Irish Property Market chat II - *read mod note post #1 before posting*

Jonnyc135

https://www.boards.ie/discussion/comment/120395435#Comment_120395435

Could that high number of French be from French colony countries in Africa?

Hard to think that many people would leave France to come here.

Jonnyc135

https://www.boards.ie/discussion/comment/120395590#Comment_120395590

Wonder is it vacant for 2 years - that 30,000 refurbishment grant could be drawn along with SEAI grants for insulation etc.

Villa05

https://www.boards.ie/discussion/comment/120395796#Comment_120395796

My god!

There not afraid to sh!t on the tenants as well as landlords

If ever there was not fit for government moment

Beigepaint

https://www.boards.ie/discussion/comment/120395745#Comment_120395745

I'm not sure I agree that a Brazilian / Polish tenant illegally subletting for short term lets in breach of their rental agreement and without the permission of the owner would get the backing of the RTB.

If I was the owner in that situation I would just get a friend to book it for a night and then I would come in and change the locks.

But anyway I don't think we are going to agree. You think airbnbs are inherently good and I think they are inherently bad.

I think we'll leave it there.

DownByTheGarden

https://www.boards.ie/discussion/comment/120393094#Comment_120393094

I dont think they actually want to get rid of AirBnbs. They've destroyed tourism in Ireland now, as we will find out in the summer. Im just back form a yearly meetup that we do with a few families.

Usually we do it for a week in a hotel in Ireland in February. Since last year we had a hotel booked. Before Christmas we got an email saying the hotel couldnt honor the booking and cancelled it. Thats 14 peoples bookings just cancelled.

We had a look around for an alternative venue and Irish hotels prices were outlandish, so we went to Sicily for the week.

Flights and hotel were far cheaper than just a hotel in Ireland. They need Airbnbs or tourists will have nowhere to stay this summer. Other businesses hanging off hotel visitors will be in trouble too.

alwald

https://www.boards.ie/discussion/comment/120395801#Comment_120395801

I am not aware of any African country that is under French rule and thus its citizens have a French passport/citizenship.

https://www.boards.ie/discussion/comment/120396211#Comment_120396211

I totally agree, the hotel rooms are either taken up by the government to house people, or are prohibitively expensive. This is why I disagree with the poster who expects lots of short lets to hit the market for sale.

https://www.boards.ie/discussion/comment/120396110#Comment_120396110

I hope you have a spare €20k to hand over to your tenant if you change the locks, ignorance of the law will not be a defence.

DownByTheGarden

https://www.boards.ie/discussion/comment/120395202#Comment_120395202

That wont get even €50k. You would have to knock it down and built it from scratch to make that liveable.

DownByTheGarden

https://www.boards.ie/discussion/comment/120395796#Comment_120395796

And there in one post s the reason no word of a tax break for landlords is going to stop all sensible landlords running for the hills as soon as they get their government approved squatter out.

Villa05

A case study in how government policy is ruining housing for median income Joe/Jane.

https://www.independent.ie/irish-news/news/i-gave-my-landlord-notice-and-now-in-a-few-weeks-i-could-be-homeless-sale-agreed-homebuyers-told-houses-now-sold-to-single-purchaser-42402071.html

DownByTheGarden

https://www.boards.ie/discussion/comment/120397052#Comment_120397052

I can only read the first few sentences but i think i get the gist. You couldnt make it up. Ordinary tax payers trying to get on in life and buy a house being screwed over again. Presumably by either the council or a charity. Using those peoples own tax money to screw them.

dontmindme

https://www.boards.ie/discussion/comment/120397052#Comment_120397052

Lazy journalism...they do the story but don't bother their ass finding out more about the vendor or buyer.

Emblematic

https://www.boards.ie/discussion/comment/120397084#Comment_120397084

While it is commendable what the LA is trying to do (assuming it is the LA), they should have done a deal with the builder prior to the development going on sale to the general public, maybe bought off plans. This may have saved the LA money and, in addition, would have prevented the problem of the person having handed in her notice not being able to go through with the purchase.

RichardAnd

https://www.boards.ie/discussion/comment/120397052#Comment_120397052

It happened to an apartment block down the road from my mom. It was meant to be sold unit-by-unit, but it's now all rental only.

Those houses were probably bought by the council or by an investor who will rent them back to the council, presumably to house the "most vulnerable".

PommieBast

https://www.boards.ie/discussion/comment/120397084#Comment_120397084

I'm two minds about the amount I could also read. Vendor should not have been entertaining other buyers, but Sale Agreed is really a due-diligence stage for which things like giving up existing accommodation is asking for trouble.

Villa05

Alot of you are missing the point

Clearly houses can be built at affordable rates plus developer profit, but the various schemes and tax free status for other entities distorts the value of homes. This also creates multiple "middle men" who have to get their profit (I'll bet its more than the builders).

All this interference means a house worth 220 to to 225k gets 100k added to it's value and the people who could purchase yesterday are now priced out and may need government assistance to cover there increasing rents. Rinse and repeat as we know less than a third of new builds make it to sale to the general public.

As the fist responder stated taxes are taken from workers and used to wage a housing war against them and all other taxpayers.

This is a policy that you might expect from an aggressive enemy and lauded as genius, you could not make it up

A company called Greendrive Asset Holdings Limited, with an address in Kilmaine, Co Mayo, is the registered owner of the properties.

