Cost of Site with FPP

M

Mahons

Registered User
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163
Hi,

We're currently looking at the possibility of purchasing a site just outside Swords in Co. Dublin. I though I'd put the question out there as to how much one thinks a site with full planning permission for a 3k sqft dormer bungalow should cost in todays market.

There are a number of available sites on the same plot ranging from .2 to .4 acre which are advertised at between 243k and 338k.

I have a friend who purchased a site with fpp in 2005 just 800 yards away and he paid 380k for .5 acre site, that in my mind would suggest that these sites are over priced considering how things have changed since 2005.

I feel at the lower end 120k per .1 acre is extremly over priced, even paying 84.5k per .1 acre at the upper end seem high in todays depressed market.

Regards,

Mahons
 
The thing to do is work out the going rate per acre of hectare locally, now.
You need to compare prices NOW not with 2005, as obvious as that may seem. :)
A house down the road from us was on for well over 700K last year.
Now its down to nearer 600K and no-one's buying yet.
You may see similar 15-25% falls in your local site values from say, last years prices.
If not, ask why not.

HTH

ONQ
 
Unfortunately not many sites come up for sale in the area hence the reflection on 2005 prices. I still feel it's somewhat valid as prices are suppose to be below 2005 prices if you believe the doommoongering. The sites only recently became available so we might leave it for a few months and see how much interest is shown and try to gauge what level we should enter at.

Mahons
 
>> plot ranging from .2 to .4 acre which are advertised at between 243k and 338k.

Crazy prices. How many have sold? Not many I'll bet. Offer a hell of a lot less...
 
If you are really interested--why dont you just go in with a silly offer--something very low- 150k lower, say... and see what happens? you can always withdraw...nothing is real till its signed finally.
 
You could consider what the value of the property would be after the house is built. While the cost of building per square foot has gone down somewhat it has always been the site cost that controls the final value.
 
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