cuckoo property

Assetbacked

Jaster Rogue wrote: »

Assuming all other economic factors remain the same, which history has proven they most probably will not.

Is cheap property the only thing people remember from the last recession?

Drinks promos in bars, happy emigrants on snapchat/Facebook in sunny Australia, cheaper supermarkets and sullen IMF suits papped walking along St Stephen's Green. Ah, happier times!

like the use of the term "vulture funds", this term tells you a lot about the person using it.

not for me trevor

riclad

Its a free market, companys bought 12 per cent of the property sold
in dublin last year ,unless the government brings in new rules
re who can buy a house ,
this trend will continue.
We are in the eu , theres also regulations re ownership and free markets
that ireland has to comply with .This is an eu matter,
if the eu want s to bring in rules to make corporations pay more tax
they can do so.
ireland attracts tech companys here because we have a low rate of corporation tax, also we speak english ,and are part of the european union.
We are in a boom now,
revenue is recieving a record amount of tax from companys and
corporations .
Theres new rental units being built ,
in dublin, these will have shared kitchens , a shared space ,like a lounge.
And then each person will have a small room with a bed , storage for clothes etc
there,ll be a space with dryers and washing machines for all the residents .
From what i read these rooms will be small ,
maybe smaller than the old bedsit,s we had in the 90,s
befor there were made illegal .
The days when councils would build 1000.s of house,s for lower income
tenant,s are over.
The government is relying of private companys to solve the housing crisis .
The height restrictions in dublin have been changed .
A company got planning permission recently for a new 20 storey to be built
near the quays .
I read this in sundays edition of move, the times property section.
Most buidings near the quays are less than 10 storeys in height ,
it was hard to get planning permission to build higher than 10 storeys outside the docklands .
The trend in london and other european citys is to build more than 20 storeys as land in the city centre area is very expensive to buy.

4ensic15

riclad wrote: »

.This is an eu matter,
if the eu want s to bring in rules to make corporations pay more tax
they can do so.

Tax is a matter for national governments and each government has a veto over tax.

maestroamado

riclad wrote: »

Its a free market, companys bought 12 per cent of the property sold
in dublin last year ,unless the government brings in new rules
re who can buy a house ,
this trend will continue.
We are in the eu , theres also regulations re ownership and free markets
that ireland has to comply with .This is an eu matter,
if the eu want s to bring in rules to make corporations pay more tax
they can do so.
ireland attracts tech companys here because we have a low rate of corporation tax, also we speak english ,and are part of the european union.
We are in a boom now,
revenue is recieving a record amount of tax from companys and
corporations .
Theres new rental units being built ,
in dublin, these will have shared kitchens , a shared space ,like a lounge.
And then each person will have a small room with a bed , storage for clothes etc
there,ll be a space with dryers and washing machines for all the residents .
From what i read these rooms will be small ,
maybe smaller than the old bedsit,s we had in the 90,s
befor there were made illegal .
The days when councils would build 1000.s of house,s for lower income
tenant,s are over.
The government is relying of private companys to solve the housing crisis .
The height restrictions in dublin have been changed .
A company got planning permission recently for a new 20 storey to be built
near the quays .
I read this in sundays edition of move, the times property section.
Most buidings near the quays are less than 10 storeys in height ,
it was hard to get planning permission to build higher than 10 storeys outside the docklands .
The trend in london and other european citys is to build more than 20 storeys as land in the city centre area is very expensive to buy.

I am thinking this is the only country where the capital city has single and two story and two story buildings within a km of the centre.
I am dead against bringing back the bedsit but who would listen to me, rules they make it up as they go along...

IAmTheReign

Assetbacked wrote: »

Current growth is unsustainable. Dublin is absolutely stretched. It would be no harm to the housing situation for demand to drop.

But you're ignoring the fact that for demand to drop the way you want it to we'd be looking tens of thousands of people out of work relying on welfare and tax hikes and wage decreases for anyone who still has a job.

Property was cheap during the recession yeah, but that didn't mean the average person could afford it then either.

handlemaster

this term cuckoo property doesn't run as most of these properties that are been built are been built for the rental market and more than likely would not have been built for the open sales market .

Old diesel

pwurple wrote: »

McGiver, Graham isn't too far off. The prices are clearly rising due to lack of supply. The supply of both rental units and units to buy is at a record low.

