Have Prices Bottomed out in Limerick?
This week I went in search of a two-bed apartment and a larger investment property in the limerick area. I found a ground floor two-bed apartment on the edge of the city and a large house comprising of six two-bed flats and two one-bed flats close to the city center.
These were both new to the market and priced competitively at 49k and 260k respectively.
I was told interest was strong from the start and both properties have exceeded the asking price. The ground floor apartment is currently at 55k whilst the apartment complex is at sale agreed with a price tag of 285k.
At current prices both properties would have a rental yield in excess of 10 percent, making the apartment market a desirable option for investors.
So whilst two sales does not suggest that the market is booming again, it does subtly hint that we are very close to the end of falling prices in Limerick.
Jonathan works with residential and commercial buyers in the Limerick and Shannon Regions.
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