2021 Irish Property Market chat - mod warnings post 1

Villa05 · 11-04-2021 02:19PM

RichardAnd wrote:

I worry about this too. As the state's spending continues to grow, I feat they will sell off more and more state assets to keep the upside-down triangle balanced on its head.

What makes it more intolerable is this is being done from a position of great strength and opportunity.

JimmyVik · 12-04-2021 09:23AM

Elessar wrote: »

Don't forget councils and approved housing bodies, with (for all intents and purposes) unlimited funds are hoovering up houses and apartments like there is no tomorrow, out-bidding you and most other private buyers and further depleting private housing stock.

The council have bought every house that was for sale in my are in the last 6 -8 months. Including my own. Nobody else has a chance.
I closed on my house when i bought it and before i had even moved into it the ea was approached with a bid massively over what i had just paid for it.
It was an offer i couldnt refuse, so i said yes. I have since found out the council were the ones who bought it.

Cyrus · 12-04-2021 09:56AM

one for the lovers

https://www.myhome.ie/residential/brochure/penthouse-apartment-merrion-village-ballsbridge-dublin-4-d04-vy73/4494137

Cyrus · 12-04-2021 09:57AM

and if you need confirmation that money cant buy taste....

https://www.myhome.ie/residential/brochure/casa-mia-no-36-abington-malahide-co-dublin/4494099

houseyhouse · 12-04-2021 10:05AM

JimmyVik wrote: »

The council have bought every house that was for sale in my are in the last 6 -8 months. Including my own. Nobody else has a chance.
I closed on my house when i bought it and before i had even moved into it the ea was approached with a bid massively over what i had just paid for it.
It was an offer i couldnt refuse, so i said yes. I have since found out the council were the ones who bought it.

Is this in Dublin, if you don't mind me asking? Haven't heard of this happening in Galway, where I am. Wondering if it's happening everywhere or in some places only.

JimmyVik · 12-04-2021 10:11AM

houseyhouse wrote: »

Is this in Dublin, if you don't mind me asking? Haven't heard of this happening in Galway, where I am. Wondering if it's happening everywhere or in some places only.

Yes, Dublin.

Graham · 12-04-2021 10:22AM

Cyrus wrote: »

and if you need confirmation that money cant buy taste....

https://www.myhome.ie/residential/brochure/casa-mia-no-36-abington-malahide-co-dublin/4494099

I have no words :eek:

Cyrus wrote: »

one for the lovers

https://www.myhome.ie/residential/brochure/penthouse-apartment-merrion-village-ballsbridge-dublin-4-d04-vy73/4494137

lovers of..........

12-04-2021 10:24AM

Cyrus wrote: »

and if you need confirmation that money cant buy taste....

https://www.myhome.ie/residential/brochure/casa-mia-no-36-abington-malahide-co-dublin/4494099

Its like an entire house based around 'afternoon tea'

Zenify · 12-04-2021 10:25AM

It's a full size doll house.

JimmyVik · 12-04-2021 10:38AM

AdamD wrote: »

Its like an entire house based around 'afternoon tea'

I bet thats celebrity solicitor Gerald Keanes house

awec · 12-04-2021 10:40AM

It's properly tacky. It's a bit grubby too IMO, needs a good spruce up.

The penthouse apartment is definitely some swingers sex palace type thing.

Balluba · 12-04-2021 10:54AM

AdamD wrote: »

Its like an entire house based around 'afternoon tea'

At least the colour scheme is not the usual deadpan grey shade

Cyrus · 12-04-2021 10:58AM

Graham wrote: »

lovers of..........

mirrors on the bedroom ceiling :P

Cyrus · 12-04-2021 10:58AM

Balluba wrote: »

At least the colour scheme is not the usual deadpan grey shade

in this scenario thats not a good thing

yagan · 12-04-2021 11:01AM

That house in Malahide looks like it was designed by a thirteen year old who's still big into Disney princess movies.

zinfandel · 12-04-2021 11:07AM

JimmyVik wrote: »

The council have bought every house that was for sale in my are in the last 6 -8 months. Including my own. Nobody else has a chance.
I closed on my house when i bought it and before i had even moved into it the ea was approached with a bid massively over what i had just paid for it.
It was an offer i couldnt refuse, so i said yes. I have since found out the council were the ones who bought it.

its ridiculous, if they gave private owners the chance to buy at affordable rates, it would free up lots of rental properties and there would not be such a crisis...

Villa05 · 12-04-2021 11:30AM

Limerick city/county council has more empty houses than homeless people

Crazy stat

awec · 12-04-2021 11:34AM

Villa05 wrote: »

Limerick city/county council has more empty houses than homeless people

Crazy stat

It's not that crazy if you read the article.

