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Where in Dublin to buy?

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  • 17-01-2014 10:26pm
    #1
    Chrisita
    Registered Users Posts: 125 ✭✭


    I am considering buying an investment property here, and may at some point live there for a while. I wish to pay between 120000 and 150000, and don't mind doing some work to update. Where is one likely to get a better, more long term tenant? Also house or apartment? What would you do? I have never lived in Dublin, so hardly know it at all and will really appreciate and value your opinions.


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    #2
    Moonbeam
    Moderators, Education Moderators, Society & Culture Moderators Posts: 18,953 Mod ✭✭✭✭Moonbeam


    It depends if you want to take social welfare tenants or not.
    120-150 will not stretch very far in the more affluent suburbs but in somewhere like Balbriggan there rental market is huge and it is very east to get tenants. Swords would be the same.


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    #3
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Look around dublin 15 . Will get property towards 150k big demand for rentals.


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    #4
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,465 Mod ✭✭✭✭johnnyskeleton


    Getting a good tenant is more about the amount of effort you put into agreeing the lease with them than with the area/property in question.

    However, well located family houses and high spec city centre apartments will usually have greater appeal and so you will have a greater choice of tenant.

    My advice is to invest based on what you know, so living in dublin for a while is a must before buying a property.


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    #5
    Chrisita
    Registered Users Posts: 125 ✭✭Chrisita


    I am attracted to inner city areas with a village feel. What is D8 like? I realize that I have some conflict regarding long term tenancies, because I am attracted to areas that probably wont attract this type of tenant. I really appreciate this help and feel like I am getting a crash course on the the geography!! Also where would one completely avoid?


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    #6
    Bepolite
    Closed Accounts Posts: 2,737 ✭✭✭Bepolite


    Chrisita wrote: »
    I am attracted to inner city areas with a village feel. What is D8 like? I realize that I have some conflict regarding long term tenancies, because I am attracted to areas that probably wont attract this type of tenant. I really appreciate this help and feel like I am getting a crash course on the the geography!! Also where would one completely avoid?

    D8 ranges from some of the worst area in Dublin to some bad areas that have come good, to some area which are exceptionally expensive. Even Inchicore which is exactly what you're looking for (the village feel) is a microcosm of good and bad areas.

    If in doubt buy D7 or D8 Quays area. 2 Bed in Viking Harbour on Daft at the moment at 145K - would probably attract €1100-1300 per month rent. A bit more if you did it up a bit. You might get something in Smithfield, The Maltings or Pier 19. Merchant's Quay (newest development) would push your budget.

    Long term tenants will be an issue in apartments. Getting a house in D8 in a good area will be an issue on your budget.


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    #7
    Chrisita
    Registered Users Posts: 125 ✭✭Chrisita


    I meant to ask about inishcore, without knowing Dublin at all, this appealed. Is it possibly an area that will gentrify, with time? I mean the parts that are awful now?


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    #8
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Chrisita wrote: »
    I meant to ask about inishcore, without knowing Dublin at all, this appealed. Is it possibly an area that will gentrify, with time? I mean the parts that are awful now?



    And with that comment I bow out. Best of luck.


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    #9
    Bepolite
    Closed Accounts Posts: 2,737 ✭✭✭Bepolite


    Chrisita wrote: »
    I meant to ask about inishcore, without knowing Dublin at all, this appealed. Is it possibly an area that will gentrify, with time? I mean the parts that are awful now?

    There's no really bad areas in Inchicore to be fair but there are areas that would attract a less desirable tenant. The only way you can know for sure is visit the area.

    If you stick to the Quays you'll always have a reliable rental as it's less than 2K to the City Centre. Inchicore is 5Km out of the city and is a bit of an odd area. Stoneybatter is another up and coming area but mainly with students and a kind of bohemian crowd.


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    #10
    OMD
    Registered Users Posts: 2,458 ✭✭✭OMD


    Chrisita wrote: »
    I really appreciate this help and feel like I am getting a crash course on the the geography!! Also where would one completely avoid?
    Dublin.
    You don't know the area. Avoid Dublin.


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    #11
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    OMD wrote: »
    Dublin.
    You don't know the area. Avoid Dublin.

    Dublin is a great city. All economic growth and job growth is all centered in Dublin. Do you dont hear of much job creation outside of Dublin do you ?Dublin is also the center of our english schools which create a massive demand for housing at the moment. There is tens of thousands of Koreans and Latinos learning English in Dublin at the moment.

    Have you considered an apartment in Dublin 1? You can pick up a 2 Bed in some developments for 100-110k and you will probably get 1200-1400 a month in rent for it. You will have management fees, but in some smaller developments are quite small.

    You will never have an issue renting a city center apartment. Just because an Irish person wont rent in a dodgy area, doesnt mean you shouldnt pay there. I have pretty of continental European friends living in the worst areas of the city and it doesnt bother them at all.


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    #12
    royster999
    Registered Users Posts: 199 ✭✭royster999


    Any opinions on this property: http://www.daft.ie/searchsale.daft?id=736957


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    #13
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    hfallada wrote: »
    Dublin is a great city. All economic growth and job growth is all centered in Dublin. Do you dont hear of much job creation outside of Dublin do you ?Dublin is also the center of our english schools which create a massive demand for housing at the moment. There is tens of thousands of Koreans and Latinos learning English in Dublin at the moment.