Its principal activity is listed as buying and selling real estate.

https://www.boards.ie/discussion/comment/120399042#Comment_120399042

But the price of goods rarely depends exclusively on the cost of manufacturing, and the manufacturers profit.

I don’t know who the company you quoted are, they may be the developers, they may have provided forward financing for the builder/developer. They are selling at market rate, and though it is awful for those who thought they had bought a house, there are huge commercial benefits to selling the entire development to just one buyer.

Im not saying the article isn’t true, but it is hard to believe a tenant gave notice without a purchase contract being signed.

Villa05

https://www.boards.ie/discussion/comment/120399080#Comment_120399080

If housing and rent affordability is the problem and governments priority. Which of the following would be the better course of action

A. Do fkall

B. Create distortions that increase prices and rents.

C. Create incentives/policies that reduce prices and rents

Jonnyc135

https://www.boards.ie/discussion/comment/120399102#Comment_120399102

I would rather they done f'all be better than what they are doing which would be option B by just distorting the market even further and making things worse.

Villa05

Im not saying the article isn’t true, but it is hard to believe a tenant gave notice without a purchase contract being signed

Most people only buy 1 house. It's probably the most stressful process you will go through in life.

Very understandable error

https://www.boards.ie/discussion/comment/120399102#Comment_120399102

Going back to the post I responded to, when developers build, they will sell for the highest rate the market will pay, not the lowest price after costs and a pre-determined profit margin are reached. That isn’t a distortion, it is economics, businesses want profit. You also must accept that other costs will be involved, if the project is forward financed, the financier will also want a profit, as will any other people/business which plays a part in the development and sale of a house.

Im assuming you want C, so go ahead, put your ideas out there, let’s see how realistic they are.

amacca

https://www.boards.ie/discussion/comment/120399191#Comment_120399191

Indeed...if they had done f all up to now I'd wager the situation would be a lot better now

They are either incompetent morons/idealogues or deliberate bad faith actors or some delightful combination of both

Between multiple schemes that add to the purchase price of a home, attacking property rights, populist decisions that reduce supply and retard quangos that just make things worse etc etc (+ I wonder if brown envelopes were involved in funds etc purchasing blocks) these shower are the equivalent of throwing petrol on a smouldering fire

I'm not saying there wouldn't be a problem without them but I honestly believe it wouldn't be as bad or certainly not any worse than if they did nothing.

Then what really gets me is the shower in opposition would do even worse.....whenever I hear Richard Boyd Barrett, Eoin o Broin, Paul Murphy etc etc speaking it fills me with anxiety ..... I sound like my father now but the country is well and truly funked if any of these people get anywhere near a position of influence on policy either.

Mr Hindley

Suppy still showing no signs of the expected spring uptick:

BoxcarWilliam99

Im developing a deep resentment for what I see going on in this country. Any housing in my town is social or taken by one of the factories for it's low paid foreign work force.

There is nothing for me or anyone like me ( young, working, average wage, nothing to show for my taxes, no handouts) in the area while I see others are handed houses ( social) or big business buying up everything else.

And there is nothing I can do about it. No matter how much I save the prices keep increasing or the deals are done behind closed doors.

Dire and must be thousands like me

Mr Hindley

Entirely anecdotal, but I was at a viewing today for a 2 bed house in central Blackrock, SCD - beautifully presented, clever storage, felt surprisingly spacious for its size. But parking v limited and an E2 BER rating.

I was the only person there. Which surprised me. 2-bed houses can be a bit niche, and I know a bad BER rating will understandably put people off, but I was still surprised no-one showed up.

ApeEvolved

https://www.boards.ie/discussion/comment/120399369#Comment_120399369

You would be mad to pay 575k for that 69m2 box, even if it is in blackrock.

ApeEvolved

https://www.boards.ie/discussion/comment/120399318#Comment_120399318

You just need to rent. Keep lining someone elses pockets and be quite. Learn to be a good citizen.🤣

Villa05

https://www.boards.ie/discussion/comment/120399207#Comment_120399207

My original point

A case study in how government policy is ruining housing for median income Joe/Jane

If those people and taxpayers want affordable non subsidised accommodation that they can own, a government comprising of Ffg will be working against you with your money.

But the price of goods rarely depends exclusively on the cost of manufacturing, and the manufacturers profit

I'm glad that the conversation has moved on from, builders won't build for a loss and the cost of building a house is what a vested interest says it is. We have private developments from a small builder that can be delivered at affordable rates at what I assume is current standards.

This case study shows how the private market can easily solve the housing issue and it shows how government distortions can destroy that solution.

The buyer we assume paid more than the individual buyers, will pay the extra 10% stamp duty. They will sell it onto some other entity at a profit probably a fund or the state. The fund will have to sell or rent out at further profit while the state will probably rip out the existing fixtures and fittings to put in the local authority standard fixtures

Layers and layers of non value add waste and profit pinching at great cost to the taxpayer and economy.

What this case study shows us is the logical, sane low cost solution and the detrimental, damaging, unsustainable, high cost to taxpayer, economy and median joe/jane

It's a simple choice fo you go for the efficient solution or the high cost option that exacerbates the problem

ApeEvolved

https://www.boards.ie/discussion/comment/120399412#Comment_120399412

If you cant afford to rent, you could just eat one meal a day.....

Maybe skip the odd day.

Young people these days.