I am looking to buy a 2 bedroom investment apartment in or near Dublin city center. What would be considered good areas and what are areas to avoid ?
Thanks
Three words followed correctly will at least set you off on the right foot,research research research.
You are off to a good start!
Smithfield,Inchicore,Phibsborough,IFSC (pricey)along the quays,Finglas,Capel st would be a very good bet.
Anywhere near to good transport links and amenities but close to the city is a good bet.
Nick is correct in every point he has made,with rentals its very much down to net yield.
Other points to consider
When you are looking at properties/apts do checks on the current property management agents.
What is their reputation like...google them.
What is the sinking fund like?
What are the annual fees?
In newer developments,the snags were not ever completed out,dragged out over the years and large sums of money are now needed to fix these snags.
Has the developer been NAMAED?
Google the particular complex you have in mind,nothing worse than tenants leaving one after the other either due to social problems or paper thin partition walls,tenants tend to post these experiences on fora.
Is there a higher % of owner occupiers (good sign)
How quickly will this rent and for how much..place a dummy ad,see what the response is like (let the phone ring out and return the call,unfair to put callers to expense)
Yield is your friend if you aren't getting a good return its simply not worth your time.10% plus
Do your sums,right down to the pound shilling and pence,factor in voids and every possible drain/cost on your finances.
Look at how future budgetary measures will impact your business,will tax relief on interest be cut further?
Will the property tax be hiked?
Best of luck with it mate.