JoeDavola

Oh, and if there's ever another crash, apartments will crash hardest. They did last time.

I have lived in a central Belfast apartment for almost a decade. Always renting. Single, mid 30's. I love being near everything. Walk to work, walk into town or cinema or to see a gig. No need to own/run a car. However: - I have to use ear plugs to sleep in the evenings - I'm lucky that there's no noise from the neighbors, but in many apartments there will be, and bad neighbors can make your life hell; and you won't know until you move in after you've bought the place - the rise of airbnb means that many city center apartments are now run as airbnb's - which gives you the additional risk of being beside one of those - cost of maintaining an aging apartment block - the maintenance charge, which is significant, 1200+ (and you have to add rates to that), doesn't cover big unexpected repairs. You need a sink fund for that. But I've hears several stories of management companies not being careful with the money over the years and buildings that are decades old which are supposed to have large sink funds built up by now are actually in debt. So even if you own the flat outright, you'll have a bare minimum of 2K a year in rates and maintenance fees to pay, as well as the occasional additional charge...I'd budget 3K a year all in for the average 2 bed apartment in a modern block based on the stories I hear - ....and with that all considered, you have to ask yourself if owning an apartment is worth the risk when they have once again risen to a similar cost to a 3 bed semi a couple of miles away. One thing that might save you some money is if you find a flat in a small block that doesn't have a lift; will reduce the maintenance charge somewhat.

Yeah I think ultimately you're right. Good analysis.

Yeah if I buy I'll be fixing for a long time, at least 5 but possibly 10 years if I can get it.

It's all very odd. There was a report on another forum I post on of someone looking at houses just outside of Belfast, in the 250K range, and apparently nothing was selling. His opinion was that there was a stalemate of sorts happening, people unwilling to drop prices and lots of chains unable to complete because of it. But then again, most of what comes up in Belfast sells quickly, especially if it isn't a complete dump (as many places are). A country heavily dependent on public money, with no functional government, with the source of that public money going through turmoil with Brexit...I'm not ruling out buying a house myself, but anyone I know that was thinking of moving 'up the ladder' has cancelled plans to do so because they didn't think it was worth the amount that was being asked for a slightly bigger house. A mate of mine went to see a mortgage advisor recently who told him many people walk in with 5 figure credit card debt, and some people can't even tell him what exactly their wage is. At the end of the day it all hinges on easy access to credit, doesn't it. If credit dries up, or becomes significantly more expensive, the whole house of cards collapses. I know that the UK will do everything in it's power to stop that happening; so it's a case of whether or not an external event will force it. To those who say 'it's cheaper than the rest of the UK', that's only because the rest of the UK is ridiculously overpriced.

I'd love 5.5% rates, obviously. 200K has suddenly become the new 150K when it comes to entry level housing. Another crash can't some soon enough; not that I think it necessarily will.

Yeah I'm wondering are they pricing it sensibly to attract a ton of bidders.

What would this have been during the crash? https://www.propertypal.com/3-regents-wood-190-malone-road-belfast/544694

What kind of person was it - i.e. what line of work are they in. I'd be fascinated to know who's spending half a mill for an apartment in Belfast, even a big one.

Anyone know anything good/bad about this block: https://www.propertynews.com/property-for-sale/belfast/apartment-type/flat+5+derryvolgie+avenue/property/UPS11217-2-10094562?status[]=For+Sale&sector[]=Residential&offset=0&limit=10 @2buyornot2buy if I remember correctly you live in the area?

I notice that PropertyPal appear to be removing the prices of houses once they go sale agreed. Wonder why that is.

This stuck out as a pefect example of how impressive council houses can be compared to the shoeboxes that they're building in the private sector: https://www.propertynews.com/property-for-sale/belfast/end+terrace-type/11+friendly+way/property/NPMNNPMNI4766?status[]=For+Sale&sector[]=Residential&offset=0&limit=10 That house is 163 square meters according to the LPS - they just don't build houses that big nowadays. Of course you'd be a braver man than me to live in the markets area.

I love living in an apartment, and this is the size that I wish that most apartments were built, rather than the rabbit hutches that are currently being constructed. I do think that the sloped ceilings in some of the rooms would make the place seem smaller - I've been in another apartment-in-a-roof and was surprised by how much of a negative effect on the perception of space that the sloped ceilings had. I see they're trying to flog Obel apartments for a fortune again after a decade of nobody wanting them: https://www.propertynews.com/property-for-sale/town/apartment-type/62+donegall+quay/property/ST0111211101253004585?sort=Date+Added&status[]=For+Sale&sector[]=Residential&offset=30&limit=10

Oh you're right about Portland - it beggars belief that anyone is buying any of them. The fact that you'd have your own lift wouldn't be a selling point for me; I'd see it as a liability as presumably you'd be paying the repair bills for it entirely yourself. But I can see how it might appeal to some.

Am I missing something, or is the price on this a bit ambitious to live in a roofspace with an EPC rating of E40 and a lift that that looks like it was made in the 1960's: https://www.propertynews.com/property-for-sale/belfast/apartment-type/mornington+mews/property/MCQMCQ1066?sort=Date+Added&status[]=For+Sale&sector[]=Residential&offset=0&limit=10