Daft Property - Irish Property News

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 ave...

What Dublin buyers are really paying... What’s your house really worth? Secret house sale data for the first four months of the year shows that in some cases, houses in the Dublin area are selling for half what the owners wanted. And nearly 20 per cent of buyers are paying cash... DATA FROM the sale of almost 200 homes in the Dublin area seen by The Irish Times show that house prices in the capital have dropped by up to 52 per cent since 2007. The data relates to 192 sales conducted by one of the country’s leading estate agencies in the first four months of 2009. The properties represent a wide range of homes at virtually every level of the market and in most postal districts. The majority of the 192 homes sold had been on the market since 2008, with some properties on sale since 2007. Analysis of the sales show that homes at the lower end of the price scale have fared best, selling for between 5 and 20 per cent below asking prices. In a very small number of cases starter homes actual...

Developers are offering substantially lower prices in the hope of shifting remaining units at schemes built in the last two to three years... PRICE CUTS of up to 40 per cent are being offered by builders in an attempt to get the stalled new homes market moving again and to clear unsold units. While price reductions are bringing many new homes back to pre-2006 prices and interest rate cuts have gone a long way towards improving affordability, lack of finance and negative sentiment remain as the big hurdles for potential buyers. A raft of new homes developers are hoping to shift remaining units at developments built in the last two to three years and are pitching prices at substantially less than the original asking prices. For many builders it is not a case of making a profit any more, it’s simply making some sales to cover the cost of building and paying off some of the debt on sites. Price cuts will be most prominent in large schemes on the edge of the city where developers have stru...