It has long been a tradition at this time of year that many parents come to Galway to search for a rental property for their children. At the offices of Property Partners Maxwell Heaslip & Leonard phone and office enquiries are coming in since the start of Race Week. Fergal Leonard MIPAV, who heads up the rental agency at the office, said that this is symptomatic of what has always happened at this time of year, except this year stock has been depleted. He said rents have held firm for good quality properties in good areas and, now with a lack of new construction for the past three years, supply is being outstripped by demand.
A property currently on offer with the city agent which would be a perfect investment is in the Newcastle area, just a short walk from NUIG, the hospital, and the city centre. No 42 Hazel Park is a lovely three bed semi with an extra converted room at ground floor which could be a study or additional bedroom. This property could give a very healthy five per cent return on investment and provide a long term rental solution with undoubted long term potential for growth.
No 42 would also make a really nice first time buyer’s home with its convenient location close to schools, shops, and sports facilities. It is well laid out and the cul de sac location would be perfect with no through traffic.
This home has been priced at €197,500, which reflects the current market, and the agents expect it to appeal to owners and investors alike.
Property Partners Maxwell Heaslip and Leonard can be contacted at No 11 Francis Street, phone (091 ) 565261, or www.propertypartners.ie
