A
There is a glut of rental properties in Cavan Town at the moment - A friend has rented his new three bed house for €500.I know of others who are just unable to rent their houses. Property prices seem to be pretty static.My friend spoke to EA about selling and was advised he is unlikely to get much more than he paid for it in September 2005.As you know prices are very reasonable but this is because of the supply outstripping demand.In terms of the rent covering repayments you must have contributed a substantial amount from your own funds even if you are on an interest only mortgage.
Isn't there a plan to decentralise civil service posts there in the near future? If so, sounds like a good investment.
you can buy a 3 bed semi walking distance from town for 215. Seems like better value. Madilla is correct . Glut and i mean glut of properties to let there. I am aware of many ppl who bought houses there never even furnished them. they just let them sit and have never rented them. When these are sold or rented it will further add to problems. Rents of 550-600 for a 3 bed are probably average there and im not sure how that covers a mortgage to be honest .!
Risk in this from an investor point of view is that (a) it is not attracting support among Civil Service staff, and (b) any change of government might result in a watering down or even a reversal of the policy.Isn't there a plan to decentralise civil service posts there in the near future? If so, sounds like a good investment.
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