godtabh wrote: »
Has phase 1 sold out?
Nika Bolokov wrote: »
Im just wondering would anyone have any insight into this development?
The houses look lovely and the location very handy.
Is anyone else here thinking about one of these?
you2008 wrote: »
Main bath without a window, that is no for me :eek:
L1011 wrote: »
70% were not going to social housing, that appears to have possible been imagined on here due to a maths error. About 40% were, and now none more than the 10% Part V will be.
The entire rest of the estate has been sold to a REIT and will be rented. Some/lots of this could end up being HAP tenancies but its not social housing.
Galwayhurl wrote: »
JimmyVik wrote: »
My friend has been fighting for their money back there after it turned out the sheer amount of houses going for rental, council and charities.
He has been told by his solicitor a few days ago that he is allowed to pull out and get his money back.
So get your solicitor on to them if you are not happy with whats happened.
No matter how you dress it up the vast majority of people living there will not own the property they live in and I give it about 3 years before its a dump. I might be wrong, but i certainly wouldnt chance it myself.
yer man! wrote: »
Has the housing minister commented on this yet? I contacted my local TDs on this and gave this exact estate as an example of unfair practice in the market. I asked them to look into potential legislation that would reserve a portion of new developments to first time buyers. I would urge other people to get in touch with their TDs on this too, bombard them.
Samuel T. Cogley wrote: »
TBH I think FTB are being done a favour by being excluded from that mess. There shouldn't be concentrated social housing anywhere.
LuckyLloyd wrote: »
It's not going to be social housing.
REITs aren't in the business of depreciating the value of their property ime.
Fred Cryton wrote: »
This is actually good news. Don't be taken in by the lefty populist narrative. It will allow the developer to "de-risk" this project. He can use the cash as a deposit to take out a loan on another development. Result is that more homes get built and more economic activity. Construction sector can scale up.
Think of it this way, we are getting €135m extra in foreign capital into our housing sector as a result of this deal. The more cash the better.
Reversal wrote: »
The only reason a foreign investor is putting in €135 million is because they are guaranteed to bleed a lot more back out of the country.
And the money they take is either taxpayer money in the form of HAP or long term leases, or extortionate rents from the young people of this country blocking them from entering the market themselves.
This policy is a disaster for everybody except;
1. The institutional investor.
2. The politicians who want to reduce the social housing list in this election cycle.
Fred Cryton wrote: »
The only way he can take more money out of the country than he has put in is if a lot of homes have got built to generate revenue.
You've got to see it at the macro level. All this cash pumped into the economy will ultimately result in a lot more homes getting built which otherwise would not.