Property Market 2018

M.Cribben

Zenify wrote: »

Does anyone have any official stats about the amount of houses going for sale this year compared to last?

I get myhome alerts and they are going nuts the last few weeks.

Don't have any exact figures but transaction volume usually peaks during these summer months.

The_Conductor

myshirt wrote: »

There is a lot of stock in the bucket of a 7 year CGT exemption. You will see this stock starting to come to market now. Unfortunately I can't see it having a massive impact.

This stock has been coming to the market for some time.
I honestly don't think the numbers involved are what you or others imagine them to be- and indeed, the locations of many of these units are not ideal either (the exemptions are what were used to sell them).

kaymin

Bob24 wrote: »

I’m not sure what you mean. Google would operate as any other landlord and it should make no difference to employees in terms of taxes compared to renting from another landorld.

(if you mean rent would be paid directly through google’s payroll, I doubt they would do that)

I expect he means Google will house certain employees given the accommodation shortage but those employees will pay tax on the BIK equal to the going market rent rate.

The_Conductor

kaymin wrote: »

I expect he means Google will house certain employees given the accommodation shortage but those employees will pay tax on the BIK equal to the going market rent rate.

Exactly- they verbally said this numerous times.
They are on the record expressing concerns at how this would be taxed- and are party to the statement by the American Chamber of Commerce- concerning extreme issues with paying Irish based staff, given the exceptionally onerous taxation regime for workers here.

We have Nordic tax rates- without any entitlements for workers (such as free or heavily subsidised childcare etc that are the norm in Nordic countries). Our social welfare system is designed to protect the worst off in society- without any cognisance of who has to pay for it all...........

kaymin

kaymin wrote: »

I expect he means Google will house certain employees given the accommodation shortage but those employees will pay tax on the BIK equal to the going market rent rate.

The BIK on a €3k/month apartment would be €1500 ish...... decent enough really all considered.

Worker gets half price accommodation, exchequer gets a lash of tax income and google be happy too.

Cuddlesworth

Augeo wrote: »

The BIK on a €3k/month apartment would be €1500 ish...... decent enough really all considered.

Worker gets half price accommodation, exchequer gets a lash of tax income and google be happy too.

Google be happy they had to pump up capital for property purchases so they can house employees?

Cuddlesworth

Cuddlesworth wrote: »

Google be happy they had to pump up capital for property purchases so they can house employees?

I'd imagine overall they are very happy with the Irish operations. They don't have to purchase property..... they seemingly have made a choice.

They'll quite likely make a decent return from their investment in property too, all considered.

I imagine it'll be short term stays rather than long-term accommodation anyway do BIK quite likely not applicable and google won't be renting hotel space etc.

Years ago a company gave me 6 weeks in the citywest as part of a relocation package, I think google will do similar

Cuddlesworth

Augeo wrote: »

I'd imagine overall they are very happy with the Irish operations. They don't have to purchase property..... they seemingly have made a choice.

They'll quite likely make a decent return from their investment in property too, all considered.

I imagine it'll be short term stays rather than long-term accommodation anyway do BIK quite likely not applicable and google won't be renting hotel space etc.

Years ago a company gave me 6 weeks in the citywest as part of a relocation package, I think google will do similar

They don't have a choice, they can't get high level employees in because the logistics of moving here from abroad are near impossible due to the housing market.

Define a high level employee.

Cyrus

Cuddlesworth wrote: »

They don't have a choice, they can't get high level employees in because the logistics of moving here from abroad are near impossible due to the housing market.

yeah id like to hear a bit more about this, you think its any worse here than it is near mountain view?

AlmightyCushion

Any news story's that mention it say they are renting them out and they all are identical word for word so probably came from a press release. I haven't seen anything to suggest that Google are going to keep them just for their own staff so why are people assuming this is the case? They might keep some for housing staff here short term (e.g. put someone new to the Dublin up for a month or so until they find their feet or people coming from other sites for short term projects) but for housing staff long term, it has plenty of negatives. I can see why they might want to avoid doing that and just let them on the open market.

AlmightyCushion

AlmightyCushion wrote: »

Any news story's that mention it say they are renting them out and they all are identical word for word so probably came from a press release. I haven't seen anything to suggest that Google are going to keep them just for their own staff so why are people assuming this is the case?...............

Suits their narrative

Cuddlesworth

Cyrus wrote: »

yeah id like to hear a bit more about this, you think its any worse here than it is near mountain view?

