Mount St Annes selling out fast

adm1

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Apartment launched today - have to say its a lovely development. We had a look at them today. All the two beds are already gone and they are taking cancelations. I can't believe it.
 
Re: Mount St Annes, Milltown, Dublin 6

Nice prices too for a 2 bed (€750,000) and 1 beds from €505,000! I seen they have some 2 bed penthouses for sale also, are they much more expensive?
 
Re: Mount St Annes, Milltown, Dublin 6

i don't know how much the penthouses where - the two bed started at 715. but they were all gone, the agent had a cancellation list. There are some other second hand 2 beds for sale in the development. They seem to be in a better location towards the back of the estate so might be worth a look as the new ones are pretty much on the main road.

So much for the market slowing down!
 
The latest release is a bit of a joke. The prices are lunatic for what is on offer. Clearly the developers are rushing these to market to mop up the cash before things take a downturn. And as many are queueing up to buy, I don't blame them.

Any decent 2 bed (other than ground floor etc.) is €800k+. Add on €50k for a few parking spaces (in Milltown!), and you're at €850k. Anyone buying that off you in the future would have to add on 9% stamp duty. So before you've even made a cent, someone is having to pay you about €950k for what is a standard enough 2 bed apartment. For you to make a return you would need to be selling the said same 2 bed for more than €1m. And let's not beat around the bush - these apartments are nothing special. Nice location, sure. But actual living space - very standard kit-out and fittings for a new apartment. The building itself looks plain. Just an ignorant blocks of buildings. No interesting design or features whatever. It's very disappointing Park developments couldn't put some creativity into the thing, such a landmark building of some sort that such a development demanded. No no.. pack em in. It doesn't even look onto the nice park/fountains the original scheme did. Some of it looks onto a school - oops, don't expect quietness during the day then. To expect someone to pay >€1m for all that to take it off your hands.....well...you must be joking, or crazy. This will seen to be the last of the crazy-prices-height-of-the-bubble schemes.

Penthouses started at €1.05m. But most are €1.2m+. However, they're not really penthouses. They are small (yes smaller than the standard 2 beds!) 2 bed apartments squashed onto the top floor. The 'balcony' is a thin strip of a thing you couldn't even put a chair out on. €1.2m and I can't sit out. Ouch! The 3-bed 'penthouse' had 3 tiny bedrooms (again smaller than the 1 bed or 2 bed bedrooms...????) but...wait for it... a tiny strip running right around the apartment. So you have close to 180% views...but while you're standing!! A snip at €1.5m (parking extra). There are about 15 or so 'penthouses'. That will give you an idea of how 'exclusive' and 'private' they are. Your penthouse neighbour can hear you breath, and hang on your every word and indeed if they crane their neck look at you as you sit....sorry...stand on your 'balcony'. The only decent one with the sort of outdoor space and privacy that defines 'penthouse' is €1.8m - sold by the developer to their 'private clients' before the public could have a chance.

My advice. Avoid. But please go and see them to make up your own mind.
 
I actually lived "rented" in the original develpment. Have to say i really liked living there. The location is excellent, and I really liked the apartments, but i agree they are very expensive.
 
I agree with everything you say Roland. Yes, the location is great but that price for parking is ridiculous. I'm sure one of the major selling points for location is the Luas but I'm sure that they won't point out that you haven't a hope of getting on it in the morning at that point as it's almost always full by Dundrum...

When I saw the prices I thought it was ridiculous, and over the past few years I've always thought that with new developments, however this time I can't believe people are paying those prices as it's not just speculation any more - the market HAS slowed down, interest rates have gone up etc. and the points you make are so relevant about the re-sale. Unbelievable.