Is it harder to sell a 1 bed apt?

charlie MacZ said:
I work in Ballsbridge and so have been looking around the DART line for property (Castleknock, Ashtown, Clonsilla)
Click to expand...

You mean the train line? These locations are nowhere near the DART. If you're young and work centrally, it might be worth your while considering property around Dublin 2/4. The latest phase of the Gasworks scheme for example is selling for 335,000 for a new one-bed and you could walk to work, etc. Alternatively, there is an abundance of second-hand one beds in the city centre for closer to the 300,000 mark.
 
Sorry the train line, I think its called the Arrow! Hav'nt a hope in buying a place in Dublin 4 average prices there for a 1 bed is 400000. I'm 30 now so I figure I'll hold it for mayb 3-5 years.
 
But the example I gave you of the Gasworks is 335,000, which is for a new, luxury one-bed property. Second hand one-beds in Dublin 2/4 can be purchased for around 300,000 in the current market.
 
charlie MacZ said:
As the country is now heading into recession I wonder should I wait for more than a year or buy now no one seems to know whats gonna happen...........help
Click to expand...

I'm in a similar position as you Charlie, personally I'm going to hold out a bit longer as the news of a recession is only the beginning of the downturn for Ireland. I'm going to wait a year meanwhile saving like crazy and then when things have settled and not end up forking out 340K for a 1 bed apt.
 
You could be right teckon. Ideally I would like to buy a nice size 2 bedroom and not rent it out cos I'd prefer to have the place to myself, maybe in the not too distant future 2 beds will have come down in price. and could always rent a room if i became really stuck. This thing about 1 bedrooms harder to sell has been engraved in my head for the past couple of months by word of mouth I wonder how much truth is in it at all..........
 
Had a look at the 1 bedroom apt's in the Gasworks yesterday with an estate agent.
Price: 335000;
Second floor;
51 square metres(550 square feet).
Management fees: 1250

Overall wasn't very impressed with it. Kitchen and bedroom is very small, would be suspect of the noise around the place. I asked the estate agent would the price come down he say's that it has already come down he reckons that 1 beds were selling for 390000 2-3 years ago.
 
51 sq metre 1-bed... Personally I wouldn't pay a penny over 200k for something like that.
Liam Carroll bought the original site from Bord Gais for a song a few years back so he can well afford to bring the current asking price down quite a bit further.
 
charlie MacZ said:
Had a look at the 1 bedroom apt's in the Gasworks yesterday with an estate agent.
Price: 335000;
Second floor;
51 square metres(550 square feet).
Management fees: 1250

Overall wasn't very impressed with it. Kitchen and bedroom is very small, would be suspect of the noise around the place. I asked the estate agent would the price come down he say's that it has already come down he reckons that 1 beds were selling for 390000 2-3 years ago.
Click to expand...

Or not selling, to be a little more precise.

Moreover, they are not selling at €335,000.

I wonder what the message is here?
 
In my opinion it is easier to sell one bed apts. Young people wishing to get on the property ladder tend to start at the bottom (1 bed apt) if they're single or somewhere in the middle (small house) if they're a couple. The single person only needs a one bed. If they meet someone they soon realise they need more space and a 2 bed apt would generally not provide this. They would also think ahead of children and this would lean them to a house as oppose to an apt due to safety i.e. high window, stairwell if the lift breaks etc. The only people who would live in a two bed are renters who generally wish to save on rent by sharing. While I know many single/couples have 2 bed apts I think they are regretting the decision and are trying to get to the next stage. As mentioned by someone earlier, the only reason to buy a 2/3 bed apt would be to avail of a rent a room if they decide to live there, otherwise its just investors who would be buying. The one bed would attract investors, FTB, downsizers and dont forget the divorcees who soon will become quite a large portion of the population.
 
elcato said:
As mentioned by someone earlier, the only reason to buy a 2/3 bed apt would be to avail of a rent a room if they decide to live there, otherwise its just investors who would be buying.
Click to expand...

Not quite the ONLY reason.
 
Camry said:
I wonder what the message is here?
Click to expand...

Sounds like the low price is putting potential buyers off, they think the offer is 'too good to be true'. Only solution is to raise prices?
 
You must log in or register to reply here.
Back
Top