snotboogie wrote: » Austin, Singapore (if you are a local) and Berlin are pretty affordable and stable given their economic power and all three are bigger tech hubs than Dublin.
padz wrote: » Cool well given the rental graph I posted earlier Germany would be a good move for someone renting in Dublin working in tech Here it is again... My point earlier about single renting professionals leaving
Fol20 wrote: » I know some rentals where i invest have increased 90 - 100pc since 2014 so 25/30pc actually seems low.
Dolbhad wrote: » Anybody who might have been on the property boards for last number of years find any economists any good? I see Ronan Lyons popping up a lot of independent articles and wondering if anybody have those they think tend to be more clued in with the market.
klaaaz wrote: » Ronan Lyons(was(still produces reports) part of Daft) was disastrous at the last crash, we need a distinguishing figure like Morgan Kelly to tell it like it is without a vested interest/personal financial gain at heart.
JJJackal wrote: » Its hard to tell re increase in rentals imo - some have no doubt increased >30%; some have increased <25% eg landlords caught in RPZ who did not increase rent prior to introduction of RPZ Think 30% average is probably fair enough
Bluefoam wrote: » San Francisco is an anomaly... It is super wealthy, has run out of space to house people, and is still drawing a huge amount of people. It's been growing since the 70s and showing no sign of stopping. The average homeless person there is probably earning in excess of 100k
Nikki Sixx wrote: » Are you mad? Rents have increased 100% in Dublin
Fol20 wrote: » I would also mentioned that house prices have also increased circa 90-100pc so its all relative
Mad_maxx wrote: » Yes but rents are heading for 50% above 2006 levels, house prices are still on average 20% below peak in Dublin, yields in 2006 were under 4% and under 3% in wealthy parts of Dublin, they are at least 6% in the capital right now Cities like Auckland (where wages are lower than Dublin) have much higher property prices, large cities have only seen house prices go one way since the turn of the century
devlinio wrote: » What would be the max you should pay for a 1 bedroom apartment in Dublin 13 near a Dart station. I know this isn't a lot of info to go off, I'm just interested in max prices people should pay for apartments.
Fol20 wrote: » .... - Houses prices were unsustainable then and was fueled by excess credit. - Yields of 3/4pc is no longer acceptable when better returns can be gained elsewhere....
Bob24 wrote: » The two names which has some credibility with me are David McWilliams and Ronan Lyons. Now it doesn’t mean they are always right, and they are no better than fortune tellers at predicting the unpredictable (I.e. they can call out potential risks and malfunctions with the current property market, but they can’t predict the evolution of all the external factors which have an influence on the market).
Marcus Rashford wrote: » I’m not convinced that rents are up 100%. Much of the data is flawed, for example I had tenants who started paying €X and then any increases weren’t recorded with the PRTB. Then the tenant moves out and the new tenancy is registered at €Y. The PRTB does not have visibility on all of the data, so it’s a case of garbage in/garbage out. In terms of an actual example, I’ve one property that bottomed out at €1,100 and now earns €1,750 which is about the market rate. That’s a 59% increase and is about in line with what I’ve seen across the board.
OwlsZat wrote: » Saying that prices are unsustainable now they are climbing back to peak levels is wrong. We were in a global financial meltdown then but wages have now grown to make the prices affordable for the borrowers who are buying property.
The_Conductor wrote: » Plenty of people have not experienced wage growth- its been limited to a select few sectors- notably finance and IT. Its simply not the case that wage growth has occurred across the board- and its very short sighted to suggest that this is the case.
skippy123! wrote: » I am living in Ireland for 5 years now (originally from Croatia). When I moved in rent was 1050. I pay now 1500. Rent has increased - that is for sure but I wouldn't say 100% (maybe only that sort of "special" landlords). I am just going to give a comparison on salary - average price of property in a city from Croatia. Average pay in Croatia is around 700 euro a month. Average price of a 2 bedroom apartment in Capital is 120 000 euro. Average pay in Ireland is around 2500 euro a month. Average price of a 2 bedroom apartment in Dublin is 250 000 euro. I think considering ranges between pay and price of average property is still pretty reasonable in Ireland comparison to some other country's.
OwlsZat wrote: » The idea that we had to bring them in to finance building apartments when the Government could have provided developers with the finance is daft beyond belief. I expect they will be forced to rollback on this stance eventually.
myshirt wrote: » Do you want to expand on that? It's quite a bizarre comment. What are you on about and do you understand what you're saying? How is shifting some risk to international money markets and away from the State Balance sheet daft beyond belief? Separately, this whole country was built on other people's money, including the money of the Catholic Church at one point when we hadn't as much as a washer in our arse pocket. Other people's money has allowed the country to become what it is, and we are developing indigenous business off the back of it and quite a strong well educated labour force of young Irish people compared to their chancers of parents (baby boomers).
Assetbacked wrote: » I agree with this. I think we are well poised in the event of a global recession as the institutionals invested in the property market are the ones which will feel it and they consist of foreign money. This presumably was the stance taken considering the devastation caused by the crash.
OwlsZat wrote: » If the money is being sought because a recession is inevitable then fine by me. Most on this thread believe there won't be a recession / repeat financial collapse. If there isn't they had better flip the tax laws so the state benefits or it forces them to sell. The idea of a generation of Irish paying rent though the nose to line the pockets of foreign pension funds gets my goat. The incumbent government has shown zero regard for the young employees in this country.
