A buy-to-let in Galway-good investment?
- Thread starter MBoyle
- Start date
Re: A buy-to-let?Hassle or worth it?
The question is meaningless without more details. Any investment is only worth the "hassle" if it matches the investment needs/targets of the particular individual. With few exceptions there are no "good" or "bad" investments - just investments that match different individuals' requirements.
The question is meaningless without more details. Any investment is only worth the "hassle" if it matches the investment needs/targets of the particular individual. With few exceptions there are no "good" or "bad" investments - just investments that match different individuals' requirements.
Hi,
Not sure where you can get a decent 4 bed semi in Galway for that price !
For what it's worth I know a few people with investment properties that have had to reduce rent in the last yr, or have a house for 4 with only 2 paying tenants. One owner has reduced his rent 3 times in last 2yrs.
Hate to be doom & gloom but from one living in Galway I wouldn't invest here at the moment. City centre places will always rent but you wouldn't get city centre for those prices. Mind me asking which area you're talking about ?
Not sure where you can get a decent 4 bed semi in Galway for that price !
For what it's worth I know a few people with investment properties that have had to reduce rent in the last yr, or have a house for 4 with only 2 paying tenants. One owner has reduced his rent 3 times in last 2yrs.
Hate to be doom & gloom but from one living in Galway I wouldn't invest here at the moment. City centre places will always rent but you wouldn't get city centre for those prices. Mind me asking which area you're talking about ?
I was looking at the Ballybrit/Ballybane area. I went to see a pretty decent 4-bed semi in Ballybrit last week which was on the market for 320K, and had an offer of 300K. I thought this might be a good area with the IT and Indusrial Estates?
Is the property to let market saturated in Galway - i.e. is it easier to rent a house than rent one? And are the house prices going to continue rising in Galway do you think? There was a time when the house prices in Galway were more than anywhere else in the country - including Dublin! Could that happen again?
Is the property to let market saturated in Galway - i.e. is it easier to rent a house than rent one? And are the house prices going to continue rising in Galway do you think? There was a time when the house prices in Galway were more than anywhere else in the country - including Dublin! Could that happen again?
tiroileain
Registered User
- Messages
- 43
Of course, house prices can only go up...
Yes, it should happen again
soon. €320K is a steal. You won't get this chance again. Get in now before it's too late. Ballybrit is a great area, loads of amenities, great transport links into the "city" centre..tiroileain said:
Must have missed that page of the book of life.
Someone must also have forgotten to tell all those people who have been involved in "property crashes" over the years???
Not saying a drop/crash will happen today or tomorrow or in the next 10 years.... but house prices CAN (and will over a long enough time frame) go up and/or down.
Ballybane area is a no-go I'm afraid. Taxi drivers are getting very reluctant to go there at night time. Bad crash out there recently by joyriders - a taxi driver caught in the middle of it - and a body left in burnt out car ( Seemingly one of the joyriders fell asleep & they forgot about him !). Then someone stabbed next day because of the furore. Not very nice ! Ballybrit not quite as bad but if you check out local papers & estate agents you'll see house prices in that are are well below other areas of the city. There are a few places near GMIT if you're interested in the student market.
Of course they'll go up in value but if you're determined to buy in Galway have a good look at all the areas - they certainly appreciate faster.
Of course they'll go up in value but if you're determined to buy in Galway have a good look at all the areas - they certainly appreciate faster.
To answer your other question. Yes it appears to be a renters market at the moment. I work in banking. A lot of the tenants are made up of non-nationals. Judging by the amount of address changing that goes on they seem to move frequently. Money is very important to them. They send a lot of their income home & they move at the drop of a hat if they see a better deal.
Check out the websites of www.kmsgalway.com , www.odonnjoyce.com .
You'll get an idea of the values of different areas.
I'm not saying that Galway is bad for investing. Just giving you some local knowledge. If a house seems really reasonable there's generally a reason. There are lots of immigrants here plus a population of over 10k students so it's a lively market. Buy in the right place & you could do really well. Good luck whatever you decide.
Check out the websites of www.kmsgalway.com , www.odonnjoyce.com .
You'll get an idea of the values of different areas.
I'm not saying that Galway is bad for investing. Just giving you some local knowledge. If a house seems really reasonable there's generally a reason. There are lots of immigrants here plus a population of over 10k students so it's a lively market. Buy in the right place & you could do really well. Good luck whatever you decide.