Graham wrote: » Supply > Demand Whether that stays the case remains to be seen.
amyed198 wrote: » It's a nightmare financially, we are not from here but need to live here due to work/hobbies etc. Paying nearly 2 grand in rent to live in a sh!thole. That's why we need to buy soon, does anyone see prices dropping in Dublin by 10-20% soon or will it take years?
Dav010 wrote: » I wonder do people realise that Airbnb’s accounted for around 1% of rental properties in summer 2019? Even if every single one of them went back into rental/sales market (they won’t), it would have virtually no effect on either market.
tastyt wrote: » If there’s a worldwide recession , thousands unemployed and many businesses in the country never to reopen, why do people think house prices in Ireland are bulletproof to price drops ?? Bizarre
pearcider wrote: » The wishful thinking in here is absolutely astonishing. I keep thinking back to all the big boys bailing out of the Aviva property fund back in January. The horse of course had bolted way back in September 2019 but the small time investor in here is still trying to say it will all be ok, it’s just covid 19, we will bounce back. Wrong. This is the credit bubble of 2008 revisited, with a vengeance and the debt never went away you know.
tastyt wrote: If there’s a worldwide recession , thousands unemployed and many businesses in the country never to reopen, why do people think house prices in Ireland are bulletproof to price drops ??
Bass Reeves wrote: » I do not think anybody says the property market will drive on, but the perception that we will see a 20%+ drop in prices is unlikely. The big fundamental issues is that at present house prices developers were starting to build again as they are covering building costs and have a margin. Too much of a drop and they will stop building. This time there will not be 10,000's of excess houses build or being build. If banks stop lending It will be both to buyers and builders. Most landlords are not over exposed like last time so there will be less forced sellers
Villa05 wrote: » What percentage of rental properties are on the market at any one time? My point was that people with 2k a month creche bills would not be prime mortgage candidates, it would be unlikely that they would be driving the property market forward. I'm not sure how you deducted the above from my post Assuming rent at 1500 a month maybe 2000. A couple would be down 5k gross income before they opened there eyes on the first day of the month
Mic 1972 wrote: » I called an agency today for a 1bed apartment, asking price around the 220 mark, allegedly they already have offers for over 230 I'm not too confident that prices will drop in Dublin, but maybe it's too early to say
Villa05 wrote: » My point was that people with 2k a month creche bills would not be prime mortgage candidates, it would be unlikely that they would be driving the property market forward. I'm not sure how you deducted the above from my post Assuming rent at 1500 a month maybe 2000. A couple would be down 5k gross income before they opened there eyes on the first day of the month
Dav010 wrote: When I read posts about Airbnb properties and their effect on tenancies/property prices, I wonder do people realise that Airbnb’s accounted for around 1% of rental properties in summer 2019? Even if every single one of them went back into rental/sales market (they won’t), it would have virtually no effect on either market.
awec wrote: Anyone in the greater Dublin area who has a child in a creche?
GreeBo wrote: Erm people who rent also have children....of course they pay creche fees!
Empty_Space wrote: » As soon as the country gets back to normal, people will begin to understand what a mess the world economy is in. The irrelevant, greatly overly inflated Irish property market will be one of the first to see massive falls. The "prime" locations with stupid prices will be worst effected and will further drive down crash. Lack of demand for Airbnb type let's will drive people into rental market more and more. Anyone with investor properties will be jumping ship as rents normalize and prices drop. Prices will plummet faster than any normal investor can get out.
cnocbui wrote: » Where are you comparing Ireland to in order to come to the conclusion that property prices are 'greatly over inflated'? AirBnb demand will change very rapidly once air travel is normalised again. At least 10% of global GDP is/was dependent on tourism and travel. The incentive to restore that industry is considerable. The Airbnb market reduction is a temporary 12 month phenomenon.
I see sheep wrote: » Living in Dublin seems like a lot of stress from this thread, glad that I do not.
amyed198 wrote: » Paying nearly 2 grand in rent to live in a sh!thole
amyed198 wrote: » That's why we need to buy soon, does anyone see prices dropping in Dublin by 10-20% soon or will it take years?
handlemaster wrote: » No one knows that. But it has been by many not all jobs will return.
Villa05 wrote: » Median income in the private sector is 32K and 47k in the public sector. Take home pay of 6k a month is well over median I'd imagine that not too many people with this credhe bill would be applying for a mortgage, house extension maybe Is that constitutional, money in savings is money that has gone through the taxation system already, plenty of scope to increase property taxes
lomb wrote: » Sure the dearer one is much better located. The other is a bit of a scumbag area and is no where near schools. Id still go for the cheaper one ,always someone who can afford and better rental potential anyway as its near Pfizer The dearer one isn't really worth that, probably around 280 pre corona
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