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Irish Property Market 2020 Part 2

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    #3872
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    Assetbacked wrote: »
    What's its proximity to Bono's gaff though?

    bono actually lives in killiney :D


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    #3873
    PropQueries
    Registered Users Posts: 2,203 ✭✭✭PropQueries


    Cyrus wrote: »
    anyway back to actual houses instead of amateur economics, serious office vibes from this place, the interior designer was given one colour palette only, carpets in the bedrooms look like actual office carpet tiles

    https://www.myhome.ie/residential/brochure/40-mapas-road-dalkey-co-dublin/4453155

    850k i dont think so somehow. But at least its cleanly done and relatively well presented if not over sterile.

    Here's the article about the house back in 2014 so people can compare. It does look like it has been renovated since.

    The PPR price was €620,000 on 16/03/2015

    Irish Independent article here: https://www.independent.ie/life/home-garden/on-the-market-three-sem-detached-properties-in-dalkey-30760390.html


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    #3874
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    fliball123 wrote: »
    no 40 has a much better finish and has more cash pumped in and has 40 Square foot more and thats with No: 7 including the attic which you would smack the head off yourself whilst walking around up there. I can easily see it fetching an extra 100k at least

    And no. 7 has full PP for a for a further 540 sq foot extension (if you choose to do so- the sellers obviously didn't).

    The attic conversion in no. 7 isn't sold as something its not (its just an attic conversion, period).

    I just can't warm to no. 40- whereas no. 7 is somewhere that you could actually see people happily living.

    Some recent sale prices on the road (from the Proper.ie)

    No. 6 went for 630k in 2020
    No. 7 went for 700k in 2020
    No. 11 went for 620k in 2017
    No. 14 went for 647k in 2016
    No. 41 went for 595k in 2017
    No. 46 went for 665k in 2019


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    #3875
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    The_Conductor wrote: »
    And no. 7 has full PP for a for a further 540 sq foot extension (if you choose to do so- the sellers obviously didn't).

    The attic conversion in no. 7 isn't sold as something its not (its just an attic conversion, period).

    I just can't warm to no. 40- whereas no. 7 is somewhere that you could actually see people happily living.

    Some recent sale prices on the road (from the Proper.ie)

    No. 6 went for 630k in 2020
    No. 7 went for 700k in 2020
    No. 11 went for 620k in 2017
    No. 14 went for 647k in 2016
    No. 41 went for 595k in 2017
    No. 46 went for 665k in 2019

    Well its guess work I reckon they will get close to what they are asking time will tell, most of these home renovation shows will nearly always have their renovations be as open plan as possible and it costs to do this but its not everyone's taste personally I do like it I think it looks modern and sleek but that is just me


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    #3876
    PropQueries
    Registered Users Posts: 2,203 ✭✭✭PropQueries


    Glenveagh cuts prices on luxury properties in Dublin and Wicklow to accelerate sales.

    According to the Irish Independent: “House builder Glenveagh Properties is cutting prices on hundreds of luxury homes in Dublin and Wicklow in a sign of weak demand at the top end of the market.”

    Irish Independent article here: https://www.independent.ie/business/personal-finance/property-mortgages/glenveagh-cuts-prices-on-luxury-properties-in-dublin-and-wicklow-to-accelerate-sales-39513776.html


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    #3877
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    PropQueries wrote: »
    Glenveagh cuts prices on luxury properties in Dublin and Wicklow to accelerate sales.

    According to the Irish Independent: “House builder Glenveagh Properties is cutting prices on hundreds of luxury homes in Dublin and Wicklow in a sign of weak demand at the top end of the market.”

    Irish Independent article here: https://www.independent.ie/business/personal-finance/property-mortgages/glenveagh-cuts-prices-on-luxury-properties-in-dublin-and-wicklow-to-accelerate-sales-39513776.html

    yes i know of someone who got one of the 900k marina village houses in Greystones for 750k, the neighbours are not happy!

    that type of development isnt glenveaghs core business, and the higher end stuff has been slow moving for a while now, this isnt a covid specific response, rather they have used covid to do something that would have been unpaletable without it.


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    #3878
    Assetbacked
    Closed Accounts Posts: 2,969 ✭✭✭Assetbacked


    What price range would be considered "top end" of the market from Glenveagh's perspective?


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    #3879
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    Assetbacked wrote: »
    What price range would be considered "top end" of the market from Glenveagh's perspective?

    i presume marina village in greystones and proby square in blackrock, 4/5 bedroom houses 900k-1.5m

    the average selling price for their houses is circa 300k pre vat so thats their end of the market.


