Sunday 20 August 2017

'No surprise' as families told to bring €10,000 for a deposit

Neelam Saria, husband Yash and son Samay take cover from the rain at the new Grace Wood Park development in Drumcondra, north Dublin Photo: Justin Farrelly
Neelam Saria, husband Yash and son Samay take cover from the rain at the new Grace Wood Park development in Drumcondra, north Dublin Photo: Justin Farrelly

Ian Begley

Families queued in the rain with a €10,000 booking deposit to secure a new home in Drumcondra.

Hundreds of people lined up to view three-, four- and five-bedroom homes in Grace Park Wood, with properties ranging from €475,000 to €735,000.

While house hunters were reported to have queued for hours on end on Thursday, the hopefuls yesterday seemed to be moving through fairly quickly - cheque books in hand. In order to reserve a property, agents Savills not only required the €10,000 deposit by cheque or bank draft, but also proof of finance and contact details of solicitors.

Neelam Saria and her husband were just one of the many families lining up to view one of the units on offer. "We have looked at about five or six new estates around Dublin so far, but we really like this location because it's very child-friendly and the schools are very good," she told the Irish Independent.

"But the prices of homes are really high and it's very difficult to find anywhere to live at the moment. It's not surprising that we need to bring along the booking deposit since the demand for homes is so high. We have looked at a three-bedroom apartment here today and found it really nice, so hopefully it will work out."

Ronan Colm, of property developer Castlethorn, said that asking families to bring their deposit along with them on the day was a "perfectly normal" requirement.

"When people sign up to buy a home they need a deposit, so bringing it along with them on the viewing is perfectly normal.

"We wouldn't like to see people discomforting themselves by queuing for hours on end.

"I think people are just nervous and want to secure a home."

Irish Independent

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