Why are there no studio apartments in Dublin?
QMy wife and I both live in the west of Ireland. We have jobs that require us to travel on an almost weekly basis to Dublin. We have been looking to purchase a studio apartment in the city, but find that unlike London, Paris or New York, Dublin has no studio apartments. Why is this the case?
AIn case anyone doesn't know what a studio apartment is, it's essentially one room, where you cook, eat and sleep with a separate bathroom. It's not true to say that there are no studio apartments in Dublin. A quick search on www.myhome.ie shows that there are three studio apartments currently for sale - all in very central areas.
Two are in the Mespil Estate, just beside the canal, priced at €330,000 and €350,000, the other, a much larger more modern studio is in Cecilia Street right in the middle of Temple Bar and that costs €455,000.
It is true that there were not too many studios built during the apartment building boom, although many one-bedroom apartments were built that were the same (small) size as the studio apartments you'd find in the other cities you mentioned. But why are you so hung up on a studio apartment? Put a search into myhome.ie and you'll find that there are hundreds of one-bedroom apartments priced at less than those studio examples we've just given.
The price really depends on how central you want to be though it could be that being close to road, rail or airport links is more important.
A studio isn't a great investment mostly because when you come to sell it on - and who knows your work situation might change - you'll find that there is only a very small potential market for it. Most buyers would prefer a one-bedroom apartment at the very least.
Do you pay stamp duty if you swap houses?
QI read with interest in your newspaper recently about a couple in Dublin who want to swap their house for another in a different area.
It sounds like a brilliant idea and it might be the way we could move to a bigger house if we found a swapee.
Obviously it would keep the costs of moving way down but if you swap do you have to pay stamp duty?
AUsually, yes, because it's not a "swapsie" in the playground sense where you give with one hand and get with the other.
Swapping houses is really the same as a regular property buy and sell transaction.
You will be buying from them - with all the paperwork, including the stamping process that is required and vice versa. However it's a qualified yes because if you are related to the person who swaps with you then you get a break.
Stamp duty is payable at half the normal rate applicable if there is a transfer of property to certain relatives (for example, a parent, grandparent, step-parent, child, brother, sister, half-brother, half-sister, aunt, uncle, niece or nephew). This relief is not available on leases or on transactions involving cousins and/or in-laws.
Your questions
Send your queries to Property questions, The Irish Times, The Irish Times Building, 24-28 Tara Street, Dublin 2 or email propertyquestions@irish-times.ie. Unfortunately it is not possible to respond to all questions. The above is a representative sample of queries received. This column is a readers' service and is not intended to replace professional advice. No individual correspondence will be entered into.