However, yes, I agree demand will largely outstrip supply for the forseeable future. The tools any government has are fairly weak to begin with, I'm dubious as to what measures they can actually take that could improve it. The (frankly bizaar) policy of the govt to repeatedly penalise the service providers by stripping away security and stability from landlords by effectively banning evictions even when rent is withheld, and twiddling with RPZs, tax laws etc, is adding uncertainty and that sort of sideline tinkering looks to be making it worse. They are actively hampering supply, which certainly doesn't help.

I think the only way the price (outside of a financial collapse) comes down is if someone makes a move to deliberately offer an affordable option.

Think for example Ryanair with flights back in the day. Before Michael O Leary came along flights to London could be silly money.

Edit - a big investor will plan to invest on assumptions of current rents. Would likely seek to supply at a level that preserves this.

If the amount needed to decrease prices was 80 k units - an investor may curtail new supply to say 70 k.

Deliberately never quite meet demand.

However if someone makes a deliberate decision to do more cost effective accommodation - that then puts pressure on the market - if those more affordable units are supplied in sufficient quantity

Cyrus

Old diesel wrote: »

I think the only way the price (outside of a financial collapse) comes down is if someone makes a move to deliberately offer an affordable option.

Think for example Ryanair with flights back in the day. Before Michael O Leary came along flights to London could be silly money.

Edit - a big investor will plan to invest on assumptions of current rents. Would likely seek to supply at a level that preserves this.

If the amount needed to decrease prices was 80 k units - an investor may curtail new supply to say 70 k.

Deliberately never quite meet demand.

However if someone makes a deliberate decision to do more cost effective accommodation - that then puts pressure on the market - if those more affordable units are supplied in sufficient quantity

makes you wonder why PBP and all the other groups under than umbrella dont give up on politics and instead put an organisation together with their supporters and start developing on this basis.....

overkill602

Cyrus wrote: »

makes you wonder why PBP and all the other groups under than umbrella dont give up on politics and instead put an organisation together with their supporters and start developing on this basis.....

These idiots don't do solutions are good for shouting there supporters are mainly dole lifers.

Assetbacked

IAmTheReign wrote: »

But you're ignoring the fact that for demand to drop the way you want it to we'd be looking tens of thousands of people out of work relying on welfare and tax hikes and wage decreases for anyone who still has a job.

Property was cheap during the recession yeah, but that didn't mean the average person could afford it then either.

Demand can drop by a slowdown in new jobs being created and supply picking up more of the slack. Alternatively, promote expansion outside of Dublin. Create a commercial rent tax for the institutionals. It's not about job losses.

There's been no Dart, bus and Luas upgrade or expansion the past half a decade (other than closing a twenty minute walk gap between the Luas lines). This is another reason Dublin is really struggling to cope with the massive influx of workers in that time frame. Dublin is pretty much at full employment so we don't need to create new jobs as new jobs just means the population growing more and putting further pressure on this infrastructure.

maestroamado

Assetbacked wrote: »

Demand can drop by a slowdown in new jobs being created and supply picking up more of the slack. Alternatively, promote expansion outside of Dublin. Create a commercial rent tax for the institutionals. It's not about job losses.

There's been no Dart, bus and Luas upgrade or expansion the past half a decade (other than closing a twenty minute walk gap between the Luas lines). This is another reason Dublin is really struggling to cope with the massive influx of workers in that time frame. Dublin is pretty much at full employment so we don't need to create new jobs as new jobs just means the population growing more and putting further pressure on this infrastructure.

To my mind the only solution to Dublin traffic is underground system but it will never happen as public services is sucking the tax take as we have too many and they are for the most part overpaid...

maestroamado

maestroamado wrote: »

To my mind the only solution to Dublin traffic but it will never happen as public services is sucking the tax take as we have too many and they are for the most part overpaid...

private sector geniuses who communicate in sentence fragments without seemingly making a point aint gonna solve many structural problems either imi

maestroamado

Deleted User wrote: »

private sector geniuses who communicate in sentence fragments without seemingly making a point aint gonna solve many structural problems either imi

To my mind the only solution to Dublin traffic is underground system but it will never happen as public services is sucking the tax take as we have too many and they are for the most part overpaid...



I did not do this proper first time...

Colonel Claptrap

Colonel Claptrap wrote: »

Taking bets on the next boogeyman term coined by the indo. Vulture and cuckoo just don't cut it anymore.

Scarecrow funds anybody?

