Villa05 wrote: » How noble of you to remind renters stuck in poky overpriced sardine tins with no chance of affording their own place of your good fortune A good dose of fear, grreed, money printing and government subsidies helps to fatten pigs
fliball123 wrote: I am like a pig in sh1t here bought a bigger place bit of land and I can tell you the lockdown experience compared this time to last year is completely different (much better) I dont feel like a sardine stuck in the tin.
MacronvFrugals wrote: » Property Industry Ireland by way of the lobbyist's IBEC a who's who of the people who want to increase affordability for normal folks
JimmyVik wrote: » Its a total farce. Someone definitely getting backhanders for bringing in this scheme. And what about the people who dont want to have to get shared equity to compete. Hardly fair on them either.
MacronvFrugals wrote: » Mel Reynolds speaking about the shared equity schemehttps://dublininquirer.com/2021/01/27/government-s-shared-equity-housing-scheme-may-breach-central-bank-rules
This scheme allows first-time buyers to compete for expensive, newly-built homes in Dublin but that mightn’t necessarily be in their best interests
The problem is that most apartments under construction in Dublin are high-end, build-to-rent homes, he says. It is difficult to get finance to build housing for sale when “yield-hungry private equity firms are paying high prices”,
“Why incentivize ordinary consumers to start bidding against investment firms at a time when assets are approaching all-time highs?”
Winterstale wrote: » My last post on property was made in April 2020. At that time there was almost a frenzied narrative that prices would drop like never before. I was one of very few who disagreed (and not many agreed with me). Many self proclaimed experts told people on this forum - 'dont buy now, wait a few months and prices will tank by 20%'etc. I went ahead will my purchase and I'm glad I did. My point is use common sense, treat advice here scepticaly and if you have an opportunity to proceed then proceed. Time waits for no man or Woman. See below thread from April last year. Quote: Winterstale This is completely different to 2008. One obvious difference is there is a housing shortage and this will not change in next number of years. Over supply and over priced properties in 2008 is not the case now. Property prices are still 20% below the 2006 peek. A modest dip is possible/probable but will be quick to recover as the economy gets moving again and even if there was a dip (nowhere near 20%) price is relative if buying and selling a house. If your property is devalued by X amount, so is the property you wish to purchase so again its all relative. A correct price for a property is the price you are willing to pay now. I have gone sale agreed with my own property and sale agreed with a new home. I am proceeding as I am not an investor looking to profiteer on the market. I am simply moving to a more suitable home. This is not the first time I have bought and sold a property and I am very happy to proceed as are a lot of people. If you are fortunate enough to have a secure income during this crisis, I would proceed. REPLY I RECIEVED- It is different to 2008 .. a lot worse! The shortage will evaporate. Already lots of Googlers/Linkedin/Facebook types who were renting are gone, never to return. Airbnb is gone for at least 2 years thus flooding the market with rentals. Comparing prices to 2006/08 is irrelevant. We are facing mass unemployment akin to the 80s. Likely that there will be an exodus of youth and highly qualified people thus dampning demand. Great for you if you want to proceed. Having sold and bought multiple times my strong advice to anybody in a position to pull out of a Sale Agreed (on a purchase) is to do so. Go ahead on your sale if the buyer is happy and then rent for a year and then pounce. The EAs are stressed and getting desperate.. even in the past 48 hours I have got multiple calls from EAs looking for me to bid on some houses I viewed 3 months ago. It'll be a great opportunity in a years time to buy.
PropQueries wrote: » Thanks for the link. It did make sense that these investors would accept a much lower yield given the amount of cash coming their way and the type of properties they are purchasing. How does CBRE define "prime yield" though? If the prime yield only applies to the luxury developments, the SBP has done a couple of articles on that in the past year on how many of their units are empty, so the "prime yield" they're apparently achieving is makey-uppy stuff IMO The interesting line was "The same investors are also increasingly interested in buying properties to lease to local authorities or Approved Housing Bodies, CBRE said." I think the opposition should get the details on how reliant these cuckoo funds are on the state for renting/leasing their properties.
