Dublin docklands investment

J

johnp06

Guest
What do people think of investing in property down in the docklands area? areas im talkin about would be near the point depot, east wall direction. There are a few opportunities down in east wall today which look reasonable as they havent skyrocketed like ringsend just yet....

Do people think this will be a prosperous and bouyant area in the near future?
 
I have also thought about investing here, but with 1bed apartmenst priced round the 300k mark any upward trend in interest rates would put pressue on the rental covering the loan repayments!

Although they are cheaper schemes to be found round East wall, I personally would rather pay that extra bit for an IFSC location.
I have looked at Clarion quay myself, where quality and location can't really be beaten.

elk
 
docklands

not sure if the 300,000 for one bed apt is really worth it. there are so many similar developments currently being built around here and may oversupply for the next few years. even the older ifsc apts are now less likely to sell or become tenanted as they're much less desirable than the new trendy ones. also, when it comes time to sell i'd imagine that most likely buyers will want to live in a new apt rather than an older one even for stamp duty reasons alone, without mentioning the common preference for a cooler address.
 
Re: docklands

bearing in mind the current pricing structure for apts around east wall (lighthouse/crosbies yard - you can get a 2 bed 800 sq ft apartment for 325k excluding parking) do you think something like this would be a better investment than the same in ringsend which could cost up to 500k depending on whether u can see water or not.

prices are cheaper in east wall right now because it is still quite under developed but given its proximity to town/IFSC etc this can only augur favourably for future development and price rises in the area. would people agree?
 
Re: docklands

I have looked at Crosbies yard and the Lighthouse scheme, but decided to pass up on both because of location.
Iam now looking round the IFSC area as do I think its letting potential is way ahead of anything else in D1.
Prices are steep at 300k for a 1bed, but I know someone else who has invested here and has a cosy corporate-let deal down their with one of the international banks.
He says their is plenty of interest and he is thinking of buying a second place.
When it comes to letting, I think would-be tennants will always look at nearby facilities which the 2 schemes around East wall seemed to lack in abundance.

elk
 
Re: docklands

when u consider that to buy a 2 bed in clarion quay could cost anywhere between 400 and 500k and the rental/buy to let market the way it is today, seems like quite a gamble to me to invest based on someone elses "cosy" deal with a bank.

dont get me wrong, if u can swing one of these deals and let ur place out to a corporation, happy days but if not u will be left holding the baby if u know what i mean...not to mention hefty monthly mortgage repayments.

i agree with ur point of the closer to town the better but my point is - is it really worth the extra 100/150k to buy in an established complex like clarion quay where ur paying top of the market prices instead of getting in early in an area like east wall where future developments may/will skyrocket the price of these early developments like lighthouse/crosbies yard?

regards,
jp
 
elk123 said:
I have also thought about investing here, but with 1bed apartmenst priced round the 300k mark any upward trend in interest rates would put pressue on the rental covering the loan repayments!

Although they are cheaper schemes to be found round East wall, I personally would rather pay that extra bit for an IFSC location.
I have looked at Clarion quay myself, where quality and location can't really be beaten.

elk
Click to expand...

I think buying a 1 bed there for 300k is madness sorry for my advice been 4 years late.
 
and that was 300k 4 years ago, amazing. Castleforbes Sq is on sale at the mo for 204 I think. Amazing, 20% down ^240 mortage & you now have negative equity..
Even 204 is too high, unless it is really well built.
We have a long way to smooth out the prices in Dublin & I can see 200k for a 2 bed as being good value. However thank god for low interest rates as this does make the mortagage much more affordable. The mortgages should be run off a 20yr amortization schedule
 
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