Whats the rental market in Lucan like

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Privinv

Guest
Hi

I am considering buying a Section 23 apartment in Lucan, at around €300k it is not cheap. I would appreciate any feedback on how strong is the rental demand in the area and types of rents being achieved.

Any feedback on the best value S23 apts in Dublin, also greatly appreciated.
Thanks
 
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terrysgirl33

Guest
The market is soft, there are a lot of properties and rooms for rent in the Lucan area. I sell Avon, and that's the impression I get from talking to renters in the area. We also rent out two rooms in our own house, and last March, after advertising in Daft.ie and the Evening Herald for three days, we had exactly one person interested (he turned out to be fine, but we had no choice).
 
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EAMONN66

Guest
a cautionary tale

a couple of years ago an estate was built between palmerstown and ballyfermot called whitethorn and sold as palmerstown d.20

there was a lot of hassle and solicitors letters going in all directions when an post started writing clondalkin on peoples post and crossing out palmerstown. in the end a compromise was reached and the place is now called whitethorn palmerstown d.22

the point im making here is,

are you sure the apartment is actually in lucan.
according to finfacts.ie the s.23 areas in dublin are

Balbriggan, North West Blanchardstown,Dun Laoghaire, North Clondalkin,Tallaght.
lucan is not mentioned and frankly i would be very surprised if it was .

sounds like the development is actually in (the dodgy part of)clondalkin and if so seems quite dear.
 
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Murt10

Guest
A new village/town Adamstown is just about to be built next to Lucan which itself is begining to turn into one big carpark at peak times.

www.iol.ie/~geof/thefig.htm

With such a huge increase in the supply of new houses and appts in an area the only way that I can see rents going is down.

(BTW to show just how accurate I have been at predicting the property market I have been waiting on the property bubble to burst since 1996, in the end I'll be right)


Murt
 
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MandaC

Guest
S23 Apartments

If the apartments are the ones advertised as Rowlagh Centre, I read about them in the paper and noted it did not have a postal code. (I knew why too) If it is these they are in the neilstown area beside Finches Pub, which would not be a very nice area.

If you have the address, post it here and perhaps somebody who knows the area might tell you what its like for rents.

These are the only ones I have seen that could be classified really as North Clondalkin that the builders might try and pass off as "Lucan".
 
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Privinv

Guest
Hi
Many thanks for replies. The address is Rosse Court, Lucan. It is being sold by Douglas, Newman,Good
 
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EAMONN66

Guest
does anyone know where these are situated. myhome or dng dont give much away. my earlier post about no s.23 in lucan is still correct afaik.
 
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purple

Guest
If you are buying the S23 property to minimize your liability on other apartments then it is a slightly more attractive purchase.
There has been much talk on AAM and elsewhere about the vulnerability of suburban apartments to a property crash (or readjustment). When the market is soft location again becomes the real price safety net, for this reason I would be very wary about buying any apartment outside the city center in Dublin (or howth/Dalkey etc).
 
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MandaC

Guest
Rosse Court

As far as I know, these are across the road from Earlsfort, near Foxborough across the road from the Balgaddy Church.

That is why the address is advertised as Lucan, but yet Lucan is not a S.23 designated area. The actual address would be D.22 and they would qualify under the S.23 relief as North Clondalkin.
 
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EAMONN66

Guest
Re: Rosse Court

is this blatantly false advertising not illegal . if not it really should be.
 
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rainyday

Guest
Re: Rosse Court

What specifically in their adverts was false?
 
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MandaC

Guest
Lucan Rental Market

If, as Eamon66 states that Lucan is not a Section 23 designated area and the developers know this and are getting the scheme passed by the Revenue Commissoners under the North Clondalkin banner, then surely it is false to knowingly advertise the address as Rosse Court, Lucan.

It might be interesting to phone DNG and just enquire that Lucan does not seem to be on the list of Section 23 designated areas and see what they say.

