APARTMENTS HAVE been the worst hit by the downturn in the property market. Figures from the IAVI released last week indicated that one and two-bedroom new apartment prices fell by around 18 per cent in Dublin and Leinster in 2008.
O’Malley Construction and Dorville Homes have reduced prices at their upmarket Wyckham Point scheme in Dundrum, which features its own gym and concierge service.
Prices were from €400,000 back in 2006 for the one-bed apartments. Now they are priced from €310,000, a cut of 22.5 per cent. Two-bed apartments are now priced at €410,000, down from €530,000, a drop of 23 per cent. Sherry FitzGerald New Homes and Hooke MacDonald are joint agents on this scheme.
In an interesting move Durkan Residential is now going to look after all of its own sales in-house. This weekend the developer is opening show houses at Creston Avenue, a new homes scheme on St Margaret’s Road in Finglas.
One-bedroom houses are priced from €199,000, two-bed apartments with study are for sale from €279,000 and three-bed duplex homes are priced from €309,000. When the scheme was first launched in 2006 one-bed units were priced at €270,000, 26 per cent more than today’s asking price. Three-bed duplexes were priced from €375,000, 18 per cent higher.
Brian Dwyer and Partners is selling the last 29 units at Fairview Close. Built by Ellen Construction, units at the scheme off Fairview Strand start at €274,000 for one-beds, down from €345,000. Three-bed units are from €420,000, down from €520,000. Prices include a parking space, white goods and wooden floors.
