Castletroy Limerick

[clipper1981]

was thinkin of buying a place here and then renting it to take advantage of the rental income from the college. Has anyone here done anything similar and if so is it worth it? In terms of house prices in Limerick are the increases in line with most other parts of the country?

 

[dino]

Limerick is suffering from serious over-supply and this is causing a slowdown of the market. I know a few people who had older property beside the college but the students don't want them anymore. A huge student village was built near the college recently and for around €60 per week (i think) the student gets a good sized ensuite bedroom with a communal kitchen & Sittingroom between 4 or 6 students. It includes all bills and broadband access. Sounds like a great deal to me.
For a good idea of the market, you should check out the Limerick Leader. They do all the property rental ads on a Wednesday or Thursday in the County Edition. This is the popular place to advertise in Limerick.

 

[DrMoriarty]

Capital appreciation is probably on a par with most other parts of the country, but rental yields have softened a lot in recent years, due to oversupply — especially around the University area. Have a look on MyHome.ie and search for Limerick Co./Castle Troy (sic).

[Edit: post crossed with dino's. Here are the Limerick Leader's 'accommodation' listings...]

 

[newkid30]

In this mornings metro(that free commuter paper), they said that property in areas such as Galwway, Limerick, Sligo etc all slowed down last year. Not as many properties are being built there either.

Not sure how accurate their reporters or sources are?

That university property sounds a bargain, with broadband and bills included, how will other landlords compete with that??

 

[valentine]

There was a long post on this not too long ago on the property Investment Thread. Am from Limerick, though not living there any longer and about three years ago came close to buying an investment property in Castletroy. Figures seemed great - 5 bedrooms etc due to a converted garage and the price seemed very reasonable compared to Dublin prices.

Local advice was that only if you are looking at a very, very, very long term investment might it be worth buying there. Some people - mainly residents, hope that areas like Elm Park etc might revert to family homes in the future. I don't know. I do know that there is a oversupply of rental properties in Limerick and am very glad that I didn't go down that route. Also students are much pickier these days, so those houses aren't that popular and being honest a lot of them are just wrecked inside! Finally the Limerick Post do a local property supplement!