Tuesday, Mar 30, 2010
Still a bit too pricey but a move in the right direction.
Irish Independent: Price is right as 1,000 join the queue to buy 46 apartments
One bedroom apartments 70k, 3 bedroom apartments 98k. this is a 63% reduction for the target price when they were built.
If they were in Galway or Dublin city I would say they're almost fair value but in co. Westmeath, they are still overpriced. A 75% drop from peak would probably be the bottom and there's no shortage of these developments . Still, the good news is that these kind of auctions will depress the whole market. Sellers of second hand houses and bungalows will have to reduce their prices ...
Posted by tenant super @ 05:58 PM (432 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. miken said...
Can't wait for these sorts of prices in England. Assuming a good proportion of the buyers were investors then this just goes to show that there is a lot of cash sloshing around out there. Some of these BTL investors would be a little silly to buy if there's no local industry to support the tenants. Also the huge number of rentals in a small space would surely drive down rents due to the competition.