Investing in Limerick

clarecelt

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Looking at purchase of house in Limerick and wondering if anyone out there has any feedback on best areas to purchase house..

Areas of interest are Dooradoyle, Castletroy and Caherdavin due their location close to hospital and colleges respectively.

any comments on these areas from landlords...Also any areas in city center worth considering ?

Thanks
 
I would seriously wonder why you would want to purchase a house as an investment in Limerick. This is not a put down for Limerick,in my eyes it's a great city. As a landlord in both Limerick and Dublin and buying my houses in Limerick back in early 90s they certainly haven't made money for me. If you have done your homework and want to go ahead I would chose Castletroy from list above.
 
Hi Hans ,
I have set a budget of 100K (ie 75K mortgage) and dont want to creep much above that (max 120K purchase). Thus based on that I dont think I would have much opportunity in Dublin in that price range albeit I have studied the Dublin property in any great detail.
I have heard varying reports on Castletroy and some areas such as Elm Park are very run down and poor investments but not sure which estates are the ones to look at with respect to Student rental...the search goes on :)
 
Clarcelt as you say even though you could buy a house for your budget in Elm Park I would not buy a house there. Oaklawns next door a much better estate but I doubt if you could buy a house with your budget in there not many come up for sale, I would say you would be paying at least 150K for one if it did. You could go to more residential estates like Glantan, you might get a house within your budget but renting it would not be guaranteed and you would be certainly struggling paying back a mortgage with it. Houses in Limerick in your bracket never really escalated in value at any time so I would say to you if you are expecting a big return for your money - don’t bank on it. If I can be of any further help to you about housing estates in this area just ask. You could look at an apartment in city centre starting at 40K at the moment again I wouldn’t expect these to increase in price anytime soon if at all but rents are starting about 450 a month (depending where you buy) but you could do this with just a small loan.
 
Hi Clarecelt,
Have you looked at the Allsop auctions. There were a few Limerick properties in the February auction that looked good value. I grew up in Limerick, so have a good idea of the areas.

Click on the past auctions link and you will see what they sold for. The next catalog is mid-April.



Let us know how you get on!
 
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