Worth the investment?

The address: 10 The Elms, Grove House, Milltown Road, Dublin 6.

The agent: Druker Fanning and Partners and Lisney

The property: A two-bed penthouse for €995,000 which represents a cost of €7,370 per sq metre.

The look: Very distinctive. Think Costa del Milltown. Built in the late 70s by Sheelan Homes, apartments tend to be more spacious than more recently-built apartments.

The landscape: the Ranelagh end of the Milltown Road .

The features: Described in the estate agent's blurb as an "executive" penthouse, this 135sq m (1,450sq ft) property has a large balcony with flower troughs and lighting and a kitchen with a breakfast counter and fitted units.

The lounge has full-length windows, a diningroom and a spiral staircase to the main bedroom with an en suite with smoked mirrored walls. Both bedrooms have built-in wardrobes. A mezzanine area could be used as a study. Secure parking. The management fee is €2,250 per annum.

How much for an investor: On an 85 per cent mortgage over 25 years at a standard variable buy-to-let rate of 4.27 per cent APR, the repayments would be €4,550 per month.

With an interest-only loan based on the same rate, the monthly repayments would be €2,960 per month .

How much: A 100 per cent mortgage at AIB's one-year discounted tracker rate of 3.86 per cent APR over 35 years, the repayments would be €4,020 per month .

At 92 per cent, at an AIB oneyear discounted tracker rate of 3.86 per cent, the repayments would be €3,698.

Potential: The apartment could fetch a rent of around €2,500 per month .

Verdict: Popular and well established development with a high owner occupier ratio. Investors might be scared off by the stiff monthly repayments. Even the interest-only repayments on an 85 per cent mortgage exceed the rental return.

Calculations by AIB mortgages