You trying to strawman by comparing Dublin to Silicon Valley?
An area whose GDP dwarfs that of our entire country. Keeping in mind too, that a lot of employers and employees are no interested in hiring within the Valley due to the costs. The 5 fortune 50 multinationals I am involved with are also actively cutting non-exec positions in the area or offering relocation packages.

Cyrus

Cuddlesworth wrote: »

You trying to strawman by comparing Dublin to Silicon Valley?
An area whose GDP dwarfs that of our entire country. Keeping in mind too, that a lot of employers and employees are no interested in hiring within the Valley due to the costs. The 5 fortune 50 multinationals I am involved with are also actively cutting non-exec positions in the area or offering relocation packages.

i'm asking you to give some context around your broad statement because it sounds like nonsense to me, carry on.

How many high level employee vacancies are currently open at google ?

Cuddlesworth

Augeo wrote: »

How many high level employee vacancies are currently open at google ?

The ones they advertise for or the ones they head hunt for? Because I know for the other multinational companies I work for, if they want a VP or above, they find them and offer them positions.

As for the high level question, anybody 150k+ a year at the lowest. Department VP's, or very specialised technical people, usually industry leaders in specific fields.

draiochtanois

This post has been deleted.

Cyrus

Cuddlesworth wrote: »

The ones they advertise for or the ones they head hunt for? Because I know for the other multinational companies I work for, if they want a VP or above, they find them and offer them positions.

As for the high level question, anybody 150k+ a year at the lowest. Department VP's, or very specialised technical people, usually industry leaders in specific fields.

so you are asserting that people on min €150k a year, and probably more like €200k+ all in cannot be attracted to ireland because of the housing market?

i just dont think thats credible, people who earn these kind of wages will be living in cities already, most of which make dublin look reasonably priced.

zom

Augeo wrote: »

How many high level employee vacancies are currently open at google ?

There must be some new open vacancies after about a dozen Google employees reportedly left the company over its insistence on developing AI for the US military through a program called Project Maven.:

https://thenextweb.com/artificial-intelligence/2018/05/15/google-employees-quit-over-the-companys-military-ai-project/

Google don't mind about "being evil" any-more:

https://www.telegraph.co.uk/technology/2018/05/21/google-removes-dont-evil-code-conduct/

ClubDead

Anyone who's being looking for a long time....gone through several bidding wars got any tips to stay motivated? I'm totally burnt out by this process. Emotionally wreaked (1st world problems I know ) and don't want to see another house but have to. How did you stay positive?

barneygumble99

ClubDead wrote: »

Anyone who's being looking for a long time....gone through several bidding wars got any tips to stay motivated? I'm totally burnt out by this process. Emotionally wreaked (1st world problems I know ) and don't want to see another house but have to. How did you stay positive?[/quote

Spent the last 4 years looking and eventually a nice house came up. Good value for money. Put in a bid 25k below asking and it was accepted. All happened within a week. Missed out on nice houses along the way. Was screwed over by EA’s twice and generally couldn’t find a house that ticked 80% of the boxes.

Cuddlesworth

draiochtanois wrote: »

This post has been deleted.

https://www.siliconvalley.com/2017/02/10/heres-how-big-californias-economy-really-is/

This puts the bay area around 425B, at a quarter of the size.

draiochtanois wrote: »

All key companies in Silicon Valley are actively hiring Software Engineers

They are not going to locate Tier 1 technical support staff there but more and more neither are they located in Ireland.

And the few people who take those jobs commute 2-3 hours each way. Most take up positions elsewhere in the US willingly.

draiochtanois wrote: »

This post has been deleted.

Its a strawman argument to compare the birthplace of modern tech in one of the most successful and expensive places on earth to a small capital on the outskirts of Europe used mainly for tax avoidance.

draiochtanois wrote: »

This post has been deleted.

I'm not interested in handing out personal information on the internet. The nature of my job means my only real employers in Ireland are multi-nationals, the same for the majority of people I work or have worked with. I have seen first hand the difficulty's in hiring for VP positions in Ireland within my industry and because of that, the number of jobs available to me is shrinking.


I'm sorry if I ruffled a few feathers, but I don't need to provide proof that short term accommodation is basically non-exisitant. Or that the cost of living increases in Dublin are being driven solely by our housing issues. Thats all this sub and our newspapers talk about right now.

And if you need a specific skillset that cannot be filled from within Ireland right now, its near impossible to provide accommodation for staff when they move over. Even in the high end corporate part of our market.

