Idbatterim wrote: » 100%! Even low income workers here, actually the working poor, are hit with a 50% marginal rate over a pittance of an income, as if they were the wolf of wall street, when they can barely keep the wolf from the door financially. the country is a joke. My company, the employees would turn down extra hours, at good pay,because they werent prepared to lose 50% of it, and they were right! and they were getting generous pay! The taxation system here is comedy beyond belief, basically its a small amount paying in, far, far higher than their fair share!
fliball123 wrote: » No bother paying higher property tax providing the government take its foot off the neck of workers with regard to income tax. The problem is that the pool of people who are paying over the odds for income tax would be caught with this as well
PropQueries wrote: » In the Irish Times on the 6th January, Brendan Kenny, Deputy Chief Executive of Dublin City Council stated the following: "We cannot build a unit in Dublin for €300,000, no way. The average cost is more than €400,000. The schemes we are building at the moment, the big ones in the city, the average costs are €430,000 per unit." At the moment, in Castlebar, A2 rated 119sq.m. 3 bed semi-detached houses are being advertised for €243,500. I use an A2 rated example as I think this has to be the standard going forward. There are plenty of A3 rated units currently for sale for less and much closer to Dublin. Can anyone reconcile the difference in cost in delivering similar sized A2-rated houses in Dublin given that site costs and labour costs do not appear to make up the c. €180,000 difference in costs between Dublin and the rest of the country even if the council had to pay market rates for the sites they build on, pay market level finance costs and had to make the industry standard profit margin. Link to Irish Times article here: https://www.irishtimes.com/news/ireland/irish-news/affordable-housing-subsidy-must-double-for-dublin-housing-chief-says-1.4451582 Link to the Castlebar A2-rated 3 bed semi-detached units for sale here: https://www.myhome.ie/residential/brochure/the-clydagh-carrabeag-newport-road-castlebar-co-mayo/4470500
Timing belt wrote: » You are right they did say there will be caps
In the UK the scheme only applies to certain new properties under a certain price. I imagine they will implement similar here so the 12 houses you are looking at may not even be eligible if the scheme even though they are within the price range.
thomas 123 wrote: » Martin said in the dail today that there may be caps, not sure if I misheard but it will be great for self builds and new buys if there is some sort of cap.
MacronvFrugals wrote: » Folks quick one, the new shared equity loan scheme i know all the details haven't been fleshed out but just looking at myhome.ie there is only 12 listings for new homes in Dublin for under 400k, we'd assume once the scheme comes online these existing listings will snapped up quicker than the Healy Raes buying property at an Allsops auction. So is the intent just to spur on building or is there lots of new developments nearly finished and ready for sale?
Timing belt wrote: If I recut my data for just 25-29 it is the same data in the news article but shows that the actual number of people in the age bracket of 25-29 living at home has not significantly changed in the past 15 years.
Timing belt wrote: » If I recut my data for just 25-29 it is the same data in the news article but shows that the actual number of people in the age bracket of 25-29 living at home has not significantly changed in the past 15 years.
If I recut my data for just 25-29 it is the same data in the news article but shows that the actual number of people in the age bracket of 25-29 living at home has not significantly changed in the past 15 years.
MacronvFrugals wrote: » Will all these be rented going forward?
Idbatterim wrote: » not having a property tax, is a joke! Did or do we let people in massive engine cars, driver around with as good as free motor tax... no! The home is way more emotive, they wont touch it here. it just absolutely screws over the non homeowners, remember all decision makers are homeowners, they dont even have to be landlords to want rip off prices! If you guys have time and are interested in why governments support rip off prices, take a look at this Australian documentary on the subject, it is excellent!
MacronvFrugals wrote: » Does anyone know if we've got updated Eurostat figures like the ones mentioned in this article?Jump in young Irish adults living with parents among highest in EU "Rate of people aged 25-29 living at home up 11.2 points to 47.2% in decade to 2017"https://www.irishtimes.com/news/social-affairs/jump-in-young-irish-adults-living-with-parents-among-highest-in-eu-1.4177848?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fnews%2Fsocial-affairs%2Fjump-in-young-irish-adults-living-with-parents-among-highest-in-eu-1.4177848
MacronvFrugals wrote: » Thanks Cy, i assume also they wouldn't be paying the amount of tax that a small landlord would?
Cyrus wrote: » First few paragraphs of the article
Listed builder Cairn Homes has sold 150 homes in Lucan, county Dublin to Irish investment management firm Carysfort Capital and Wall Street financial giant Angelo Gordon for €48.6m. The homes, which have yet to be completed, will then be rented out once finished.
Browney7 wrote: » The build cost for DCC was ignoring land costs I believe
thefridge2006 wrote: » Cairn Homes sells 150 homes to cuckoo fund as it reports profit of €24mhttps://www.independent.ie/business/commercial-property/cairn-homes-sells-150-homes-to-cuckoo-fund-as-it-reports-profit-of-24m-39963495.html "The company said its sales mix in 2020 was more oriented towards housing compared to previous years and that it reduced its average selling price to €332,000 – excluding VAT – from €372,000 in 2019."
JimmyVik wrote: » What they needed was a great property crash.
Bass Reeves wrote: » I am not sure what a site costs in Dublin but suspect it is in the 100k+ bracket. Down in Castlebar it probably sub 30k. After that you have labour not just for the houses but higher costs involved in maintaining a business in Dublin. Actual building labour could be 60% of the Dublin price. In Castlebar the builder may directly employ 50-80% of his labour directly. For a worker or contractor building a house in Castlebar travel to and from work may involve a 15-30 minute travel time morning and evening compared to 50-90 minutes and maybe longer in Dublin. If we assume that 80k is the difference in site price there was s 10k extra in Vat Inc in the 100k difference. I imagine that levies paid to local authorities us higher in Dublin as well. You have to factor in higher professional fees in Dublin's as well from Engineers, certification and legal. Margin will alway remain a similar percentage even when costs cost is higher TBH I have expected the difference to be higher
