Moving! wrote: » Was the one you viewed in Dundrum on Barton Rd East? We were looking at that - had gone sale agreed at €584k late last summer and then sale fell through recently. Last I heard, it was at €610k on Friday... That's symptomatic of everything I have seen over the last few months.
Hammerson, Ireland's largest retail landlord, said its Irish properties had a busy Christmas but has so far collected just over 30% of the rents due in this first quarter, lower than its performance in France and in Britain
PropQueries wrote: » A cash buyer buys a €400k investment property at e.g. 5% rental yield = €20,000 per annum. Over 10 years, that's gross income of €200,000 If that person decides to leave that €400k sitting in the bank = 0% maximum = €0 per annum Over 10 years, that's income of €0 If the landlord is incredibly unlucky and his tenants don't pay any rent for 5 years, after 10 years, he's still €100,000 better off (gross) than leaving it sitting on deposit. More than compensates for the "hassle" of renting a property IMO Even if he spends €50k over that 10 years on "improvements", "fixing things", replacing a €250 cooker etc. he would still be better of by the 10's of thousands after 10 years. Taxation doesn't come into it because he still wouldn't be paying any tax on the €0 he would achieve by leaving it in the bank. The "hard work" entailed in managing a property shouldn't come into play either as if he's a decent landlord, the property should be in good condition to begin with before he's letting it out.
Timing belt wrote: » The issue is not about a bubble in Tech shares... The issue is if we see to much inflation it will raise yields on Government debt. The central banks will not be in a position to undertake QE to push yields lower as this will generate more inflation. In this situation we have:Government debt servicing costs increase The increase in yield will also push up the cost of servicing all Corporate and personal Debt The logic that has pushed the share prices (and other assets classes) higher is that market has repriced to the low interest rare environment. All of a sudden there is a big hole in this logic which results in a repricing down of Shares and other assets. (Tech stocks are more sensitive to interest rate so will see larger falls) Hopefully at this stage the economy will be growing sufficiently to be able to deal with the increase in debt servicing costs. (e.g. tax take is up because the economy has grown) If the inflation is significant enough the central banks may need to start tapering QE or raise rates even if the economy is not growing. This will result in the same conditions as listed above but will result in growth being cut back at the same time as the Brakes have to be applied to the economy. If this happens then we have very serious issues as the increase in debt servicing costs need to be found somewhere by the Government, Companies and individuals.The Governments will need to cut expenditure or increase their tax take. Companies will cut costs which means unemployment which means lower taxes. Individuals will have higher mortgage repayments (unless they are fixed) and are likely to be paying more tax (assuming they have not lost their job) Although I agree with you that there is no Bubble in Irish house prices. I can not see how they would not be impacted in such a situation.
Non-essential construction sites have been closed since Friday 8 January but the numbers of construction workers on the PUP suggests that many sites remain open.
MacronvFrugals wrote: » Landlord Hammerson collects 31% of its Irish rents in current quarterhttps://www.irishexaminer.com/business/economy/arid-40210271.html
combat14 wrote: » results from israeli rollout of pfeizer vaccine indicate it may be necessary to give people their 2 jabs closer together raher than give everyone their first jab and wait to rollout second jab - wonder will this slow down economy getting back on its feet guess we are lucky that there are a few vacinces on the way - and we are not getting the chinese version here as apparently it is only 50.4% effective!!https://www.google.com/amp/s/news.sky.com/story/amp/covid-19-real-world-analysis-of-vaccine-in-israel-raises-questions-about-uk-strategy-12192751
PropQueries wrote: » Was referring to the average number of potential occupants per new built unit. But I’d also add in the c. 5,000 (or whatever the figure is, maybe half that?) additional dwellings that are reconnected to the ESB each year (reconnections are only counted if they haven’t been connected in the past 2 years) so are very real additional supply into the market annually. I’d also add in the probate sales at a minimum of c. 5,000 - 10,000 per annum. Contrary to some people’s opinions here, when old people pass away, we don’t send in the demolition contractors and immediately knock down their home so it’s very real additional supply each year. So, new supply entering the market each year is definitely exceeding demand IMO. And I think many people don’t realise that those housing demand projection figures put out by the central bank, ESRI etc. include having to replace c. 5,000 units that they believe become obsolete and vanish into space each and every year in Ireland. I doubt that level of obsolescence (if true) is happening in Dublin, Galway, limerick and Cork each year (where people actually want to live) so the estimates for future housing demand projections are way off IMO, especially as their projections are also based on net inward migration staying at c. 30,000 per annum out to 2030.
