schmittel wrote: » In searching for the elusive info confirming the CSO's data to be patently false and Fingal Co Co's to be the gold standard I found some more interesting stuff about vacant properties in Fingal Co Co. From January 2018 IT article - Number of vacant homes in Dublin said to be between 900 and 1,000 - Local authorities found average actual vacancy rate about 3% of that indicated by CSO Given that Fingal are claiming only 64 vacant dwellings across the entire council it was strange to discover that in 2017 there were 121 vacant local authority properties in Fingal according to the National Oversight and Audit Commission So almost twice as many vacant properties owned by Fingal Co Co themselves in 2017 as they claimed were vacant "across the entire council area." An August 2018 article in the Fingal Independent may explain why Fingal Co Co have such low vacancy figures compared to the CSO and the National Oversight and Audit Commission: I think it is safe to assume the census enumerators would have consider boarded up houses as vacant if they found them to be unoccupied. Speaking of the census the spokesperson continued: A year after rubbishing the census data on the number of vacant units Fingal are quoting it in defence of the number of local authority vacant units. Fast forward to August 2020 and Fingal Co Council are not holding back in accepting their share of €40 million for the return of approximately 2,500 vacant local authority properties Fingal's share is €1,159,030 - the govt estimates of 12.k per property suggests they are budgeting to refurbish 92 properties, but possibly not the boarded up and unoccupied ones. Based on all this I hope the census skeptics will forgive me if I prefer to rely on the CSO data. Instinct tells me they are simply a more credible source.
Augeo wrote: » Davy wouldn't be biased towards Irish residential letting. They're a stockbroker..... They get their cut regardless of what folk invest in with them.
Marius34 wrote: » Probably none of them has the right vacancy numbers, and everyone has different methodology. But yes better look why other reports are not good, and not Census one. I provided details about areas around me, why Census recorded 50% vacancy, in census thread:https://www.boards.ie/vbulletin/showthread.php?t=2058102792&page=2 but you not interested why Census may result in wrong vacancy rates, but instead searching why some other reports may have wrong results.
schmittel wrote: » The main point of my post was that routinely posters claim Fingal Co Co have proven the census data to be false. They have proven no such thing as far as I can see. I have said repeatedly that my mind is open to the idea that the census figures may be flawed if somebody shows me why/how, but that's not Fingal Co Co's desktop study.So maybe it is your findings. How do you know that the census recorded the properties you refer to in Parkside and New Priory as vacant?
Ninap wrote: » Yeah, we’re not counting our chickens until we get the cash. But the buyer seems good. And yes, we thought a small reduction was reasonable given the uncertainty. But we are probably like a lot of people - if we don’t get close to asking we’ll hold on and sell later
Marius34 wrote: » I have posted a map, Census provides location with boundaries, telling how many properties there was on the night of census, and how many vacant in that specific area.
OwlsZat wrote: » Davy heavily pushed the commercial property bubble. Perhaps they predicted a residential drop to lessen the blow to the investors they swindled.
Augeo wrote: » Not foreseeing a pandemic isn't quite swindling. Any Davy stuff I've seen or events I've been at always encourages diversification. ........ What is the Davy Irish Property Fund The Davy Irish Property Fund invests in a unique portfolio of prominent commercial buildings, located predominantly in Dublin city centre. It has been created to deliver long-term value with both office holdings in the heart of Dublin's corporate landscape, as well as prime retail locations. Established over 40 years ago, the fund offers an exciting investment opportunity and access to highly-experienced fund managers. The Davy Irish Property Fund is a Qualifying Investor Alternative Investment Fund (QIAIF). To invest in the Davy Irish Property Fund you must meet the criteria of a Qualifying Investor' ...... The requirements for liquidity, diversification, restrictions on borrowing and leverage, applicable to a UCITS fund do not apply to a QIF. It's all quite transparent, if someone put their wad or a significant proportion of it into Dublin commercial property I'd not say they were swindled really. As an investment time will tell how badly or otherwise it all pans out.
Assetbacked wrote: » They also have Davy Target Investments Icav and Elm Long Income Icav as their property funds, which aren't clearly found from their website. Davy will have seen the Sorting Office letting to Google collapse and will be worried about its ownership of some of the land at the AIB bank centre in Ballsbridge which is being developed to house thousands of Facebook staff, including many that have not yet been hired. Might explain their "anecdotal" evidence that MNCs alllwed thousands of staff to leave Ireland and there is due to be a few thousand returning to bolster the rental market, possibly looking to return physically to the office, in the next few months.https://www.rte.ie/amp/1009659/
Augeo wrote: » I was replying to someone who claimed Davy had swindled commercial property investors. The pandemic, was as I mentioned, unforeseen. One can encounter a drop in a portfolio without being swindled.... Markets are like that.
thefridge2006 wrote: » "Everything is grand here folks, please don't pull your investment money... they'll be back i swear....big surge on the way and big dividends to be paid, just please don't take your money out....." Is the reasoning IMO behind this made up report with made up numbers and claims. Quiet a disgrace really and I wouldn't like to find out that's the type of professionals who are looking after my money
Augeo wrote: » Why would they fabricate a report that thousands of tech workers left the country when that's a negative for their fund?
Assetbacked wrote: » Because it is a way of explaining "the last few months may seem bad but just to note that a lot of employees left the country and they will be back, thereby boosting demand for rentals and office space". The rental market is a bubble, a small shock of a couple thousand MNC workers going on is not as significant as their report indicates, there is a massive covid shock which is accelerating the deflation of the rental bubble.
Sleepy wrote: » I can see a nice little black market in mail forwarding developing as people charge MNC workers on permanent work-from-home contracts a few quid to send on their official mail to their actual (oversees) residence.
Leozord wrote: » If all Irish IT engineers decide to move out from the Big Smog and head to their hometown, Dublin will become a real babel tower of the 21st century.................
Leozord wrote: » If all Irish IT engineers decide to move out from the Big Smog and head to their hometown, Dublin will become a real babel tower of the 21st century. I personally can't find myself living outside Dublin anymore (lived about 3 years in the midlands) and despite the violence against some immigrants done by few sc*mbags, the city has so much to give when it comes to entertainment, access to goods, people and so on. Don't see myself anywhere else in the island. Bust just a personal preference. If I had family + mates in the countryside, I would definitely move out as well.
Augeo wrote: » There are 1876 apartments for rent in Dublin City on Daft currently, back in March in was 1300 iirc.
awec wrote: » It won't happen. I'm sure some will, but the notion that people only move to Dublin reluctantly for work is massively overblown on this forum.
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