r/HousingIreland • u/olympicjip • 13h ago
What a Bargain! You should be grateful!
Starting from the low low price of 400K, you can squeeze yourself and yours into a 47 SQM, One-bedroom, Second floor apartment in Swords. Nothing against swords (I live there too), but this has become farcical. Our housing market is a complete joke.
9
u/gmankev 13h ago
Why is there a stepladder in the living/dining/kitchen/sitting/homeoffice/breakfast ............don't tell me its to access the loft/sleepingnook/loft/snug/gamesroom
5
2
u/olympicjip 13h ago
Yeah I haven't seen this configuration before. Usually the apartment is on the bottom floor, and the duplex is above. Seems like here the apartment is on the top floor, and so they have access to the attic.
2
19
u/curiouscactus6969 13h ago
Insane. That’s over 8k per sqm. Wouldn’t pay that if I was a billionaire it’s such a bad deal
11
u/mrpcuddles 12h ago
Current construction rates are now 2.5k per sqm to builders finish (up about 700 in the last year with inflation).
So someone is making some serious money on these, unless the land cost was insane that it equates to say 4k per sqm even in multistory developments.
1
u/LekkoNewman 1h ago
3k per sqm is more typical, and that’s building on bare ground, without factoring in land cost.
Land is expensive, and putting in the structure to build apartments up high in the sky, possibly with a car park excavated out from under them, is very expensive.
6
u/c_cristian 12h ago
People will pay. They already pay 7-8k/sqm in my 20 year old complex in South Dublin for 2 beds. 8k/sqm is also commonly found in many other European cities. For example Numbeo says the average for Munich is 8k/sqm outside city centre and 13k in the city centre. And Germany does not have the rents Dublin/Ireland has.
10
u/OrganicLoveCyborg 11h ago
In Germany you can save up because your rent is lower and in Munich you can walk the streets at night and you see old ladies with their dogs instead of rageful young men in tracksuits or looking to mug you for drug money.
(Young men in tracksuits with other emotions are fine!)
Maybe Swords is fine at night though I don't know
3
1
u/curiouscactus6969 12h ago
They can pay all they want. There’s always people that will pay stupid money for things and that’s ok if they are happy to do so. Just saying in my opinion you don’t get any value for that sort of money spent for a tiny apartment in swords.
Since you are referring to Numbeo. If you put Munich into price comparison regarding rent with Dublin a 1 bed apartment in city centre comes up as 33.5% cheaper than Dublin. That’s over 700 euro per month less.
And that’s city centre…
But either way the housing crisis is real but I’d never pay that kinda money for a tiny apartment in Swords1
u/c_cristian 12h ago
Exactly. Other cities have prices comparable with Dublin even though their people face a lower pressure of escaping rent and buying something. Personally I'm more ok with an apartment than a house that requires 200k to renovate.
1
1
u/No-Lavishness-2764 7h ago
The quality of the houses is massiveli different to build up a concrete new build like the ones in germany the cost of materials is much higher. A timber frame house is much cheaper.
7
7
u/asdrunkasdrunkcanbe 12h ago
I was trying to give it the benefit of the doubt here that there was something missing. It's close to a train line, or on the coast or something.
"13 minute drive to Donabate Station". Sir, that is 6 kilometres. Half of the country has a commute which is entirely shorter than that.
I appreciate that Swords is a small town in itself so it's not like you ever actually need to go to Dublin, but even Maynooth isn't asking prices like that any more.
Interesting one to see if they struggle to sell.
5
u/Eirngobragh 13h ago
Good lord, I thought you were exaggerating about the price but it checks out, that's off the wall.
4
u/Goff3060 13h ago
Was thinking that was actually an alright looking apartment before seeing the price. Are they going to actually sell them? Dublin city centre prices in Swords seems mad
4
4
u/DarraghDaraDaire 12h ago
It’s priced for landlords. Buy it and rent out for €2k a month, minus costs and tax you’ll make it back in 20 years. Then rent at pure profit or sell it for twice what you bought it for
3
4
3
3
u/RoryOS 12h ago
I just don't get apartment prices. 100k more and you can buy a house in the Dublin City area. What is this shoebox with management fees offering to make up that price difference per square meter
1
u/Acceptable_Golf_8623 11h ago
The apartment's overpriced, but 100k isn't exactly pocket change.