It is where I thought it was, I passed it on my way home from work this evening and to say it is not in a nice area is a bit of an understatement. Furthermore, there are millions of them, given that the real Lucan market is already saturated, the North Clondalkin Lucan market will prove impossible to achieve a decent rent. I reckon most of them will be let out to the EHB.

I know developers have indeed tried this trick in the past playing with address codes, people buying in Foxborough fell victim to this when their post arrived with a D22 posmark instead of a Co. Dublin postmark and so did Whitethorn.

What appears to be worse in this case is that the developer is claiming for the address to be North Clondalkin for the Revenue Commissioners and Lucan for the purchasers. Big price difference between North Clondalkin and Lucan. Developer getting best of both worlds, north clondalkin tax break and lucan selling prices.

I also know that it is not illegal, as the sales brochures are not legally binding. I did note on the advertising board that it said Lucan and they did not specify Lucan, Co. Dublin or Lucan South, Dublin 22, so if pushed they would tell you that the full address is Lucan South, Dublin 22. I am sure DNG would classify it as clever marketing rather then false advertising.

I personally think this type of thing should be made illegal and that brochures should legally have to list the full postal address so people can see exactly where they are buying.
 
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rainyday

Guest
Re: Lucan Rental Market

Where did they advertise it (i.e. in what media) as Lucan?
 
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terrysgirl33

Guest
Lucan appartments

If you do a google search on 'Rosse court Lucan' you will come across the sales bumf from DNG. They clearly state the appartments are in Lucan. To be honest, the site is right beside the church and national school for Lucan South parish, and would definitely be in Lucan, but it's across the road from Ronanstown, and it's not a great area. The other problem is that if a lot of the appartments are owned by investors and rented out (as is the case with the houses in Foxborough behind the appartments) then there seems to be less care taken of the surroundings and the value tends to stay low. FWIW
 
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MandaC

Guest
If the address is Lucan and not covered by S.23, how are they getting the tax break then?

Has anyone found out if Lucan is definitely covered by Section 23 or not.

To me, having I would class that area as north clondalkin. The actual townland is Balgaddy. I know the Lucan South thing was something to compomise the residents of Foxborough when their post arrived with a Dublin 22(Clondalkin) postmark, and while it may be a parish, I dont think it is an address code.

If it is in Dublin 22 it is Clondalkin, if it is in Lucan, it is County Dublin. I wonder what the actual address is for these.
 
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rainyday

Guest
If you do a google search on 'Rosse court Lucan' you will come across the sales bumf from DNG. They clearly state the appartments are in Lucan.
Web adverts (or content on websites) do not come under the auspices of the Advertising Standards Authority, so I don't see who you can complain to about the alleged false advertising. Maybe try the professional body of the auctioneers (possibly the IAVI).
 
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EAMONN66

Guest
rainyday, do you think these were only advertised on the web. a quick google brings up referances to advertorials in a couple of property supplements. In any case the ASAI website does not specifically exclude web adverts or any specific form of advertising.

as this particular con has a direct negative impact on innocent people, most of whom are making the biggest financial decision of their lives, personally i find it a far more serious matter than a lot of the minor (relatively-)victimless tax evasion issues you have so been so vocal about in the past.
 
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rainyday

Guest
Hi Eamonn - Back off. I didn't make any judgement or comment about whether this was a serious matter or not. I simply informed the poster that the ASAI don't cover website contents. I also provided the poster with an alternative channel for their complaint, a channel which could result in a serious professional sanction, whereas the ASAI's only power is to name-and-shame.

The ASAI website is quite clear on what they cover and don't cover. In fact, I was wrong about web adverts - they do cover web adverts, but not web content - See ASAI Scope & Coverage. They don't cover advertorial either, only paid-for advertisments.
 
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Privinv

Guest
Hi

Thanks for the replies. This place was advertised in the Sunday Business Post last October - hyped as great location in Lucan with fantastic letting potential etc etc. I shan't be buying definitely. And yes the promoters should not be allowed to mislead the public, I don't live in Dublin and so do not know the area.
Again appreciate the info. given.
 
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