O’Donnellan & Joyce reported this week that it has been overwhelmed by the number of investors who entered the market in recent weeks, particularly those looking for Galway city properties close to NUIG and UHG. The Government’s capital gains incentive introduced in 2013 comes to an end at the end of this year and provides for investors who purchase a property prior to the end of the year and holds it for seven years; they can then sell the property without having to pay capital gains tax. This is an incredible incentive for investors as there is no other asset that you can acquire and hold for a seven year period tax-free.
The market is turning and prices have increased, particularly in Galway city where there is a young, vibrant, population and investors are guaranteed a rental income. The following is a list of properties suitable for investors, which will be offered for sale at O’Donnellan & Joyce’s next auction which takes place in the Harbour Hotel on July 25 at 3pm.
No 69 Snipe Avenue, Newcastle: An ideally located six/seven bedroom detached residence close to NUIG and UHG, in excellent condition. AMV is €200,000. Open viewings Thursday and Saturday 3.30pm to 4.30pm.
No 4 Moyola Park, Newcastle: An attractive four bedroom semidetached residence close to NUIG and UHG (probate sale ). AMV is €220,000. Open viewings Thursday and Saturday 3.30pm to 4.30pm.
Nos 4 and 5 Newcastle Road, Newcastle: Being offered for sale individually or as one lot, each property currently comprises two, two bedroom apartments. AMV is €100,000 each. Open viewing Wednesday and Saturday 2pm to 3pm.
Apt 4 Newcastle Court, Newcastle: This three bedroom apartment would be a superb investment property, located to the rear of UHG. AMV is €150,000. Open viewings Wednesday and Saturday 2pm to 3pm.
No 2 Presentation Road, Galway city centre: A centrally located four bedroom terraced residence, AMV €250,000. Open viewing Thursday and Saturday 5pm to 6pm.
No 1 Forster Court, Forster Street: A two bedroom apartment located moments from Eyre Square, AMV €125,000. Open viewing Thursday and Saturday 11am to 12 noon.
No 19 Fairgreen, city centre: A stunning two bed apartment with views over the city and Galway Bay, AMV €150,000. Open viewings Wednesday and Saturday 12.30pm to 1.30pm.
No 88 Grattan Park, Salthill: A three bedroom semidetached home in turnkey condition just off Salthill Promenade (probate sale ). AMV is €275,000. Open viewings Thursday and Saturday 2pm to 3pm.
No 32 Aengus House, Galway Harbour: A modern four bedroom apartment just off Galway Harbour, AMV €240,000. Open viewings Wednesday and Saturday 11am to 12 noon.
No 104 Rahylin Glebe, Ballybane: A three bedroom semidetached residence located close to GMIT, AMV €70,000. Open viewing Wednesday and Saturday 3.30pm to 4.30pm.
No 4 St Joseph’s Terrace, city centre: A centrally located five bedroom terraced residence, AMV €160,000. Open viewings Wednesday and Saturday 2pm to 3pm.
No 12 Commerce Court, city centre: A stunning three bedroom apartment in the city centre, AMV €170,000. Open viewing Thursday and Saturday 5pm to 6pm.
No 166 Lurgan Park, Renmore: An excellent four bedroom semidetached residence with a separate two bed apartment, located close to GMIT. AMV is €220,000. Open viewing Wednesday and Saturday 2pm to 3pm.
O’Donnellan & Joyce will place more than 30 properties under the hammer on the July 25 auction.
For full details contact the auction team at O’Donnellan & Joyce, Mary Street, Galway, 091 564212.
