Irish Property Market 2020 Part 2

Marius34

PropQueries wrote: »

I haven't researched it, but I think it would be interesting to find out how Latvia became the FinTech start-up capital of Europe. Eastern europe is increasingly following our lead in attracting multinationals. Maybe it's about time we started copying some of their ideas?

East Europe in general is low taxation on Corporate/Dividend/Capital gain tax. Sometimes all combined as one.
Dividends and other gains are typically not counted as part of the income.
In some cases small companies/start-ups has exemptions on Corporate tax.

PropQueries

schmittel wrote: »

Definitely one solution is landlords dropping the price, then no doubt there will be less of a shift to WFH.

If I owned a Georgian on Baggot St, and tenants didn't renew, I'd try shifting to serviced offices/meeting rooms/call answering/business address etc.

Which I guess is good for the likes of WeWork. I could see an Airbnb for offices booking platform type of business doing well.

We could see the likes of Baggot St transformed - get rid of the dreary solicitors and accountants, fill it up full of young energetic start ups!

Just thinking. You make an excellent point. If rents drop, that would definitely encourage a start-up culture to take place. Only problem once it takes off is if the landlords start increasing the rent and we're back to square one. Your point stands though.

MacronvFrugals

PropQueries wrote: »

Just thinking. You make an excellent point. If rents drop, that would definitely encourage a start-up culture to take place. Only problem once it takes off is if the landlords start increasing the rent and we're back to square one. Your point stands though.

Commercial gentrification

The Belly

jgt3 wrote: »

Okay so do I buy a house or not?

do what you feel is right but just watch whats happening around you and dont rush

Assetbacked

jgt3 wrote: »

Okay so do I buy a house or not?

Probably not given there's a frenzy going on with places going for over asking and bidding wars on properties. Let the dust settle post-pandemic and see what the government offer in terms of market stimulation.

The Belly

Assetbacked wrote: »

If we see a return to austerity in the EU, consider Brexit a legitimate course of action for other countries, including Ireland.

Add Italy Spain and greece. But Italians first.

thefridge2006

https://www.irishtimes.com/sponsored/from-here-student-living/7-reasons-why-this-dublin-student-accommodation-is-the-smart-stylish-choice-1.4346602

7 reasons why this Dublin student accommodation is the smart, stylish choice -:pac::pac::mad::mad:

inthenip

Anyone any advice, On 36K with a 10% bonus.In a good multinational company and looking to buy.

I'm with the company 5 years and no higher paid jobs have come up in the five years as no one leaves the company.

I'm looking to buy a house in my area that are going for 200K.

Im over qualified for my role but the thoughts of moving back to Dublin is not what I want to do just to get 55K which o could easily get in order to meet the 3.5 rule.

Thanks

neutral guy

inthenip wrote: »

Anyone any advice, On 36K with a 10% bonus.In a good multinational company and looking to buy.

I'm with the company 5 years and no higher paid jobs have come up in the five years as no one leaves the company.

I'm looking to buy a house in my area that are going for 200K.

Im over qualified for my role but the thoughts of moving back to Dublin is not what I want to do just to get 55K which o could easily get in order to meet the 3.5 rule.

Thanks

If you like the house and location Buy it ! No matter when you buy the matter is when you sell.If you not gonna sell then no need thinking at all !
The smaller the price on market the bigger is competition
The bigger the price on market the less the competition
Choose,or you now or somebody later.
If you dont care what you buy then simply wait until market will crash.

TheSheriff

neutral guy wrote: »

If you like the house and location Buy it ! No matter when you buy the matter is when you sell.If you not gonna sell then no need thinking at all !
The smaller the price on market the bigger is competition
The bigger the price on market the less the competition
Choose,or you now or somebody later.
If you dont care what you buy then simply wait until market will crash.

Actually shocked you didn't tell this poster to wait and scoop up a 2 bed in drogheda for 20k post apocalypse

neutral guy

TheSheriff wrote: »

Actually shocked you didn't tell this poster to wait and scoop up a 2 bed in drogheda for 20k post apocalypse

I told him if he does not care what he buying then wait until market crash.
Price 20K in Drogheda for roof and walls will be next year.But there will be no doors and windows.

PommieBast

PropQueries wrote: »

Sorry to burst the bubble the media has being feeding everyone for the past 6 years but there is little to no 'start-up' culture in Ireland. London and Berlin are the IT start-up cities in Europe and my understanding is that Latvia is the FinTech start-up capital of Europe.

Pre-Covid I used to go to a lot of the Dublin startup-related meetups. Very vibrant scene back in 2014-2016 but last few years a lot of it disappeared due to spiralling costs.

The Belly

PommieBast wrote: »

Pre-Covid I used to go to a lot of the Dublin startup-related meetups. Very vibrant scene back in 2014-2016 but last few years a lot of it disappeared due to spiralling costs.

Tax is was to high property to expensive

neutral guy

neutral guy wrote: »

If you like the house and location Buy it ! No matter when you buy the matter is when you sell.If you not gonna sell then no need thinking at all !
The smaller the price on market the bigger is competition
The bigger the price on market the less the competition
Choose,or you now or somebody later.
If you dont care what you buy then simply wait until market will crash.

