Apartment value in relation to its location to the town centre?

M

mancino

Registered User
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About an apartment in Royal Canal Park (Dublin 15)

"The estate agents advised that they priced their apts higher when being away from town centre as these were more exclusive."

Is this true?

I would think that apartments near the town centre are closer to amenities and transport links.

Does anyone know how apartments should be valued in relation to their location to a town centre?
 
mancino said:
Does anyone know how apartments should be valued in relation to their location to a town centre?
Click to expand...

My tip for apartments, if they don't conform to these minimum specifications - then don't touch them with a bargepole.

[broken link removed]
 
Thanks, it is a good link, an important element is the apartment size, which these apartment may not fulfill.

The recommended minimum floor areas for different apartment types shall be:

• 1 bed: 55m2 minimum
• 2 bed: a range of 80m2 to 90m2
• 3 bed or equivalent: 100m2 minimum

Going back to the original question. What would be more expensive, apartments closer to the town centre, or far away?
Amenities an train station are closer to the town centre.

From what I see from Dart.ie, the closer to the town centre, the more expensive...
 
In general the closer to the Central Business District is almost always better. However there are other factors aside from raw geographical location that effects price...

> Area safety
> Proximity to local amenities (e.g. those found in Dublin "villages" like Rathmines, Ranalagh, Howth etc.)
> Apartment size
> Development size (100's squeeze together with no focal point or landscaping drags down value... no exclusivity or privacy)
> Local transport links - Luas, Metro route (indeed a solid luas link could easily eliminate part of the value gap based on raw distance to town centre)
> Area appeal - young professionals, mature families... or students and social housing
> Apartment quality & style (architectural points, high quality build vs. shoddy)
> Demand in area for houses (obviously hundreds of apartments flooding an area will drag down prices)
> Age (apartments have somewhat limited lifespans, so newer ones have a premium)
> Misc items such as parking and management fees
> The preception of the area as a renters/investors area or owner occupiers area... people prefer to buy where lots of people settle
> And to an extent unique selling points such as "green development", "sea views", "on-site crech/gym facilities".

However in the end of the day supply and demand in an area will determine price... if lots of people want to live in Blackrock or Ranalagh, then prices will be high, and if only a few people want to live in Phibsboro and Swords, then prices will be lower...
 
mancino said:
About an apartment in Royal Canal Park (Dublin 15)

"The estate agents advised that they priced their apts higher when being away from town centre as these were more exclusive."
Click to expand...

Royal Canal Park is hardly "exclusive".
 
My apologies,
My fault entirely,
Do you think we'll be able to talk about House prices when they have lost another 20%?
 
danFTB said:
My apologies,
My fault entirely,
Do you think we'll be able to talk about House prices when they have lost another 20%?
Click to expand...

Can we stop this kind of nonsense talk please. It's quite right that unwarranted pessimism is banned. We don't want this site turning into another property pin.
 
Sounds to me like the Estate Agents are being a bit disingenuous...I would imagine that most people and potential buyers would prefer to be near to all the amenities, not further away from them. That would seem to go against most property trends...and against logic really, particularly when you are talking about buying in a development.
 
charliemacck said:
It's quite right that unwarranted pessimism is banned.
Click to expand...

If unwarranted pessimism was banned on the ISEQ, would that have prevented it from dropping 60% in just over a year, and returning to 1997 levels?
 
cromulent said:
If unwarranted pessimism was banned on the ISEQ, would that have prevented it from dropping 60% in just over a year, and returning to 1997 levels?
Click to expand...

Certainly rampant pessimism would not have helped. Which is the reason that such idiocy is banned on aam, thank goodness. Let's have more positive stories please.
 
Malfunction alert - Pls check batteries on you sarcasm detectors Cromulent!
 
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