The address: Apt 14, Anglesea House, Ballsbridge, Dublin 4.
The property: one-bedroom second floor apartment with 49.9sq m (530sq ft) of space for €249,950. It has southerly views over gardens to AIB's Bankcentre. There is communal car-parking and the annual service charge is €1,700. The apartment is in walk-in condition.
The agent: Lisney.
The landscape: A short walk to the Dart, Ballsbridge and Sandymount villages, the location could hardly be better in terms of having easy access to the city centre, shops, restaurants and leisure facilities.
How much for an owner-occupier?A first-time buyer could get a 92 per cent mortgage, or €229,540, with AIB, leaving them requiring equity of at least €20,410. To qualify, the household income would need to be around €50,000. Over 25 years at a variable rate of 2.99 per cent, monthly repayments are €1,087.
How much for an investor?Stamp duty is €8,715. An investor could get an 85 per cent mortgage, or €212,075, with ICS (provided they are an experienced investor with three or more properties, have strong independent residual income after paying all commitments and are in a good occupation sector with income sustainability). Over 20 years at a variable rate of 4.55 per cent monthly repayments work out at €1,458 while over 25 years at the same variable rate the repayments are €1,282 a month.
Potential?The apartment would rent for around €1,000 a month, according to the agent.
Verdict: suits an owner-occupier first-time buyer. – Justin Comiskey
Calculations by Barry Sheridan, Chrome Capital, Fitzwilliam Square, Dublin 2
