TheSheriff wrote: » I don't think a single property listing in Mallow tells us much. Its a significant distance from Cork city. I worked there many years ago, you brought back some memories!
Marius34 wrote: » Looking at today's BidX1 Auction, seems like all houses up to 500K, got sold in Dublin Co. This one appears to have a heated bidding war, from 260K to 468K.https://bidx1.com/en/en-ie/auction/property/42570 Which can't even be called a house, but rather a piece of land. If I'm not wrong, you can't even build a house with good size garden, as it has less than 100sqm of total land (house + garden combined).
cnocbui wrote: » I'd say it's slightly closer to Limerick than Cork. :cool:.
Billythekid19 wrote: » Proof that the market is taking a tumble. Came across this house built in 2007 and is selling for 135k. You can barley buy a site in a lot of places In cork for that price. Fair enough this address is 50k from cork city but surely ideal for someone wfh or a ftb. https://www.auctioneera.ie/property/18-radharc-na-coille-rathcoole-mallow-cork-p51-y3ek
brisan wrote: » Back in the olden days whe I got my first mortgage you could borrow 3 times the primary earner and 1 times the secondary earner At the time I was a 4th year apprentice and wife to be was a civil servant earning more than me I was classed as the primary earner as it was assumed my wife would give up work when a baby arrived Not if a baby arrived but when That was the days of 16% interest rates Yes folks 16%
1 in 4 teleworkers mulling ditching Japan’s big cities for rural areas
JimmyVik wrote: » The biggest single factor in why house prices are so high in Ireland is that there was a point in the 90s where women were encouraged into the workforce. Over the years it became more common, so you had more double income couples competing for properties and they wiped the floor with single income bidders. This just grew and grew to the point where it is very rare now to buy a property on one income.
GreeBo wrote: » Do people think that we will ever see some stable property prices? I don't see how you avoid the cycles, they go high, people can't afford them, rents go up, prices go up even more due to commercial landlords, then the market tanks or government build social/affordable housing, prices drop, rents drop, commercials leave the market, prices drop further, mortgage becomes cheaper than renting, landlords re-enter the market and away we go again.
sparkledrum wrote: » I have had tenants in my property for almost 10 years. They have now decided to move back to Poland. I don't want to rent anymore, I want to sell the property. They're hoping to go mid August. Is it a really bad time to sell?
IAmTheReign wrote: » But large scale investors think in longer terms than 12 months. If you have a choice in renting an apartment immediately for 1,600 or waiting 3 months to rent it at 2,000 you break even after just 15 months. 15 months @ 1,600 = 24,000 12 months @ 2,000 = 24,000 A year later and holding out for the higher rent is worth nearly 5,000. 27 months @ 1,600 = 43,200 24 months @ 2,000 = 48,000 And with the rent cap at 4% this difference gets compounded every 2 years when you can review the rent.
Ozark707 wrote: » I have heard that some companies are telling employees they need to return to Ireland within 6 months of leaving (if they did). This has got to do with the 183 day tax residency rule.
Earthhorse wrote: » Not sure how this will work in the long run; I'm sure many of these employees are still paying Irish tax despite having returned to their home countries (and thus no longer resident). Many of them may return in the New Year so potentially it's just a blip but it'll be interesting to see how it plays out.
OwlsZat wrote: » The paid advertising on the daft search page tells more of the story. The first ad is for the Capital Docks Residence. It's a stunning development at the mouth of the harbour built on the old U2 tower foundations. I was watching it for prices before JP Morgan bought it outright during the build before leasing it back to Kennedy Wilson for 20 years. Apartments range from 3k to 4k. I've been down around it a few times, appears a ghost town to me with a very low occupancy rate. It's a thing good Kennedy Wilson still have plenty money to splash on the No1 daft advertising space. Bodes well for it sitting almost idle for quite some time.
wassie wrote: » But did he really say that?
ngunners wrote: » “Insanity is doing the same thing over and over again and expecting different results.” - Albert Einstein
Villa05 wrote: » It is truly shocking that a Government is pursuing this policy to provide social homes. The people authorising this are top level public servants who benefited most from bench-marking public sector pay. Anyone responsible for this level overspending and waste in the private sector would not last long in there position Paying half a million for something that could be done by councils for half that It is truly depressing to be paying tax every week and then for it to be passed to foreign funds to fund extortionately priced property that can be delivered easily at a fraction of the cost People often state here where are other political parties will get the money to implement their policies of delivering affordable homes, well the answer is well and truly in that article. How can a Minister for finance stand over this level of waste and missed opportunity. Prudent Paschal!!!!!!!
ngunners wrote: » https://www.irishtimes.com/opinion/programme-for-government-wrong-to-put-faith-in-private-builders-1.4286542 This article is a great read, and a clear explanation of the government's role in exacerbating the housing crisis. Unfortunately,the programme for government is a continuation of failed policies. “Insanity is doing the same thing over and over again and expecting different results.” - Albert Einstein
The State and their agents are also active, buying up one quarter of all new market homes, for social housing last year. The “half a million euro” social home is now established in policy, and at a time when the Minister confirms an “all-in” cost of less than €250,000 nationally, for a two-bedroom apartment developed by local authorities.
At the end of 25 years, the State will own assets worth less than 5 per cent of its investment and the 11,500 families living in them will be homeless.
Another offshore fund has leases worth €750,000 each for social housing apartments, with the local authority responsible for maintenance.
Woshy wrote: » I posted this three months ago - and it feels like a lifetime ago now! We moved in 6 weeks ago and we are thrilled with the house and so glad we proceeded with the purchase. Even just having the extra space while we're all stuck in the house has been so good for my mental health. Lockdown was a strange time to move but we got there in the end. Both our jobs remain very secure and a lot of the anxiety I had has lifted. This is our longterm house and we were extremely picky on location (within 2 square km) so it would have taken a while for something else suitable to come up - knowing this is a 20+ year house means I'm not really concerned with price drops too. I will say we are very glad we didn't borrow the max amount we were offered and that we didn't stretch ourselves. We could have spent 100k more and gone bigger but with all that has gone on it has made us a lot happier to borrow less money. Best of luck to anyone else going through purchases!
The_Conductor wrote: » I think that the entire rental sector should be taxed in an identical manner. I'd argue that a flatrate tax of, say, 25% of rental income, with no allowances or deductions- applied in an identical manner, across the board- would be fair and equitable. With 356,500 private rented units in Ireland and a standardised average national rent rate of €1,129 (Jan 2019 figures, according to the RTB)- this means the private rental market is worth in the region of 5 billion- and a flatrate tax @ 25% would be worth approximately 1.25 billion to the exchequer. I have no idea what landlords are currently paying to the exchequer (as-in- a total)- but it must be a portion of the 1.25 billion that I suggest would accrue with a 25% flatrate tax on gross rental incomes.
neutral guy wrote: » OK,can you explain me here and forever .Why I have rent the property for 8 months if I bought house already .Thank you.
Graham wrote: » Mod Note Neutral Guy, if there are elements of the Irish property market or living in Ireland that you don't understand or agree with, please take them to a separate thread rather than derailing this thread further. Some off-topic posts have been deleted.