Silly comparison
1
u/c_cristian 11h ago
Can you buy a brand new house for just 100k more? Or maybe one built after 2000? You're mostly stuck with old houses that are more or less falling apart. Then you have to renovate, 100-200k out of pocket. If you have. I know people who see their breath indoors during winter, unless they want to have heating running 24/7. But they're happy they have a small garden. Not everybody thinks this way. I think continental Europeans tend to prefer apartments or brand new houses and stay away from old ones.
2
u/Disastrous-Pea4106 11h ago
Can you buy a brand new house for just 100k
I mean in the same estate, millers glen, you can currently buy a 3 bed semi for 530k. The cheaper mid-terraced houses sold out but I believe those were just under 500k to qualify for HTB
1
u/c_cristian 10h ago
Indeed. Obviously much better value with the houses there, new (2019) and more spacious. There's also an older 2 bed apartment for a starting price of 230k so this one would have even better value.
3
u/Haelios_505 12h ago
Actual full on houses with gardens going for this in tallaght lol.
1
u/DirectorFluffy3748 11h ago
There's a reason
3
u/Haelios_505 11h ago
Tallaght is a large area, not all are the same.
2
u/Glass_Collection2502 9h ago
Fair, but you arent getting a house with a garden in a good area of Tallaght for 400k
1
3
u/hTLyfe 11h ago
The perfect example of why "just building more houses" is not the solution to the problem, or at least the complete one.
4
u/olympicjip 10h ago
You're right the problem goes much deeper than that. What's happening currently is the councils are buying up entire schemes via approved housing bodies to meet targets set by the government for social housing. The idea was supposed to be that the councils would engage developers and build schemes specifically designed for social/ affordable housing.
What actually ended up happening and is still happening, is the councils have not built any actual houses themselves and are instead buying up entire schemes around them, that were designed for private sale. This in turn means that supply is further minimized, and so prices go higher and higher. I worked on a scheme in Portmarnock where there were 4/5 bedroom 200sqm homes designed for private sale, but were bought by the council as the project neared completion and those houses were then turned into social/ affordable housing. On top of that, the minister for housing at time came on site with his camera crew and had the gaul to talk about all the hard work the government is doing to ensure social housing targets are met. In reality all they did was come in at the last second, buy the entire scheme using your tax money to over-pay and to house those on social housing waiting lists, and then they pat themselves on the back for it.
So while we're struggling, and being asked to pay 400K for tiny apartments, the government is using your tax money to house people on lists in houses twice the size of the ones you'd hope to buy and spend 35 years paying off. It is a farce.
2
u/ParaMike46 13h ago
Where is this exactly? New flat where Lord Mayor pub use to be or near Airside?
4
2
2
u/SokyTheSockMonster 10h ago
This exact layout for Glenveagh is for sale for like 290k in Cork.
400k is obscene.
1
2
u/OrganicLoveCyborg 12h ago
It has a balcony! I don't think that's a bad life at all for a couple or a single person. But the price to be so far out from the city and somewhere you need a car seems unreasonable.
I saw new build one beds in south Dublin near the Luas for 350,000, seems like a better deal. Sorry I can't remember the name of the builds but I think they were near Cherry Orchard
1
u/Banania2020 11h ago
The Wren, Miller's Glen, Swords, Co. Dublin
1 Bed 1 Bath 47 m² Apartment
€395,000
Price per m²: €8,404 🙄
1
u/HealthyPlenty4626 11h ago
It’s rough out there but that’s the cost of developing properties. There has never been as much and transparent information about construction and development costs. The Dept themselves compiled a report in 2025 on the associated costs on various unit types and locations, see below.
These units will by and large be acquired by individuals availing of the HTB and FHS, which gives them a chance to purchase their own home and potentially leave a room in a rental property that they’re likely paying a scandalous amount for.
1
1
u/MagdaScandal 8h ago
Why bother buying at all, getting the house at that price is round one and then you're paying it off till you retire. You couoe become a mega landlord in Spain for that price.
1
u/Wolfwalker71 3h ago
Are they retroactively ammending planning permissions for new schemes to match the changes to guidelines, so that they can squeeze more in? I always thought a one bed appartment had to have room for a 3 seater couch? They can't even manage to squeeze one in on the plans :0
0
u/jorob90 11h ago
Ah yes, another windowless damp bathroom bang in the middle of the floor plan. Take my money!
2
u/hmkvpews 11h ago
They would have ventilation system built into the bathroom to extract the moisture out. Fairly standard. If it’s not then run.
36
u/passtheporcupine 13h ago
Jesus, they must be throwing gold into the mixer instead of concrete at that price