How about dodo funds? Making the irish property owner extinct. That could be an angle.

Ostrich funds? Bury their head in the sand until the media storm blows over?

Golden goose funds?

My money is on woodpecker funds - those new timber framed houses are surely lucrative.

Fowl play i say.
Somebody at Indo HQ is clearly bored.

Called it.

Make way for the swallow. Caw-caaw!

Ronan Lyons: 'Forget cuckoos - building firms are swallows, bringing us closer to summer'

https://www.independent.ie/business/personal-finance/ronan-lyons-forget-cuckoos-building-firms-are-swallows-bringing-us-closer-to-summer-38104654.html

Ray Palmer

There is a solution to all the property and congestion. Get the working population into the areas that have very low occupancy rates. There are huge areas of Dublin where 3 bed houses are occupied by 1 person and some times 2.
It would reduce the need to drive solving congestion. All the facilities for raising a family are there. Some schools are closing as there aren't enough students.
It would also be cheap. Build retirement apartments in the areas so people can stay in the area if they choose. Even if it was only 25% of people it would make a massive difference.
As it stands the property in these places will get split up as 2 rentals and maybe more. It is just slower and destroys communities.
We dont really have a housing shortage it is a poor occupancy rate problem we have. Said this before, in 10 houses on the road I grew up on there are 15 people while before 50 people lived there comfortably.

maestroamado

/www.independent.ie/business/personal-finance/property-mortgages/how-state-policy-is-feathering-the-cuckoo-funds-nests-38109291.html

Just seen this now...

Topgear on Dave

We are short of apartments and short of rentals.

More unnecessary outrage from Charlie Weston and the Irish attitude of looking down on renting and renters as second class citizens.

maestroamado

Topgear on Dave wrote: »

We are short of apartments and short of rentals.

More unnecessary outrage from Charlie Weston and the Irish attitude of looking down on renting and renters as second class citizens.

Do you have no opinion of your own?
Everone's opinion valid, personally i believe in home ownership where possible.
Let the vultuers live as they please.

Topgear on Dave

This is my own opinion. I now own my own house, and do also believe in home ownership where possible too.

But I remember the indo pumping the property bandwagon back in the boom 10-15 years ago for all it was worth. It would never end, rent was "dead money" everybody had to "get on the ladder" and the "smart ballsy ones" were buying.

My friends ended up in debt to their ears.


People gave out yards on here and on social media about the "amateur landlords" and they wanted professionals. Well here they come, and they dont like that either.

So excuse my lack of faith in Charlie Weston or any of his opinions.


Iv also mentioned on here before that I think build to sell means advertising revenue to the papers and build to rent for one investor as a block does not. So I think they are influenced there too.

Colonel Claptrap

Vindication?

https://www.irishtimes.com/business/commercial-property/corporate-investors-not-the-cause-of-high-rents-report-claims-1.3949468?mode=amp

"Institutional investors or so-called “cuckoo funds” are not the prime drivers of high rents in Ireland and may be key to unlocking further housing supply and actually reducing rents, a new report by stockbroker Davy has claimed."

beauf

Not enough of them to have a effect on the market...yet...

Media looking for click bait.

maestroamado

Colonel Claptrap wrote: »

Vindication?

https://www.irishtimes.com/business/commercial-property/corporate-investors-not-the-cause-of-high-rents-report-claims-1.3949468?mode=amp

"Institutional investors or so-called “cuckoo funds” are not the prime drivers of high rents in Ireland and may be key to unlocking further housing supply and actually reducing rents, a new report by stockbroker Davy has claimed."

That article says it all.
We are led by the opinion of the stockbroker/media.banker.
Us guys are living by their rules and the people we pay to
protect our interests work with them.
Yes we have a great country??

Dav010

maestroamado wrote: »

That article says it all.
We are led by the opinion of the stockbroker/media.banker.
Us guys are living by their rules and the people we pay to
protect our interests work with them.
Yes we have a great country??

Isn’t the State the largest purchaser of open market residential properties here?

maestroamado

I wonder is now a good time to re-start this chat.
Clearly our Government are out of touch as this thread is two years old...

maestroamado

maestroamado wrote: »

Personally i think this should be addressed at the planning stage as it is in other countries.
If a corporation want to build 50,000 apartments let them do the development and sell or rent.
There was something like 290 houses around Lepardstown sold to one of these funds.
I wonder what was in the original planning application...

This is two years ago....

Graham

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