Apartments in the development not available to purchase

uli84

Can someone pls advise what does the agent’s response with regards to the apartment I was interested in may mean?

It was basically “we are not selling the apartments, the developer has sold them directly”

im devastated, can’t afford a house and this was my only option as no other apts being built anywhere close :(

retalivity

Probably sold directly to the council for social, or to a company/fund as build-to-rent only.

uli84

Ah great :( I do hope it is not for social at least, sorry not sorry, nightmare either way, shouldn’t advertise them if that was the plan but I suppose nobody cares. Thanks for the answer.

_Kaiser_

It seems that the councils are buying up anything that comes available - in my own row of 4, 3 are now social housing in the last 2/3 years.

Not only are private buyers competing with other private buyers and investment co's, they're competing with councils who are using their taxes to outbid them.

uli84

This situation is sick but sure nothing I can do. It’s crazy thinking that social welfare recipients live in better conditions, brand new houses/apts than someone who gives 50% of their salary in taxes every month.

Do they even offer older properties at all these days to social or it’s all new developments?

RichardAnd

https://www.boards.ie/discussion/comment/118883549#Comment_118883549

Most properties on the market are second-hand these days. Many of them are sold to private individuals, but there are also investors who are buying for their own private portfolios. For example, where my grandmother lives, four of the five or so houses sold on her street in the last year are all rented out these days, and the rumour is that the same Chinese investor owns them all.