BredonWimsey wrote: » um if you actually speak to people in dublin - you ill see how dissatisfied they are with paying these prices and you will also see how remote working is giving them the advantage of working from home with Dublin companies and they can work anywhere now. Doesnt take a psychic or genius - but if you want to be flippant thats up to you. why does my comment bother you though? not happy that people arent willing to pay this anymore or may have more options in the future?
Timing belt wrote: » Interesting article on institutional investors... Thought you would be interested in the following Quote as it highlights 3.75% Yield on multi-family investments. "The Europe-wide phenomenon on low investment yields is also driving more money into new markets, where prime yields for multi-family investment held firm at 3.75pc through 2020, according to CBRE."https://www.independent.ie/business/personal-finance/property-mortgages/cuckoo-funds-now-own-15500-homes-in-ireland-after-latest-175bn-splurge-40016057.html
PropQueries wrote: » Thanks for that. It's just a few posters were stating that the yield accepted by these large funds was much lower than the yield acceptable to the small BTL landlord. Made sense given the amount of money flowing their way. But, apparently the funds are achieving near enough the same yield as the small BTL landlord which means there's no incentive for either to be leaving the market at the moment unless they believe both rents and property values will collapse in the near future. Ires Reit's Gross Yield in 2020 was 5.7%. Link here: https://investorrelations.iresreit.ie/sites/ires-ir/files/reports-presentation/presentations/interim-results-2020.pdf
combat14 wrote: » Major investor in Dublin real estate looks to exit the capitalhttps://amp.independent.ie/business/commercial-property/major-investor-in-dublin-real-estate-looks-to-exit-the-capital-40010355.html interesting to see .. possibly due to financial issues this time but who knows..
PropQueries wrote: » I’m not sure that argument stands. London is a real city and Greater London has a population about twice the size of Ireland in an area about one and a half times the size of Co. Dublin. Outside a few areas, it’s also not that high rise and they still appear to have more and better parks than Dublin has (the park thing is a guess from the times I’ve been there).
Timing belt wrote: » Average price of a 2 bed apartment in canary wharf in London is about 650k.. The price of housing in cities is an issue in most countries. And just to be clear that I am not saying that they should cost so much I am just point out that Dublin is not the only place that is experiencing this issue.
BredonWimsey wrote: » haha. ok sorry. thats the impression i got. anyway enjoy your evening. (and the property prices lol)
Timing belt wrote: » who's delighted with high prices??? what have you been smoking or sniffing with your rants!!!
BredonWimsey wrote: » its just strange to me that everyone on here is delighted with the fact that prices are so high and offer little value in what you are getting compared to elsewhere. why dont you just rename your thread INVESTED INTEREST IN KEEPING DUBLIN PROPERTY PRICES HIGH and then you can turn off the lights.
Timing belt wrote: » will the last person switch off the lights?
BredonWimsey wrote: » the reality is and I'm sure the real estate wheeler and dealers on here wont want to hear this - but people will be leaving dublin. maybe not today, maybe not tomorrow, but they will leave. Meanwhile you'll be stuck trying to justify a 650k asking price for a standard dublin apartment. off you go. and yes this wheeling and dealing and conspiring to keep prices as high as they are will backfire....eventually. Sorry Not sorry
Summer2020 wrote: » Can I get the lotto numbers for next week while you’re at it please?
Idbatterim wrote: » "Dublin City Council paying €100,000 more in construction costs for social housing"https://www.irishtimes.com/business/construction/dublin-city-council-paying-100-000-more-in-construction-costs-for-social-housing-1.4468432?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Fconstruction%2Fdublin-city-council-paying-100-000-more-in-construction-costs-for-social-housing-1.4468432 A two-bed apartment for €619,000? Pull the other onehttps://www.irishtimes.com/business/construction/a-two-bed-apartment-for-619-000-pull-the-other-one-1.4467640?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Fconstruction%2Fa-two-bed-apartment-for-619-000-pull-the-other-one-1.4467640
