c.p.w.g.w wrote: » In Dublin yes, but plenty of value to be had in other areas of the country...but there seems to be an issue for renters, where banks don't seem to deem rent payments as evidence of ability to repay a mortgage...I was a renter before I bought, my mortgage is 57% of what my rent was. A old school friend left his job in Dublin for the same role in Clare, took a hair cut on pay but is now in a lovely house and mortgage is modest for his income... But going back to the phones and shows...Balenciaga retail for €800 and phones €1,000...that's €1800 on just 2 items...that is all my bills(incl mortgage) covered for 3 months with some left over for a meal for 2 in a restaurant
c.p.w.g.w wrote: » But going back to the phones and shows...Balenciaga retail for €800 and phones €1,000...that's €1800 on just 2 items...that is all my bills(incl mortgage) covered for 3 months with some left over for a meal for 2 in a restaurant
PropQueries wrote: » Sign of things to come in Dublin? https://www.forbes.com/sites/lisachamoff/2020/08/03/manhattan-developer-deeply-discounts-unsold-units-in-ultra-luxury-peter-marino-building-on-the-high-line/#2e95d2de1ec3 “We could have cut the prices by 20%,” Korolik said. “We just want to move forward.”
Graham wrote: » Do we have many $20 - $30 million dollar apartments in Ireland?
MacronvFrugals wrote: » Genuine question why would luxury apartments down in Spencer Dock be empty, is it the cost or ?https://www.businesspost.ie/ireland/the-luxury-gap-hundreds-of-high-end-apartments-lying-empty-across-dublin-ac7da06c
PropQueries wrote: » In my opinion we're not London or New York. Is there really much demand for such units. Our "IT" jobs are mostly in sales etc. The real work in done in the United States, London or some other EU country. I think everyone believes we're the silicon valley of Europe but the truth and the wages are much different from the reality.
Graham wrote: » It appears to be limited to a few specific developments. As they haven't shown and signs of dropping the rents I'd have to assume there are other commercial reasons at play. Chances are we'll never know what they are.
PropQueries wrote: » All investment properties are valued at their rental yield, real or perceived. Basically, if they have 100 apartments and only one in rented out at €10,000 a month and the rest are empty, they can value the whole development at the rental yield achieved on that one unit even though they're pulling in literally no money and are actually making a loss. That one unit is normally a related party. It's basically an accounting trick to encourage investors to invest further, but it eventually unravel to a devastating impact...
Graham wrote: » That could well be the case. We might never know, or we might see an announcement at some point that assets have been written down in value.
Cyrus wrote: » without getting too obtuse thats a notional saving, it will get eroded by inflation.
smurgen wrote: » What inflation? We're about to enter a deflationary period.another advantage to the delayed purchased is the new lower mortgage rates e.g ptsb doing 2 5% soon and Avant Money going to come in with 2%.
Cyrus wrote: » I fixed at 2.5 percent 2 years ago champ Keep up
awec wrote: » 2.5 is not low, you can already get better than that as a FTB in the worst LTV categories. Anyone not fixed can switch to that 2% rate whenever they want, it’s not unique to new buyers. Even those fixed can switch, could still end up saving depending on circumstances. Anyway he was talking long term, but I think you knew this.
Ninap wrote: » We put our place In Dublin on the market in late Jan. Got bids of just below asking prior to Covid striking. Now sale agreed at about 3.5% below what we had been offered. So, just one straw in the wind, but the whole Covid thing doesn’t seem to have had a huge impact. And similarly for the places we are looking to buy. No big reductions in price.
smurgen wrote: » Doesn't matter. They would have been paying higher rates for years. According to some here buying now is always the best option. This is simply not the case for everyone. There is definitely better times to buy.
Graham wrote: » Yes, apartments in the 20 - 30 million price bracket. It might be a sign we'll see the same sort of drops in Irish properties currently listed in the $20 - $30 million price bracket. :pac:
Hubertj wrote: » This statement is incorrect - not the forum to discuss it but your wrong.
PropQueries wrote: » It matters in the sense that multinational employees are regarded as a significant driver of demand for housing in Dublin City. Also, why has Google an office in London for over 4,000 employees and in Zurich for 5,000 employees: https://www.theguardian.com/technology/2020/apr/07/google-uk-staff-earned-average-of-234000-in-2019 and https://www.businessinsider.com/google-zurich-headquarters-tour-2018-1?r=US&IR=T