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    #3880
    landofthetree
    Registered Users Posts: 2,303 ✭✭✭landofthetree


    PropQueries wrote: »
    Glenveagh cuts prices on luxury properties in Dublin and Wicklow to accelerate sales.

    According to the Irish Independent: “House builder Glenveagh Properties is cutting prices on hundreds of luxury homes in Dublin and Wicklow in a sign of weak demand at the top end of the market.”

    Irish Independent article here: https://www.independent.ie/business/personal-finance/property-mortgages/glenveagh-cuts-prices-on-luxury-properties-in-dublin-and-wicklow-to-accelerate-sales-39513776.html

    I predicted this months back.

    https://www.boards.ie/vbulletin/showpost.php?p=113497111&postcount=7605

    Loans have to be serviced so cash flow is vital. Property developers are screwed witbout sales coming in.

    Expect to see it happen on the lower priced property in the next couple of months,


    Next stage is the small property developers will start to go under. You know the type. His shills who work for him say he is sound, he is a good businessman,his property are well built etc


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    #3881
    hometruths
    Registered Users, Subscribers Posts: 5,797 ✭✭✭hometruths


    Cyrus wrote: »
    yes i know of someone who got one of the 900k marina village houses in Greystones for 750k, the neighbours are not happy!

    what's their problem?


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    #3882
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    landofthetree wrote: »
    I predicted this months back.

    https://www.boards.ie/vbulletin/showpost.php?p=113497111&postcount=7605

    Loans have to be serviced so cash flow is vital. Property developers are screwed witbout sales coming in.

    Expect to see it happen on th lower priced stuff in the next couple of months,


    Next stage is the small property developers will start to go under. You know the type. His shills who work for him say he is sound, he is a good businessman,his property are well built etc

    the point you made doesnt apply to glenveagh though, they arent selling to pay off pricey loans and they are seeing strong demand on their core product.


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    #3883
    awec
    Administrators Posts: 53,386 Admin ✭✭✭✭✭awec


    Not surprising for Marina Village, they were struggling to sell them even when things were booming. They were like a million euro at one stage.


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    #3884
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    awec wrote: »
    Not surprising for Marina Village, they were struggling to sell them even when things were booming.

    agreed, they were frothy prices, and as i said they are just using covid as an excuse to get them off the books and moved on.


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    #3885
    landofthetree
    Registered Users Posts: 2,303 ✭✭✭landofthetree


    Cyrus wrote: »
    the point you made doesnt apply to glenveagh though, they arent selling to pay off pricey loans and they are seeing strong demand on their core product.

    So they say but they lost a lot in the first 6 months
    The Maynooth-based firm recorded a gross loss of €15.2m in the first six months of 2020, versus a €7.5m gross profit in the first six months of 2019. It also reported an underlying loss of €7m


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    #3886
    awec
    Administrators Posts: 53,386 Admin ✭✭✭✭✭awec


    Cyrus wrote: »
    agreed, they were frothy prices, and as i said they are just using covid as an excuse to get them off the books and moved on.

    A million euro for a 4 bed gaff in a development was very steep. They are lovely houses, and you are literally right on the sea, but I am not sure if I had that money to spend I'd buy a house in a big development like this.

    There were other houses in the same development that were like 3/400, I think they were way smaller though.


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    #3887
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    landofthetree wrote: »
    So they say but they lost a lot in the first 6 months

    20m of that was the write down, albeit they are still loss making for the half year,

    anyway the point remains they arent selling to pay off expensive debt.


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    #3888
    MacronvFrugals
    Registered Users Posts: 1,014 ✭✭✭MacronvFrugals


    Glenveigh have some neck still using double glazing in those Marina Village offerings


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    #3889
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    awec wrote: »
    A million euro for a 4 bed gaff in a development was very steep. They are lovely houses, and you are literally right on the sea, but I am not sure if I had that money to spend I'd buy a house in a big development like this.

    There were other houses in the same development that were like 3/400, I think they were way smaller though.

    houses or apartments?

    i like the houses, they were well done, unfortunately much and all as i like greystones its a killer commute with the way the dart is, and for 1m quid youd want to love it.


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    #3890
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    MacronvFrugals wrote: »
    Glenveigh have some neck still using double glazing in those Marina Village offerings

    at least they arent Upvc like cualanor / honeypark in Dun Laoghaire :eek:


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    #3891
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    MacronvFrugals wrote: »
    It would break my heart paying 900k for that.
    It’s 5 beds in Dalkey in walk in condition for less than a million
    Granted it’s sterile but paint and a bit of interior design and it will be a nice home
    Big south facing garden and a B BER rating
    It will sell fairly quickly IMO


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    #3892
    awec
    Administrators Posts: 53,386 Admin ✭✭✭✭✭awec


    Cyrus wrote: »
    houses or apartments?

    i like the houses, they were well done, unfortunately much and all as i like greystones its a killer commute with the way the dart is, and for 1m quid youd want to love it.