Ursabear wrote: » We are also buying and getting some quotes prices for new builds almost 5- 8% higher then the prices for similar houses in the same developments last year. Am terrified it's a bubble and it will burst and we will have bought at the peak. Would happily but 2nd hand but very little on market due to covid.
fliball123 wrote: » and others will spend their lives paying rent as they did not buy.
bilbot79 wrote: » I wonder does this also have a bit to do with the increase of help for ftbs from 20 to 30k?. I'm trading up but literally won't touch a new build as I don't get that bonus
StevenToast wrote: » SOFT LANDING!
SmokyMo wrote: » You can buy at any time when you renting.. Dont get your point. I do get a whiff of fear in this thread from homeowners knowing deep inside they overpaid for their property and afraid of any price fluctuations.
PropQueries wrote: » According to the Irish Times today: "Glenveagh Properties is on course to secure over €60 million from the sale of more than 100 apartments at its Marina Village scheme in Greystones, Co Wicklow, to the German investor Realis." According to the article, it's the same fund who purchased Herbert Hill in Dundrum where the council is paying up to €3,000 per month per apartment over a 25 year lease term. However: "The Irish Times understands there are no plans at this point for it to pursue a deal similar to the one at Herbert Hill with Wicklow County Council.". But if they do make a deal with Wicklow County Council, it will definitely make it one the best social housing developments in the country, if not the world IMO Link to Irish Times article here: https://www.irishtimes.com/business/commercial-property/german-investor-to-acquire-greystones-apartments-for-60m-1.4462425
virginmediapls wrote: » This is a major thing in this thread. The counterpoint of this is that there's a rake of ~30 year olds waiitng to get into the market, hoping the inevitable crash is about to come.
Idbatterim wrote: Absolutely insane, 1.5 million euro mortgage and interst for you on your say 750k house or apartment ( including furnishing and maintenance) . Oh and your yearly lpt and management fee. Free for your neighbour!
combat14 wrote: » interesting read for anyone who thinks the world and irs economy is in for a soft landing any time soon: “What We’re Dealing with Now Is a New Pandemic” Can We Stop a Super Coronavirus?https://www.spiegel.de/international/world/can-germany-stop-the-new-supervirus-a-e9ffc207-0015-4330-8361-b306f6053e15?fbclid=IwAR0TvNGur9FlPjwo2KBIKsPNsNLLX3VA0vMGIK6WGhkWV0oyVlQnPBC0Tjg
Idbatterim wrote: » Absolutely insane, 1.5 million euro mortgage and interst for you on your say 750k house or apartment ( including furnishing and maintenance) . Oh and your yearly lpt and management fee. Free for your neighbour!
awec wrote: » It's not that big a deal. We've social houses in our development and it doesn't bother me at all. I don't think very many people spend too much time thinking about what their neighbours are paying in mortgage or rent. Once you can afford your own, just get on with your life and enjoy it.
Timing belt wrote: » I have always said inflation will be an issue.... It's just that I don't see it feeding through on the CPI for a while yet... but who know I might be wrong... That is why I was interested in your opinion on whether we would see inflation or not. (when I talk about inflation I mean CPI not asset inflation)
The Consumer Prices Index (CPI) 12-month rate was 0.6% in December 2020, up from 0.3% in November; on a monthly basis, CPI grew by 0.3% in December 2020, following a 0.1% fall in November.
