Hubertj wrote: » Employers won’t mandate how many days per week you wfh. Only a fool would think that. My employer is increasing its office space in Dublin to accommodate more staff. There will be no shared desks, everyone gets their own desk. Policy hasn’t been defined but it’s been made clear people can go to Ireland five as many days per week as they want and there won’t be full time wfh. It’s about flexibility. What wfh technologies need to be invested in? Most employers had DR plans so people can all wfh if required. How many people live in places that are suitable for wfh? Can you have a permanent desk in a stupid or 1 bed? Can everyone afford a 2 bed and use the spare room as an office? What about people in house shares? 4 people in a 4 bed house? How does that work?
PropQueries wrote: » Just last week the commercial director of Microsoft Ireland said the following: “People talk about this Covid-related remote working being something exceptional and that we’ll soon return to normal,” said Aisling Curtis, commercial director for Microsoft Ireland. “But I don’t think that we’re going back to what we used to regard as being normal.” Link here: https://m.independent.ie/business/technology/microsoft-research-predicts-a-permanent-irish-office-exodus-39704093.html Given that Dublin is primarily a services and not manufacturing based economy, it just takes a small percentage of employers to embrace WFH to significantly impact on both the commercial and residential real estate markets in the city.
PropQueries wrote: » Correct me if I’m wrong, but I believe you said a while back that your company was giving up leased space in two office buildings to move their staff into an existing one they currently lease?
TheSheriff wrote: » There's literally an article linked above stating MNCs want staff back in the office.
M256 wrote: » I think that article was about MNCs not wanting their staff working remotely from different tax jurisdictions. This is not the same as not wanting them working from home in Ireland. Can I assume that those not supporting WFH have vested interest in city center properties?
Hubertj wrote: » I just have a pain in my hole being stuck in my spare bedroom/office. Much perefee being around people.
Pelezico wrote: » My son and his GF are hoovering up the coin during lockdown. They now have a veritable warchest for that elusive house. He told me they have been saving 1500 per month each since beginning of March. This has been cruel. Some people in high tech, pharma jobs have done incredibly well. Others in local industry and service sector have lost very heavily.
PropQueries wrote: » The vast majority of people currently working for multinationals in Ireland would already be homeowners so I don’t see how the demand from this group will influence the housing market going forward. We will be building c. 60,000 new residential units in 2019, 2020 and 2021. That’s enough new housing units to give every single employee currently working in both Google and Facebook their very own home 5 times over.
Hubertj wrote: » Any evidence to support your first sentence? Guarantee you don’t because you made it up.
Pelezico wrote: » My son and his GF are hoovering up the coin during lockdown. They now have a veritable warchest for that elusive house.
woejus wrote: » March to December €3000 per month is €24000, hardly a "warchest", it's less than 5% of a €500k property. It will be swallowed up in two rounds of bidding with "another buyer", real or imagined. An experienced EA will relieve them of their savings in no time, using such tactics. You're also of the assumption that your son and SO are the only ones saving in such a manner, and that they're the only ones in the market for an "elusive house".
Browney7 wrote: » Its not that people will have more money to buy due to having accumulated extra cash. Its more they have been able to gather a deposit together thus enabling them to get mortgage approval and thus increasing the pool of buyers. Added to this of course is the expansion of the HTB scheme to be 10% of a new build up to a 30k refund which again brings more people into the buying net.
PropQueries wrote: » But there’s less than 250,000 employees in total working for multinationals in Ireland. The average salary is c. €60,000. Many would have been employed since the 1980s so would already be homeowners. We’re building 60,000 new units between 2019, 2020 and 2021. For such demand, even if it existed, to drive up house prices, we would need to stop building new homes immediately and no probate sales would need to enter supply over the next two years. They may have extra savings, but I don’t see this resulting in higher house prices going forward IMO. Either way, I would assume most multinational employees who aren’t homeowners yet, would already be renting fairly decent accommodation so if they do buy it just frees up their existing decent rental property back into the market resulting in a zero sum impact on the demand/supply dynamics?
TheSheriff wrote: » Again, your zero sum impact on the demand/supply dynamics has been rubbished several times here already. Its not worth it anymore.
JimmyVik wrote: » We will build nowhere near that tbf
Bubbaclaus wrote: » This thread is actually unreadable.
PropQueries wrote: » Apologies, I didn’t realise that when someone who was previously renting a home buys a new home, their old rental property is immediately demolished and removed permanently from the housing market.
Hubertj wrote: » Perhaps the poster is saying an additional €3k per month on top of whatever else they were saving. I think anyone who is fortunate enough to be in secure employment during 2020 would be able to make additional savings...