    They were townhouses I think.


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    #3893
    MacronvFrugals
    Registered Users Posts: 1,014 ✭✭✭MacronvFrugals


    Cyrus wrote: »
    at least they arent Upvc like cualanor / honeypark in Dun Laoghaire :eek:

    How much were the homes in cualanor / honeypark? No doubt they'll say its not cause they're cheap its the longevity lol.

    I'd imagine they're getting these for pennies, like for a new expensive development its poor imo.


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    #3894
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    MacronvFrugals wrote: »
    How much were the homes in cualanor / honeypark? No doubt they'll say its not cause they're cheap its the longevity lol.

    I'd imagine they're getting these for pennies, like for a new expensive development its poor imo.

    the larger ones were 7-850k


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    #3895
    Hubertj
    Registered Users Posts: 2,000 ✭✭✭Hubertj


    PropQueries wrote: »
    Glenveagh cuts prices on luxury properties in Dublin and Wicklow to accelerate sales.

    According to the Irish Independent: “House builder Glenveagh Properties is cutting prices on hundreds of luxury homes in Dublin and Wicklow in a sign of weak demand at the top end of the market.”

    Irish Independent article here: https://www.independent.ie/business/personal-finance/property-mortgages/glenveagh-cuts-prices-on-luxury-properties-in-dublin-and-wicklow-to-accelerate-sales-39513776.html

    That Greystones development is awful looking in my opinion. Great location but just looked very expensive for what you got. We’re the houses 3 stories as well? I think they were struggling to shift them for some time too so writing may have been on the wall with or without Covid.


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    #3896
    MacronvFrugals
    Registered Users Posts: 1,014 ✭✭✭MacronvFrugals


    brisan wrote: »
    It’s 5 beds in Dalkey in walk in condition for less than a million
    Granted it’s sterile but paint and a bit of interior design and it will be a nice home
    Big south facing garden and a B BER rating
    It will sell fairly quickly IMO

    I know and in fairness its probably not a bad price all things considered, but it looks brutal especially from the outside.

    My dads a builder and knows plenty who have done false BER jobs so i wouldn't trust that or any other BER rating tbh.


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    #3897
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    brisan wrote: »
    It’s 5 beds in Dalkey in walk in condition for less than a million
    Granted it’s sterile but paint and a bit of interior design and it will be a nice home
    Big south facing garden and a B BER rating
    It will sell fairly quickly IMO

    its not really a 5 bed, its relatively tight size for a 4 bed even. and despite it being in dalkey its in a pretty uninspiring area and its relatively expensive compared to the surrounding houses.

    maybe itll sell quickly but id be surprised if it gets asking.


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    #3898
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    Hubertj wrote: »
    That Greystones development is awful looking in my opinion. Great location but just looked very expensive for what you got. We’re the houses 3 stories as well?

    yes 3 storey, the majority of new builds approaching 2000 sq feet and over tend to be nowadays.


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    #3899
    awec
    Administrators Posts: 53,386 Admin ✭✭✭✭✭awec


    Hubertj wrote: »
    That Greystones development is awful looking in my opinion. Great location but just looked very expensive for what you got. We’re the houses 3 stories as well?

    The expensive houses were the 3 story ones, yes.

    It was actually a pretty contentious development locally, particularly the bit by the harbour, but I think the houses too because they look so generic in such a striking location.


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    #3900
    Cyrus
    Registered Users Posts: 19,696 ✭✭✭✭Cyrus


    again over priced but this is more like it

    i run past this place 2 or 3 times a week and wondered what was in there,

    wonder no more!

    https://www.myhome.ie/residential/brochure/camelot-victoria-road-killiney-co-dublin/4453236

    some of the best views in dublin.


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    #3901
    awec
    Administrators Posts: 53,386 Admin ✭✭✭✭✭awec


    Cyrus wrote: »
    again over priced but this is more like it

    i run past this place 2 or 3 times a week and wondered what was in there,

    wonder no more!

    https://www.myhome.ie/residential/brochure/camelot-victoria-road-killiney-co-dublin/4453236

    some of the best views in dublin.

    Is the castle included? :D

    Some of that house looks lovely and some looks brutal. The round rooms would wreck my head.


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