thanks lukas, so you have first hand experience, so it appears they are much cheaper now than when first sold to investors, Im looking at one in Waterford. When you say the one in letterkenny collapsed what do you mean?did the management company go insolvent?, but you still owned the appartment so the owners could still do something else with the building?I have first hand experience of student accommodation apartments one in Limerick and also one in Letterkenny.At the asking price of 60k
i presume your location is somewhere similar.Most of the schemes were built on foot of section 50 tax breaks similar to section 23.My experience
was not good, if not for the valuable tax break they would have ended as a complete disaster.To be fair both were purchased in 2006 costing 150k.
The Limerick apartment was a pooled scheme and i never once over my ten year ownership received the promised rent.The Letterkenny unit was
a complete disaster and it did collapse.Apart from the main university locations where the demand and numbers are large i would be very reluctant
to invest.
Why can't it be sold on the 'general property market'?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?