Timing belt wrote: » I would be surprised if there is a drop in the overall no of rental properties as a lot of the new builds will be adding to the rental Stock. I think what we are seeing is a shift away from BTL investors to Institutional investors.
Graham wrote: » I can't see what to be honest, I'm fairly certain the legality of the REITs was fairly closely examined beforehand. I think it's fair to say most private landlords aren't leaving the market because of the tax treatment of REITs anyway. More the imbalance in the landlord/tenants rights and to a lesser extent the now counterproductive RPZs.
TheW1zard wrote: » Was chatting to a mate who's an estate agent. Says he has a house for sale, 6 bidders all over asking price. No one has been in the house as showings aren't permitted. Mad!
Villa05 wrote: » Is there anything that can be done legally where one operator is subject to 50%+ tax while another competitor pays close to 0
Villa05 wrote: » Nope, but that particular case touched a nerve There plenty in my earlier post that you replied to without bringing anything else into it.
Graham wrote: The number of private tenancies has been decreasing by 5000 - 8000 a year for the last few years.
Graham wrote: » Nationally and haven't looked for Dublin specific. I expect we'll see a record year for landlords leaving as soon as restrictions are lifted and notice periods are seen out. Not good for renters.
schmittel wrote: » Is that nationally? Any idea of figure for Dublin?
Hubertj wrote: You’re trying to pull inheritance tax into this now? Wow
Graham wrote: » I strongly suspect the reason it's not mentioned is because it's not happening. The number of private tenancies has been decreasing by 5000 - 8000 a year for the last few years.
Smouse156 wrote: » Many of these sales are to new landlords...they never seem to mention that!
fago wrote: » These properties don't disappear into the ether so surely they help the apt/starter home market. I read all of the 2021 predictions/shills and don't recall any of the same agents mentioning supply being helped by the increase in rentals for sale. I've seen one auctioneer in a local paper predict flat for 2021, but then 4% in a national paper. Even within Ireland there's a good few micro markets, in my opinion you re best off understand where you are buying what sells, what struggles and watch the PPR.
MacronvFrugals wrote: » Rents ‘set to rise again’ as increasing numbers of landlords sell up Residential estate expert at Sherry FitzGerald says a third of its sales are through private landlords exiting the markethttps://www.businesspost.ie/houses/rents-set-to-rise-again-as-increasing-numbers-of-landlords-sell-up-a9def7e0
“The rental position is still quite precarious. We still see this very high volume of exits of private investors from the marketplace, even in the last 12 months, because of the very high tax take on rental income.” Figures produced by the Residential Tenancies Board show that the total number of landlords associated with registered homes declined from 212,000 in 2012 to 169,000 in 2019.
Hubertj wrote: » Regarding inheritance tax or capital acquisitions tax or whatever you want to call it, the bands are clear to all and apply to all in the same way. They do not consider the type of asset or gift being given and they can’t. To assert they are constructed to benefit the property market is ridiculous. Many people have to sell property, take out mortgages etc to discharge tax liability. When my father died, my brother lived with him. He had to sell the house he lived in to discharge his tax liability because he was unable to afford the mortgage. This has nothing to do with the property market. I know it is sh*t and I saw it first hand.
BredonWimsey wrote: » how is it a conspiracy to state that tax laws are affecting a disadvantaged person erroneously. or is it your perspective that any person who sees something from a different angle than yourself must be wearing a tin foil hat. the whole point of these community forums is to have opinions and to explore ideas and to look at things outside your bubble otherwise you may as well talk to everyone in your bubble all day long and never be exposed to another point of view. but maybe you just want to see things from your own point of view.
PokeHerKing wrote: » Apologies if I misinterpreted your posts but they read to me like you were saying high earners are more clued into value than average or below average earners. A statement i wouldn't agree with. If your intention was solely to point out money makes money and high earners have more options available to them then I completely agree. But would argue its like saying fire burns, you don't need to point it out to anyone other than children.
Villa05 wrote: » So a family go out of their way to help house disadvantaged family members. The state itself would have an obligation to help house these people. The state then places multiple obstacles, penalties and taxes that prevent Famiy members from helping each other where the state has abysmally failed. The state then gives tax breaks long term leases, anti competitive monopolistic practices to the wealthiest institutions to buy up property and promote inflation in prices and rents Mod's, Hubertj and anyone else This is not a conspiracy theory. This is Fact
Fianna Fáil MEP Barry Andrews says he backed a European Parliament vote to class Ireland as a tax haven by mistake. Asked why he’d backed the resolution the Dublin MEP told the Irish Independent that he had intended to abstain on the vote and will seek to correct the record of the vote he cast on Thursday. Irish MEPs were split over ‘tax haven’ accusations levelled by the EU.Ireland was named as a tax haven in a resolution adopted by the European Parliament on Thursday, which also called on the bloc to introduce minimum “effective" tax rates.
schmittel wrote: » Nothing elitist or clairvoyant about it. I posted it in direct response to: Villa05 has more cop on than most IMO and he seemed surprised. There are plenty of other posters on here who are underestimating how price sensitive your average 800k+ buyer is, and many who are relying on these higher earners to continue to prop up the top end of the SCD semi D market. I get the sense a lot of existing owners in this market are banking on the greater fool theory. For sure somebody is going to be the greatest fool, but I think it is naive to bank on the younger generation of high earners being that fool.
Timing belt wrote: » The pay is not great in fairness.... we are thinking of going on strike for better pay :D:D:D
Zenify wrote: » Sure I even believe their are paid posters here by some of the property interests. How crazy is that....? Some of the pro property posters here must honestly spend hours each day on here. Just look at some of the names and how often they post. That's how skeptical you can become.
MacronvFrugals wrote: » Mortgage rules raise doubts over shared equity housing scheme https://www.businesspost.ie/financial-services/mortgage-rules-raise-doubts-over-shared-equity-housing-scheme-33bd7418 Apologies if this was posted last week
PokeHerKing wrote: » Theres plenty of people on varying salary points unwilling to buy at certain price points. You and the other poster appear to be saying the only people who are aware or interested in market value are high earners which is complete ballix IMHO and sounds pretty elitist. But it also doesn't take a genius to know the more money you have the more options there are available to you and if you don't fear being priced out then you can afford to wait. Again nothing clairvoyant to that kind of reasoning, its fairly obvious to most people with any semblance of cop-on.
Villa05 wrote: » Interesting, I would have thought that an exodus from Dublin would be led and dominated by people priced out of the market. When you have the highest earners doing it we could have a very interesting few years ahead of us.
BredonWimsey wrote: Look at this - them trying to deter people from buying houses at less than market value - doesnt fit the agenda does it.
The country’s main retail banks may be precluded from participating in the government’s proposed €75 million shared equity housing scheme under the Central Bank of Ireland’s existing mortgage rules, the Business Post has learned.
