The_Conductor wrote: » +1 We need high density, high volume residential accommodation output- esp. in city centers. Dublin is a special issue- and needs highrise, high density developments- as central as possible- where people do not need to commute. Ideally- as large as possible a portion of this should be affordable housing- and certain professions (I'd argue doctors, nurses, teachers- and anyone in fulltime gainful employment of under 40k gross per annum) should get priority. Dublin city council- was under the control of political entities who were diametrically opposed to development (the Greens) for too long- and despite having access to considerable redevelopment funds- didn't draw on them. Perhaps the time to ask the question- whether or not local authority housing should be formally nationalised- is now- as the piecemeal approach on a council by council, local authority basis- has not worked. Against this backdrop- we have the government investing 9-10 billion in infrastructure projects- when we don't have the available workforce for building our accommodation needs. Surely- parking infrastructure projects for a rainy day- might make more sense?
beauf wrote: » Can't fit a gallon into a pint glass.
The Student wrote: » I was listening to the radio earlier on this topic and they had a senior economist talking about the housing situation. We simply do not have enough builders to build what we need, in the past Eastern Europeans (mostly Polish) came to fill the gap but due to our high cost of living and the Polish economy going well they don't need to come to Ireland. Perhaps we should look at better utilizing the properties we already have or at least the properties where existing infrastructure already exists.
beauf wrote: » The only way to solve this is slow down the economy, for sustainable growth. No politician wants to take that on.
Zenify wrote: » I was going to add that point myself but you could go on forever. If builders wont make as much from a development then they will bid less for the land. People will say the land owners wont sell. There is an endless amount of variables but I think the biggest variable in property prices is how much money the buyers have.
Jaster Rogue wrote: » If the max people are willing to pay is less than the cost to build (including construction workers wages) and still make reasonable profit, they just won't build - constricting supply. So either way prices rise by some degree.
Assetbacked wrote: » Some long and detailed reading on the so-called vulture funds, the Irish commercial property sector and s110 vehicles;https://thepropertypin.com/t/dublin-office-bubble-fg-landlord-nirvana-iref-qiaifs-reits/48705https://thepropertypin.com/t/irish-section-110-spv-vultures-tax-haven-orphaning-scam/48520 Very well put together - will rile landlords and tenants both!
Zenify wrote: » A developer doesnt price a job on its cost. Its priced on the max people are willing to pay.
The Student wrote: » Looks like prices are going to rise again?https://www.independent.ie/business/irish/construction-workers-set-to-get-5pc-pay-rise-within-two-years-38098700.html
1.REITs pay zero Irish Tax on all Rental Income (not even 12.5%) - all Irish rents are tax-free. 2.REITs pay zero Irish tax on any Capital Gains (not the 33%) - all Irish capital gains are tax-free. 3.REITs have to withhold 20% dividend tax on dividends BUT, not for: •foreign pension funds, or •foreign life funds, or •foreign CIUs (i.e CIUs means every “non-private” investor in the REITs) 3a. In addition, REITs don’t have to pay the 20% on capital gains (they can use capital gains to buy back shares). 3b. In addition, while Irish tenants must withhold 20% rent tax from foreign landlords, they don’t if rent is collected by Irish Agents. all REITs' agents are Irish. As we saw with Section 110 SPVs, Revenue bend anti-avoidance laws for foreign funds.
el Fenomeno wrote: » Why can't the independent publish a single article about the housing situation without mentioning the term "cuckoo funds"? This is their own self-penned phrase which they seem desperate to catch on.
whampiri wrote: » I agree, however older houses tend to be larger than newer builds and this goes double for outdoor space as developers continue to shrink the footprint of houses which has resulted in an observable increase in 3 story houses.
The_Conductor wrote: » The discount that you have to price at (below the price of new builds) is increasing (nationally). You have to factor both better insulation (BER etc) into the equation- along with the fact that you have a much smaller market (aka first time buyers have only limited interest- as it doesn't qualify for their inducement). The dicotomy is producing very different markets even in the same locality- and resulting in first time buyers being lumped into new built estates- and older more developed areas- being ring fenced for other demographics. When you factor council/housing association purchases into the equation- we're storing up significant resentment in localities in future years..........
Valhallapt wrote: » Selling a house in naas atm, spoke to 3 agents before listing, all said the market has gone very slow. Massive supply of new homes coming on stream in naas, so local conditions are probably playing a part in the slowdown too. Hopefully I get what I’m asking!
VonLuck wrote: » I can imagine people coming to Ireland to work would like this kind of environment. Would allow them to potentially build some friendships and avoid isolation which can be a problem.
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