He can't afford it on his current salary.

inthenip

Augeo wrote: »

He can't afford it on his current salary.

Yep that's exactly it, I'll have to commute up and down to Dublin and maybe get a cheap room on a Wednesday.

It's three hour drive in total every day.

I have 30K saved but max the bank will give me is 130 and that's with the bonus included.

I get 2500 a month and can afford the 750 monthly repayment.

Hubertj

The Belly wrote: »

Tax is was to high property to expensive

Cgt isn’t supportive if start ups in Ireland. Property prices are irrelevant. Plenty of incubators, office space included in series funding etc.

The Belly

Hubertj wrote: »

Cgt isn’t supportive if start ups in Ireland. Property prices are irrelevant. Plenty of incubators, office space included in series funding etc.

well if you say so

inthenip

inthenip wrote: »

Yep that's exactly it, I'll have to commute up and down to Dublin and maybe get a cheap room on a Wednesday.

It's three hour drive in total every day.

I have 30K saved but max the bank will give me is 130 and that's with the bonus included.

I get 2500 a month and can afford the 750 monthly repayment.

Your options are
- increase salary
- look at cheaper properties that current income facilitate required borrowing
- wait it out

If you're saving the problem gets smaller with time

The Dublin commute & cheap room thing seems prohibitive to me.

The Belly

Yep that's exactly it, I'll have to commute up and down to Dublin and maybe get a cheap room on a Wednesday.

maybe think about going out on your own.

It's three hour drive in total every day.

thats 15 hours a week of wasting time.

I have 30K saved but max the bank will give me is 130 and that's with the bonus included.

wait if you can but ideally work for yourself or move to some place they will pay you the same and costs and commute are very small.

I get 2500 a month and can afford the 750 monthly repayment

At the moment it small beans but bide your time and see how the cards fall in a while

neutral guy

Augeo wrote: »

He can't afford it on his current salary.

He will easily afford it next year
When property market will collapse
Permanent job,permanent incomes,there will be queue of banks who will want give him mortgage
And there will be queue of sellers who will want get rid of the property before banks will take it for free.
There will be towns of empty property previously used for rent.

The Belly

neutral guy wrote: »

He will easily afford it next year
When property market will collapse
Permanent job,permanent incomes,there will be queue of banks who will want give him mortgage
And there will be queue of sellers who will want get rid of the property before banks will take it for free.
There will be towns of empty property previously used for rent.

Pretty much. Although lending will be tight.

Hubertj

neutral guy wrote: »

He will easily afford it next year
When property market will collapse
Permanent job,permanent incomes,there will be queue of banks who will want give him mortgage
And there will be queue of sellers who will want get rid of the property before banks will take it for free.
There will be towns of empty property previously used for rent.

Especially for people who pay tax.

cubatahavana

neutral guy wrote: »

He will easily afford it next year
When property market will collapse
Permanent job,permanent incomes,there will be queue of banks who will want give him mortgage
And there will be queue of sellers who will want get rid of the property before banks will take it for free.
There will be towns of empty property previously used for rent.

Queues of sellers? queues of banks? Towns of empty property? Next year? I’m buying now, but may buy again next year if this is the case. Thanks for the tip

Really?

The Belly

cubatahavana wrote: »

Queues of sellers? queues of banks? Towns of empty property? Next year? I’m buying now, but may buy Shaun next year if this is the case. Thanks for the tip

Really?

No queues of banks. But prices will fall when and at what time is hard to gauge as the gov keep this sh.t show going but they will.

Graham

The Belly wrote: »

No queues of banks. But prices will fall when and at what time is hard to gauge as the gov keep this sh.t show going but they will.

There's going to be a lot of very disappointed people if the government manage to keep the show going until the economy recovers.

neutral guy

cubatahavana wrote: »

Queues of sellers? queues of banks? Towns of empty property? Next year? I’m buying now, but may buy again next year if this is the case. Thanks for the tip

Really?

Tell me why not !

The Belly

Graham wrote: »

There's going to be a lot of very disappointed people if the government manage to keep the show going until the economy recovers.

I dont think it has anything to do with getting a house for half price but if you look at how things are and where they are heading i wouldn't be running out to buy anything.

Hubertj

The Belly wrote: »

No queues of banks. But prices will fall when and at what time is hard to gauge as the gov keep this sh.t show going but they will.

Oh and they will have to drop the dgs in return for support for a bailout. Or bail in.:D

The Belly

Hubertj wrote: »

Oh and they will have to drop the dgs in return for support for a bailout. Or bail in.:D

Oh it will be a bail in thats a cert imo. But lets not get into that or i will get a warning.

neutral guy

The Belly wrote: »

No queues of banks. But prices will fall when and at what time is hard to gauge as the gov keep this sh.t show going but they will.

ECB will make money work one of other way.There will be plenty ways make banks lend money because if they will not lend nobody will help them.