Boom buyers seethe as units now three for price of one...
HOUSEHUNTERS in a busy commuter town can now get a two-bedroom apartment for just €110,000 -- a third of the original asking price.
It's a case of 'three for the price of one' at the exclusive Capella Court apartments in Newbridge, Co Kildare.
When the gated development first opened in 2007 -- buyers forked out prices starting at €322,000.
Attractive
But now they will be seething at the prospect that newcomers can buy three apartments for the money they handed over at the height of the boom.
Residents at Capella Court who bought in 2007 will be paying three times the amount in monthly mortgage repayments of their new neighbours for apartments of the same size and specifications.
The attractive price tag comes as receivers have been appointed to re-launch the apartments.
Dwellings are finished inside and lighting, footpaths and landscaping are in place. The two-bedroom apartments are set to attract investors, with average rents in the capital's commuter belt at €733, according to the latest property survey by popular website Daft.
David Browne of HT Meagher O'Reilly, who was appointed by Simon Coyle of Mazars accountants to handle the sale, said a number of units were sold at the initial launch in 2007.
Prices started at €322,000, but in April 2008 when the houses were re-launched, they dropped to €299,500.
Capella Court, which has 63 units in total, is laid out in three blocks, one of which is completely occupied. But of the remaining two towers, just four units are occupied.
Unoccupied
HT Meagher O'Reilly are releasing just 20 units in this phase, with a view to releasing the rest of the unoccupied units at a later date.
Units range in size from 65-80 sq m and come with balconies, fully fitted kitchen units, tiled floors and fitted wardrobes.
Capella Court was built by developer Hugh Heskin, who was also responsible for the upmarket conversion of the Estoria cinema in Galway into apartments; and the mixed-use Yew Tree scheme in Clane, Co Kildare, both of which sold successfully.
Report by Yvonnne Hogan - Irish Independent.
HOUSEHUNTERS in a busy commuter town can now get a two-bedroom apartment for just €110,000 -- a third of the original asking price.
It's a case of 'three for the price of one' at the exclusive Capella Court apartments in Newbridge, Co Kildare.
When the gated development first opened in 2007 -- buyers forked out prices starting at €322,000.
Attractive
But now they will be seething at the prospect that newcomers can buy three apartments for the money they handed over at the height of the boom.
Residents at Capella Court who bought in 2007 will be paying three times the amount in monthly mortgage repayments of their new neighbours for apartments of the same size and specifications.
The attractive price tag comes as receivers have been appointed to re-launch the apartments.
Dwellings are finished inside and lighting, footpaths and landscaping are in place. The two-bedroom apartments are set to attract investors, with average rents in the capital's commuter belt at €733, according to the latest property survey by popular website Daft.
David Browne of HT Meagher O'Reilly, who was appointed by Simon Coyle of Mazars accountants to handle the sale, said a number of units were sold at the initial launch in 2007.
Prices started at €322,000, but in April 2008 when the houses were re-launched, they dropped to €299,500.
Capella Court, which has 63 units in total, is laid out in three blocks, one of which is completely occupied. But of the remaining two towers, just four units are occupied.
Unoccupied
HT Meagher O'Reilly are releasing just 20 units in this phase, with a view to releasing the rest of the unoccupied units at a later date.
Units range in size from 65-80 sq m and come with balconies, fully fitted kitchen units, tiled floors and fitted wardrobes.
Capella Court was built by developer Hugh Heskin, who was also responsible for the upmarket conversion of the Estoria cinema in Galway into apartments; and the mixed-use Yew Tree scheme in Clane, Co Kildare, both of which sold successfully.
Report by Yvonnne Hogan - Irish Independent.