housing near the only semi decent bit of rail infrastructure in the state and the only bit that has been in a hundred years, is the few km mickey mouse luas system and it is totally mickey mouse for a city of 1.5 million and 2 million probably not more than 2 decades off...

Strumms

The market should be regulated... housing, shelter IS a human right... therefore companies actually actively operate to limit people’s ability to procure the most basic housing it needs to be acted on...

Murph85

https://www.boards.ie/discussion/comment/118124676#Comment_118124676

One third saying they love I a property worth less than 200k and pay e90 a year. It's a ridiculous tax not even worth collecting ... scrap it. The only ones paying anything meaningful, are the ones already contributing far more than their fair share of tax...

dxhound2005

Where would you look for the €453 million, if it is scrapped?