Myself and some partners have recently put a lot of work into finding out the very thing the op is asking.
We have done research on different property types and areas.
Our conclusion, which we are about to act on by buying 4 apartments is the following. (We are closing on the first 2 in the next 2 weeks)
Swords is the best area to invest for us so i'll explain how we came about this to you.
Others come close though, so we may split half Swords, half a different area.
Property is reasonably priced. It is not as far from the city center as Dun Laoghre or Bray. This is not priced into the market at the moment and will not be until the Metro is closer to starting and in the news.
What makes it attractive is. Metro will be in Swords in a few years. This makes Swords much much closer to the city. Puts it Up on the all-important commuting level with Dun Laoighre and Bray, Malahide, Portmarnock, etc.
This will make the area more desirable to live and more importantly is not priced into the market at the moment.
We believe this will have a positive impact on Property prices.
On the type of apartment.
2 of my partners have other properties of 1, 2 and 4 bed buildings and have had a huge say in the amount of beds we will be investing in.
1 Bed apartments are the best investment for us for the following reasons.
Much easier to let.
Lower entry cost.
Lower Maintenance. No Gardens. Less wear and tear and only 1 or 2 tenants to deal with. (The less tenants at a time the better)
We have found Applewood in Swords to be the best value in 1 bed apartments. Though only those apartments from the first 2 phases. These a very large apartments compared to the shoe boxes that you get in Holywell and Boroimhe and the later phases in Applewood and will rent much easier than shoe boxes.
These apartments are for sale from between €260K and €270K at the moment.
Rents in these apartments is about €1000 - €1100PM at the moment.
From our research these apartments td not remain empty more than a couple of days. (Watch your chosen area on DAFT.ie and visit a few too)
As there are 4 of us and we are investing in 4 properties we feel that any vacant periods are manageable, even if all at the same time for long periods (worse case scenario).
Its long term, so we arent that concerned about property values falling in the short to medium term. We are looking at 20 - 25 years of investment.
OP i hope this is of use to you. The main thing i would say is to do research into the area and type of investment you are thinking about. Dont be afraid to bail out if the figures arent adding up and try to spot areas that have something to offer in the future that is not priced into the market yet.
Also make sure that you pick a type with the least amount of work and investment for the maximum gain.
There are probably better places and types of buildings to invest in, but the above is the best we have found for us. You may find something else to be a better investment. If you do let me know.
Rents
http://daft.ie/searchrental.daft?s%...t%5D=&s%5Badvanced%5D=&s%5Bprice_per_room%5D=
Prices
http://www.daft.ie/searchsale.daft?...t%5D=&s%5Badvanced%5D=&s%5Bprice_per_room%5D=