Northern Ireland Investment

D

dingdong

Registered User
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Hi

I have 3 investment properties in the the north - i wanted to buy another one . BOI (Dublin) have offered me to re finance them all into a one euro mortage thus 4 properties - mortage of 570,000 euro @ rate of 5.65.

The rates i am currently getting is about 5.5 - 6.5 in the north.

I am worried that this is not the best deal , also running risk of currency costs.

I am also concerned about level of yields - which i think is less than 2%, with concerns also on appreciation
 
Re: Northern Investment

I would have thought that presumably the question is whether he goes with BoI.
 
Re: Northern Investment

Are you aware that house price to income ratios in Northern Ireland are now at similar levels to Japanese ratios at the peak of the 1990s Japanese property boom?

According to this article in last Thursdays Belfast Telegraph.
[broken link removed]

NI has one of the highest house price to income ratios in the world.

Also, are you aware that the quantity of property for sale in NI has increased by 72% over the last three months? Whereas the quantity of property for sale in the Republic has increased by only 28% over the same time.


Essentially what I'm saying is, are you sure you want to purchase another "investment" property in Northern Ireland?
 
Re: Northern Investment

Things do seemed to have cooled a bit in north.

The question is where now ? with interest rates going toward 6%, and low rents it is difficult for the invester to see the return.

The rents in the south (ROI) are much superior to the north. Also demand for renting seems too be stronger. Is Dublin still a good investment, LONG TERM!! ? or should we be looking further shores.

Is ENGLAND, flat or will we see appreciation, are any of you investing in ENGLAND property
 
Re: Northern Investment

dingdong said:
Things do seemed to have cooled a bit in north.
Click to expand...
An update on just how much things have cooled in the north.

Here is an article published today in the Belfast newspaper Andersonstown News;




from article:-
The West Belfast property bubble has finally burst.
Houses that only months ago were selling for huge amounts have fallen in price by up to seven per cent.
This could mean that people who have bought properties for high prices in the past six months may have suffered significant losses on their investment.
Click to expand...
Estate agents blame a series of hikes in interest rates on causing the property bubble to burst, not only in West Belfast but also throughout the city.
Click to expand...
I should also add the quantity of residential properties/sites for sale in NI has increased by approximately 127% in the last 4 months.

Whereas the quantity of similar stock in ROI has increased by just approximately 44% over the last 4 months.
 
Re: Northern Investment

A newsclip released today from the Belfast Telegraph;

[broken link removed]

[broken link removed]
 
Re: Northern Investment

I am considering investing in NI (Belfast) commercial property, probably in retail. Does anyone know of a good overview report on the performance and/or outlook for the NI commercial property sector??

Also who are the leading commercial estate agents there?? e.g. equivalent of Lisneys in ROI say
 
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