    Have you considered an apartment in Dublin 1? You can pick up a 2 Bed in some developments for 100-110k and you will probably get 1200-1400 a month in rent for it. You will have management fees, but in some smaller developments are quite small.

    You will never have an issue renting a city center apartment. Just because an Irish person wont rent in a dodgy area, doesnt mean you shouldnt pay there. I have pretty of continental European friends living in the worst areas of the city and it doesnt bother them at all.

    I haven't seen tens of thousands of Koreans or Latinos :confused:

    I haven't seen any 2 beds in D1 for 11-10k :confused:

    I'm sure that once the foreigners find out that hte area they move to has junkies injecting and ****ting outside their apartments then they realize it's a dodgy area!


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    #14
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    OMD wrote: »
    Dublin.
    You don't know the area. Avoid Dublin.

    This. The return of Robopaddy-like "investors" is exactly why I think this is another bubble.


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    #15
    pitrn
    Registered Users Posts: 93 ✭✭pitrn


    How is smithfield in D7 area to buy rental property?


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    #16
    Bepolite
    Closed Accounts Posts: 2,737 ✭✭✭Bepolite


    pitrn wrote: »
    How is smithfield in D7 area to buy rental property?

    Smithfield can get a little roudy, the other issue is huge management fees for the massive apartment complexes. Renting it out won't be an issue expect 900-1000 for a one bed depending on spec. Two beds go from about 1300 - 2500 for a penthouse. Expect queues around the block at the moment for viewings. Dublin is fecking crazy.


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    #17
    John_Rambo
    Registered Users Posts: 9,508 ✭✭✭John_Rambo


    I'd ignore some of the negative posts OP. If you look back at some of their post history you will see that they have an ax to grind or some sort of grudge against certain areas. You will also see that although they talk a lot about property, they have never actually bought any. 0% experience 100% mouth.


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    #18
    owenstylie
    Registered Users Posts: 5 ✭owenstylie


    With this budget I would buy a 1 bed apartment in the IFSC area (return will be very strong) or a 2 bed near the hospitals in Dublin 8. Strong rental area


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    #19
    Santa Cruz
    Banned (with Prison Access) Posts: 3,126 ✭✭✭Santa Cruz


    hfallada wrote: »
    Dublin is a great city. All economic growth and job growth is all centered in Dublin. Do you dont hear of much job creation outside of Dublin do you ?Dublin is also the center of our english schools which create a massive demand for housing at the moment. There is tens of thousands of Koreans and Latinos learning English in Dublin at the moment.

    Have you considered an apartment in Dublin 1? You can pick up a 2 Bed in some developments for 100-110k and you will probably get 1200-1400 a month in rent for it. You will have management fees, but in some smaller developments are quite small.

    You will never have an issue renting a city center apartment. Just because an Irish person wont rent in a dodgy area, doesnt mean you shouldnt pay there. I have pretty of continental European friends living in the worst areas of the city and it doesnt bother them at all.

    Absolutely. Continentals are used to apartment living and particularly in city centre areas. It also rules out the need for a car and reduces transport costs. We still don't have the right attitude to apartment living


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    #20
    Chrisita
    Registered Users Posts: 125 ✭✭Chrisita


    For all your wonderful responses and ideas. I am still very keen on d8 and hope to visit later in the year to experience the area for myself. The area between Inchicore to Christchurch and up to Ushers Quay. Torn between a house and an apartment. I have never owned a freehold property (always apartment or townhouse). What is the rental situation with pets there? Is there much demand. I fancy the idea of renting to someone with a pet. Quirky,I know!!


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    #21
    robnet77
    Registered Users Posts: 460 ✭✭robnet77


    in D8 I would avoid the southern areas like the plague (e.g. Fatima, The Coombe) and, with respect to Usher's Quay, mind where social houses are as it can get quite rough in such areas...

    About rental return, I would monitor advertisements on Daft for the area you have chosen and see how fast apartments go, asking prices etc.


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    #22
    Santa Cruz
    Banned (with Prison Access) Posts: 3,126 ✭✭✭Santa Cruz


    Chrisita wrote: »
    For all your wonderful responses and ideas. I am still very keen on d8 and hope to visit later in the year to experience the area for myself. The area between Inchicore to Christchurch and up to Ushers Quay. Torn between a house and an apartment. I have never owned a freehold property (always apartment or townhouse). What is the rental situation with pets there? Is there much demand. I fancy the idea of renting to someone with a pet. Quirky,I know!!

    Contrary to common belief most management companies have House Rules which allow pets as long as they do not cause inconvenience to other residents. I have seen apartments with cats, smaller sized dogs, parrots, rabbits all causing no hassle to anyone.


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    #23
    Johnnyhpipe
    Closed Accounts Posts: 748 ✭✭✭Johnnyhpipe


    Chrisita wrote: »
    I meant to ask about inishcore, without knowing Dublin at all, this appealed. Is it possibly an area that will gentrify, with time? I mean the parts that are awful now?

    Go up and ask the locals of inchicore when they expect to gentrify? I suspect your answer will be something along the lines of "ya bleedin wha?!"


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