The address: Delgany Hills, Delgany, Co Wicklow.

The property: new two-bedroom apartment for €275,000. It has 77sq m (829sq ft) of space, a high-spec interior (including a McNally fitted kitchen with appliances and fitted wardrobes), a designated car-parking space and the service charge is €1,260 a year.

The agents: Sherry FitzGerald and Park Auctioneers.

The landscape: on an elevated site overlooking Delgany village, there are great views of the surrounding Wicklow countryside. The Dart at Greystones is a short drive away, as is the N11. Delgany is an upmarket area which retains a village atmosphere.

How much for an owner-occupier? A first-time buyer could get a 92 per cent mortgage, or €253,000, with AIB. To qualify, a single buyer would need an income of €52,000 or a couple would need a combined income of €55,000. Over 25 years at a variable rate of 2.99 per cent, monthly repayments work out at €1,197; at a one-year fixed rate of 3.09 per cent they are €1,212; and at a three-year fixed rate of 3.65 per cent €1,285.

How much for an investor? An investor could get an 80 per cent mortgage, or €220,000, with KBC and there would also be stamp duty of €10,500 leaving them requiring equity of at least €65,500. At a variable rate of 4.5 per cent over 20 years monthly repayments are €1,392.60 and, over 25 years, €1,223.20 a month.

Potential? The apartment would rent for about €1,000 a month, according to the agent.

Verdict: suits an owner-occupier.

Calculations by Ben Rance, Simply Money

– Justin Comiskey