Selling Section 23 property in Dublin - valuation question

J

jokireland

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Hi, I have a section 23 property in Ballymun town centre which I'm considering selling. My main question is what price should I be asking for it, considering there's €259,250 section 23 tax relief on it with 7.5 years left from the time I bought it? Does that make a difference on how it should be valued or not?

I have never used the Section 23 tax benefit on it and will not do so now as I don't have any other rental properties which I had planned. For various personal reasons, I'm thinking of selling the apartment now, and taking the losses. I bought it for €305,000 end of 2006 and there's 85% section 23 relief on it i.e. €259,250 section 23. It's a 1 bed and has been rented out over the 2.5 years since August '07 when I took recepit of the apartment.

Thanks for your help in advance.
 
thanks for the response, but i'm curious if the fact there's almost €260k tax relief has an impact on what the selling price should be, or if it hasn't any impact for an investor to get the benefit of €260k section 23 relief?
 
the tax relief will not make much difference especially if you end up selling to someone who is not in a position to make use of the tax relief.

In sayin that by having the tax relief you maymay find more people interested in the property etc.
 
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