What will the outcome be for property in ireland with no deal ?
indeed that is the question
Says one guy in the bank who's been predicting the end of the UK, recessions and a 18% drop in property prices between 2016-2018...
Honestly I have been watching this with a lot of interest as I was considering buying a property in Belfast or another major UK city. There seems to be an insurgence of youtube videos talking about the re-unification of the North of Ireland with the Republic in the wake of Brexit as they voted to stay in the EU.
Take a look at: https://www.youtube.com/watch?v=gBtuwSixYoE
In my opinion, property prices in the UK generally represent better value for money (with the exception of London of course) compared to Ireland. However, while we have a property tax they have water charges and council taxes though, which usually work out a lot more. The cost of running a property there is more.
I had heard some people say that Brexit could have up to a 10% impact on property prices here in Ireland but the story changes depending on who you listen to. There are so many opinions out there that confirmation bias is easy to achieve for whatever unfolding of events you would like to see. My plan is to watch closely and be prepared with a healthy deposit and all the paperwork in place in case there is a good deal to be had somewhere.
If Belfast joins Ireland, it'll be like Limerick. A city far away from Dublin with gang problems. Would you buy property in Limerick?
Depends, if I live there , have family there or have some reason to then perhaps.
Dublin, Carlow, limerick, sligo, cork, insert town here all have problems including gangs which you specifically mention.
Lots of people find reason to buy property in limerick, Belfast and a all other other places all the time . Your statement is pointless.
Has Mark Carney been saying this ?
Short answer is yes. Longer answer is, if the investment gave a good return and my the due diligence that I carried out on the property and the surrounding area all checked out ok, then yes.
Name a place that doesn't have social problems. I wouldn't be base any significant financial decision on people's perceptions, I'll stick to the facts and figures.
belfast has serious investment potenial if prices do tank, belfast in 10 years will be a very different place
That's true. Ensure you pick your side of the fence.
An investment doesn't need to pick a side of a fence. It simply needs to offer a good ROI.