ClubDead

barneygumble99 wrote: »

ClubDead wrote: »

Anyone who's being looking for a long time....gone through several bidding wars got any tips to stay motivated? I'm totally burnt out by this process. Emotionally wreaked (1st world problems I know ) and don't want to see another house but have to. How did you stay positive?[/quote

Spent the last 4 years looking and eventually a nice house came up. Good value for money. Put in a bid 25k below asking and it was accepted. All happened within a week. Missed out on nice houses along the way. Was screwed over by EA’s twice and generally couldn’t find a house that ticked 80% of the boxes.

That's great after 4 years! Do you mind me asking, how did EAs screw you over?

Cuddlesworth

Cuddlesworth wrote: »

They don't have a choice, they can't get high level employees in because the logistics of moving here from abroad are near impossible due to the housing market.

Cuddlesworth wrote: »

............

As for the high level question, anybody 150k+ a year at the lowest. Department VP's, or very specialised technical people, usually industry leaders in specific fields.

I'm sure folks on €150k+ can manage away quite nicely in Dublin tbh.

Cyrus

Cuddlesworth wrote: »

https://www.siliconvalley.com/2017/02/10/heres-how-big-californias-economy-really-is/

This puts the bay area around 425B, at a quarter of the size.



And the few people who take those jobs commute 2-3 hours each way. Most take up positions elsewhere in the US willingly.



Its a strawman argument to compare the birthplace of modern tech in one of the most successful and expensive places on earth to a small capital on the outskirts of Europe used mainly for tax avoidance.



I'm not interested in handing out personal information on the internet. The nature of my job means my only real employers in Ireland are multi-nationals, the same for the majority of people I work or have worked with. I have seen first hand the difficulty's in hiring for VP positions in Ireland within my industry and because of that, the number of jobs available to me is shrinking.


I'm sorry if I ruffled a few feathers, but I don't need to provide proof that short term accommodation is basically non-exisitant. Or that the cost of living increases in Dublin are being driven solely by our housing issues. Thats all this sub and our newspapers talk about right now.

And if you need a specific skillset that cannot be filled from within Ireland right now, its near impossible to provide accommodation for staff when they move over. Even in the high end corporate part of our market.

There are loads of properties available between 2.5k and 4k a month, 100s of them in desirable parts of dublin. There may be other factors preventing the relocation of highly paid people to ireland but suitable accomodation isnt going to be one at that end of the market

Franz Von Peppercorn

Cuddlesworth wrote: »

You trying to strawman by comparing Dublin to Silicon Valley?
An area whose GDP dwarfs that of our entire country. Keeping in mind too, that a lot of employers and employees are no interested in hiring within the Valley due to the costs. The 5 fortune 50 multinationals I am involved with are also actively cutting non-exec positions in the area or offering relocation packages.

Comparing Dublin to Silicon Valley isn’t a strawman even if incorrect. That’s not what a strawman is.

Google will have problems housing high level staff in Silicon Valley and here. In fact there and here they are part of the problem.

Which isn’t to say the government should not take the finger out.

Topgear on Dave

Augeo wrote: »

I'm sure folks on €150k+ can manage away quite nicely in Dublin tbh.

Any specialist or manager thats worth 150k a year and willing to work internationally is probably going to have lots of options other than this pricey, rainy and slightly remote island.

Topgear on Dave

Topgear on Dave wrote: »

Any specialist or manager thats worth 150k a year and willing to work internationally is probably going to have lots of options other than this pricey, rainy and slightly remote island.

Cheap housing wouldn't make much of a difference so

whatever76

ClubDead wrote: »

Anyone who's being looking for a long time....gone through several bidding wars got any tips to stay motivated? I'm totally burnt out by this process. Emotionally wreaked (1st world problems I know ) and don't want to see another house but have to. How did you stay positive?

Be interested in this as well as glad am not only one as was thinking it was something I was dong wrong . I am worn out from it and currently bidding on 2 houses that already over asking so reckon will loose out as well as I hit my limit ! if I hear anymore - the house for you wont pass you ...:D ! that supposedly is to keep you motivated !! :P

ClubDead

whatever76 wrote: »

Be interested in this as well as glad am not only one as was thinking it was something I was dong wrong . I am worn out from it and currently bidding on 2 houses that already over asking so reckon will loose out as well as I hit my limit ! if I hear anymore - the house for you wont pass you ...:D ! that supposedly is to keep you motivated !! :P

Heard that a lot to....If its meant to be you will get it We have to decide if we're walking away from our dream house today....Its 60k over the asking price, we can still afford to go higher but its already wwwayyyyy over priced. Feel sick, $hitty day, just want to take a break from it but this is the time of year apparently for buying/selling so can't. How long have you been looking?