Is the Irish Property Market the Most Corrupt in the Developed World?

drquirky

As the pension plans of both major "broadsheet" papers are tied up in property interests; given there is zero regulation of estate agents who are empowered by the state to lie and deliberately deceive buyers; and due to the fact that 100,000's of people aren't paying their mortgage and it appears there will be ZERO consequence; is it fair to say Ireland has the most corrupt property market in the world?

Stojkovic

Ireland is a corrupt country, full stop.

L1011

No. Try Spain.

ted1

MYOB wrote: »

No. Try Spain.

Was going to suggest Spain, but there's also italy Romania Hungary etc

The far away hills aren't always greener

shar01

I wouldn't say corrupt but certainly the papers had a vested interest in maintaining the property bubble.

Certain building societies gave journalists mortgages - thus ensuring the kid glove treatment.

And all that advertising revenue! Remember when some Sunday papers had whole supplements devoted to, what are now, ghost estates.

johnnyskeleton

Estate agents are regulated, but yeah, sometimes they will put a positive spin on something - that's normal sales.

Also, there is no zero consequences for people who don't pay their mortgages. There have been repossessions, receivers appointed and there will probably be more to follow this year.

Yes it is very bad that we don't have a more functional market, but let's not exaggerate the issues.

SeanSouth

Estate agents by in large, are no angels. Ive been dealing with them for 20+ years and as long as you understand what their job is and who employs them,its not difficult to deal with them.

Estate agents are employed by the vendor to get the maximum price for the vendor. They are not your friend, they are not on your team and they will not help you to buy a cheap house. If you make an offer and the estate agent believes you have more to give,his job is to get it from you. They will lie to you, frustrate you and use all possible tactics to get the price up.

All you can do as a buyer is to decide from the outset what the property is worth to you and only bid to that level. Don't fall victim to the tactics of the estate agent. Stick to what you want to pay and what you can afford and you'll do ok.

NIMAN

Irish people in Ireland bashing shocker!

Yeah, cos every other country in the world is perfect in every way.

The_Conductor

I'm not sure where you intend to go with this thread OP- and given its potential for libeling companies and individuals, and the fact that us moderators are volunteers who are not perched on our computers 24-7, I am closing this thread. The potential for libel and consequent trouble from this sort of thread- is not worth the risk.