Buyers of The Gasworks apartments and houses in Dublin 4 are being offered the option of a mortgage from Ulster Bank and that applies for both investors and owner occupiers.
One bedroom apartments are now priced between €155,000 and €199,000. This represents a reduction of 67pc from the peak price of €475,000 including parking.
Two bedroom apartments of 70 sq m are priced at €270,000, a 65pc reduction from the peak of €765,000. Three bedroom apartments and penthouses, sized between 95 and 115 sqm range in price between €325,000 and €385,000 compared to a €975,000 peak price. The three bedroom houses of 105 sq m range in price between €350,000 and €370,000 and these cost as much €950,000 at peak.
In all 20 apartments and penthouses as well as six houses will be available for sale. While all of the houses and eight of the apartments will be sold with vacant possession, 12 of the apartments are being sold with tenants. Based on the rents currently achieved and these prices the yields can vary between 4.8pc for two bedroom apartments up to 6.7pc for a one bedroom unit.
Agent Andrew Long of HT Meagher O'Reilly says that they are not charging any premium for tenanted apartments. Furthermore the stamp duty for investors has been cut from 9pc to only 1pc following the last Budget.
HT Meagher O'Reilly New Homes 01 6342478