city centre section 23

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markowitzman

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Not from the big smoke so looking for advice. Need to buy sec 23 and was thinking dublin for best chance of getting rental income and holding value after 10 years (maybe!). Currently there are appts in cork st., foley st., steelworks, talbot st, smithfield among others. Would appreciate advice from a dub investor that has looked at these. Which would have best long term potential? Which has the best current rental market? Thanks.
 
Try www.daft.ie for rental levels. Personally I think all city centre is overpriced and sec 23 particulary so, but I suppose if you have excess rental income available it might make sense. From your list, I think Steelworks is the most potentially "improving" area - wouldn't touch Foley St., it's the middle of badlands. Also might be worth looking at Grand Canal area developments - not sure if they're sec 23 or not, but it's definitely an up and coming part of town.
 
Yes had a look at daft.ie. Thanks for advice Observer. Agree with you they have relief factored into asking price. Am in two minds whether to go for city centre sec 23 or one of these sale and leaseback sec23 investments. Just missed out on one in Bunratty. Buy for 400k and get 12k per annum rent for 10 years at which time developer will buy back. So one is purely investing for the relief. Am kindof drawn to the sale and leaseback as less commercial risk to me as rent a given and less hassle trying to rent an appartment in Dublin. Has anyone else gone down the sale and leaseback route in Ireland (all the go in France but not for me).
 
Went to Dublin to have a look at sec 23 props. Not impressed! Completely overpriced. Instead think I will go for good quality southside apt which will be self financing or will spit out a cashflow. One will never go broke making a profit even if there is a wallop of tax to pay at year end??
 
markowitzman said:
think I will go for good quality southside apt which will be self financing or will spit out a cashflow.
Click to expand...

Don't see many of those about these days - residential property is only self financing on an interest only basis and, even then, just about so........
 
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