Investment apartment in Finglas vs House in Clifden

M

marymee

Guest
We own an investment apartment in Finglas for the last 3 years. It is now worth 280,000 - bought for 225,000. We were going to sell it and buy a 4 bed house in Clifden town (280,000) for a mix of holiday lets and some longer term winter lets.

The purchase has been delayed on Clifden and it is making me consider which is the best long term investment.

On the one hand I am afraid the apartment in Finglas might be peaking in value now. It could come under rental income pressure from the hundreds (thousands!) of new units being built in the area and also on resale value if interest rates were to have an impact.

On the other, short term letting is more hassle increases in value will not be as strong as in Dublin etc. but it will be a house which should hold it's value better than an apartment?

Any advice??
 
Hi there...Where in Finglas is the apartment? Given the proximity to the city I'd say Finglas has a bit more left in terms of increases in value. I live at Premier Square and see a 2 bed went sale agreed for 370,000 last week...
I guess it depends on whether you also think that you might get your own use out of the Clifden house...Then it might be a lifestyle decision that you probably wouldn't regret...I must admit though that the short term letting hassle would slightly put me off..but then again..I can't imagine you'd be dropping out to the Finglas apartment for a weeks holiday in the summer....;)
 
The apartment is in Heath Sqare - just up from Superquin on McKee Ave so very central.
My worry is mainly around the scale of apartment developments in the area in general and what effect this will have on owners of these in the future.
 
Huge regeneration planned for that area. You may already be aware but if not check out:

www.dublincity.ie/.../ Final%20Finglas%20Regeneration%20Strategy%20(Published%20Version)%20(2)_tcm35-9274.pdf

There are lots of posts here and opinions on the ongoing price of Irish property at present and in the future...These might help you...
 
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