Dublin Property News
July has seen changes made to the rules for qualifying for an exemption to the 4% rent increase cap on rental properties. So if you are a landlord and considering improving your property to qualify for this exemption you will need to either construct a permanent extension which increases floor area by 25% or considerably increases the buildings energy performance but rule does not specify exactly how many BER notches to increase by or permanently alters the internal layout and adapts it for disability or increases the number of rooms.
We are delighted to report that despite signs of the market cooling our agents have been continuing to sale agree properties at peak prices and have had the opportunity to help a number of vendors who experienced difficulty with other agencies and can confirm we have helped these clients move onto pastures new.
The rental market is continuing produce very attractive returns for investors and we feel it will for some time to come, in particular the student market is alive and well and there appears to be continued growth in the numbers attending UCD from overseas who are in need of accommodation close to the college. Picking the right tenants is a skilled job in this market but it can be a very lucrative option even for first time landlords. (link to PM)
It’s become more important than ever to present your property at it’s best when selling your home, good photography with staged rooms which does not have to be prohibitively expensive, some colour and attention to detail can make a huge difference to a room. An area most people don’t consider is the front of the house and if you are considering selling in September now is the time to put on the gardening gloves and tidy up the shrubs and look at painting exterior, first impressions do make an impression. (link to sales)
In local news the old 14 acre Irish Glass Bottle site in Goatstown has been transferred to the developer Sean Dunnes first wife, Dunne reportedly paid €18 million for the site in 2003. We see the site has been cleared getting ready for sale and it will certainly be interesting to see what type of buyer seeks to acquire site. Student accommodation is a profitable enterprise but may not be what our residents would be happy with. The last phase of The Grove developed by Durkin on the site of Our Lady’s Grove is almost sold out with one remaining 4 bed detached.
We have recently sale agreed 5 St Columbanus Avenue, Milltown, Dublin 14, 28 Beechmount Drive, Clonskeagh, Dublin 14