property Ireland

Apartments for €69,950: Would you buy at this price?

Apartments for €69,950: Would you buy at this price?

Apartments for €69,950: Would you buy at this priceApartments at Tailteann Court in Mullingar which is less than an hour outside Dublin city centre, go on sale this weekend for as little as €69,950.

The 63 apartments which were originally put on the market for €202,000 failed to sell a single unit and are now being sold for less than two thirds of their original asking price.

Director of the Irish Mortgage Corporation Frank Conway, who is assisting with the sale this weekend said that the monthly repayments for one of these apartments would be cheaper than a car loan and also the equivalent monthly cost total of a 20 a day cigarette habit.

“If a person were to take out a mortgage of €75,900, their net payments would be only €264.85 per month. If we compare this to a car finance payment, let’s say they borrow €15,000, interest rate 10%, four-year loan, the repayments would be €380.44. Not only that but if you buy a pack of 20 cigarettes per day for one month this would cost €263.50. For just over €1 more, you could own a two-bed property,” he said. …

Is it cheaper to buy than to rent?

Is it cheaper to buy than to rent?

Is it cheaper to buy than to rent?Recent reports reveal that the rental market is showing, albeit small, signs of stability. To the delight of some landlords, good quality rental property is in demand and rent rates have slightly but steadily increased since December 2009.

With this recent news, the worthy discussion on whether to buy or to rent has raised its head once again.In terms of asking prices, property is now a lot cheaper than during the Celtic Tiger reign and house prices are a lot more attractive now than three years ago. Commenting on the latest rental reports, PIBA, the country’s largest group of independent stock brokers said…

Irish rental market following in hot pursuit of UK market

Irish rental market following in hot pursuit of UK market

Irish Rental MarketFollowing recent reports that the rental market in the UK is starting to pick up it seems the bug has sailed across the waters to Irish shores. According to the Lettings wing of Sherry FitzGerald there are signs (albeit small) of stability emerging in the Lettings Market.

However the signs of stability are more concentrated in sought after locations in the Dublin city centre market and are not the talk of the entire country. This new found good news in Dublin’s city centre they say is due to a “combination of a tightening of supply and resilient demand resulting in more stabilised rents”. Not only that but because of the high level of quality apartments available in the city centre along with public transport facilities and a wide range of amenities, the rental market in the city is more attractive and highly sought after by potential tenants. Poorer located properties…

Buy of the week: Leenavesta, Westport, Co. Mayo

Buy of the week: Leenavesta, Westport, Co. Mayo

Buy of the Week: Leenavesta, Westport, Co. MayoBuy of the week this week is also located in the beautiful county of Mayo. Just outside Westport in Leenavesta is a charming fully renovated traditional 2 bed river cottage.

The cottage which is located in the most tranquil of settings with spectacular views across the surrounding country side to Croagh Patrick and The Sheefrey Hills is situated on eight acres of land and has thoughtfully landscaped garden that an incorporates ponds, stone walls and fruit trees among other things.  The property also comes with an adjoining stone outbuilding offering the potential for extension.

3 properties for under €240,000 in Co. Mayo

3 properties for under €240,000 in Co. Mayo

3 properties for under €240,000 in MayoThis weeks three featured properties for under X amount are all located in Co. Mayo. All properties come in under the €250,000 mark and by all standards are very good value for money.

First up is a 4 bed semi detached situated in Knock and on the market for only €125,000. Not only is10 Carramore Drive is located in a new development in the heart of Knock but the property benefits from a structural guarantee, fully insulated walls, floors and attic, fully painted interior and oil fired central heating with dual immersion.

345,000 vacant homes in Ireland

345,000 vacant homes in IrelandAccording to a report published by the Urban Environment Project at University College Dublin, there are no less than 345,000 empty houses or apartments in the State. This figure equates to just under 18% of all housing in the country.

This enormous oversupply of homes available in the Irish property market is a number well above recent figures released by both the National Institute of Regional and Spatial Analysis (Nirsa), based in NUI Maynooth and the Construction Industry Federation (CIF). Of course both groups defended their research with CIF stating that their 40,000 figure from the Irish Home Builders’ Association was the number of new, unsold homes in the State and did not include other categories such as second homes.

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