Villa05 · 12-04-2021 11:39AM

The many different ways of saying "this time its different"

Quite the opposite, in fact, with the pandemic crisis seeing interest rates slashed last year to yet more all-time lows. The all-powerful US Federal Reserve sets the tone for other central banks and is telling financial markets that ultra-low interest rates could be with us for years. Along with first-time buyer incentives and building grants, low borrowing costs look like ensuring that property prices will keep rising despite the coronavirus recession

In the meantime, other ingenious ways could emerge to keep the property juggernaut trucking along, perhaps again following the Japanese example and extending the term of repayments beyond the natural span of a lifetime to 100 years

“It’s like frogs in boiling water,” says Klassen. “Once mortgages were for 20 years, then 25, now 30. Soon it will be 50. Many people will never pay it back, so owning a home will become like renting – just that it’s renting from the bank.”

fliball123 · 12-04-2021 11:40AM

Villa05 wrote: »

Limerick city/county council has more empty houses than homeless people

Crazy stat

A lot of these are not fit for living in and are considered derelict. People need to stop confusing houses built no matter what condition they are in with houses that are in good enough condition to live in.

Villa05 · 12-04-2021 11:46AM

awec wrote: »

It's not that crazy if you read the article.

140 are ready to move into and 77 need minor refurbishments thats over 2/3 of the total

fliball123 · 12-04-2021 11:49AM

Villa05 wrote: »

140 are ready to move into and 77 need minor refurbishments thats over 2/3 of the total

Sorry 157 out of 297 them need work done before a tenant can move in its up at the top of the story. You need to consider the amount of health and safety requirements you need to adhere in order to rent out a property these days. If something is not up to code then its not suitable to rent out.

Pussyhands · 12-04-2021 11:53AM

awec wrote: »

It's properly tacky. It's a bit grubby too IMO, needs a good spruce up.

The penthouse apartment is definitely some swingers sex palace type thing.

The bathroom has multiple sinks, obviously intended for multiple occupancy!

Villa05 · 12-04-2021 12:00PM

lets assume HAP is paying 800 per month per house (conservative estimate) for 217 houses

thats 173.600 X 12 months = 2,083,200 per year savings if you used your own stock over renting from the private market.

Thats the figur for 1 county in the country

You can build/source a new 3 bed house in Limerick for 230k, Savings would deliver a further 9 houses per year

awec · 12-04-2021 12:16PM

Villa05 wrote: »

140 are ready to move into and 77 need minor refurbishments thats over 2/3 of the total

It also states how the numbers are misleading and it's not a case that you could just house the homeless with these properties.

woejus · 12-04-2021 12:19PM

Cyrus wrote: »

one for the lovers

https://www.myhome.ie/residential/brochure/penthouse-apartment-merrion-village-ballsbridge-dublin-4-d04-vy73/4494137

Down 600k from 2017

Same pics etc. Looks like a playboy finally came a cropper and fathered some childer.

Villa05 · 12-04-2021 12:32PM

awec wrote:

It also states how the numbers are misleading and it's not a case that you could just house the homeless with these properties.

Fact 1. 140 are ready to move into
Fact 2. 77 need minor refurbishment, social housing provision was exempt from lockdown measures

Total 217

It is the homeless figures that they state are misleading

Irrespective of whether you can house the homeless in them or not. How can you have a situation of holding 217 empty homes and be renting from the private market at great cost

fliball123 · 12-04-2021 12:35PM

Villa05 wrote: »

Fact 1. 140 are ready to move into
Fact 2. 77 need minor refurbishment, social housing provision was exempt from lockdown measures

Total 217

It is the homeless figures that they state are misleading

Irrespective of whether you can house the homeless in them or not. How can you have a situation of holding 217 empty homes and be renting from the private market at great cost

I cant understand the ones that dont need work not being used but the others that need work cant be used until the work is done

awec · 12-04-2021 12:36PM

Villa05 wrote: »

Fact 1. 140 are ready to move into
Fact 2. 77 need minor refurbishment, social housing provision was exempt from lockdown measures

Total 217

It is the homeless figures that they state are misleading

Irrespective of whether you can house the homeless in them or not. How can you have a situation of holding 217 empty homes and be renting from the private market at great cost

Yes, they state that even if every single one of these properties were available it would not solve the homeless problem as they are the wrong type of property. The article also calls out there are over 2000 people/families on the Limerick housing waiting list.

Therefore, when they say Limerick council has more vacant properties than homeless people, it sounds crazy, but it is not that crazy when you actually read the detail and you can see the situation is not that straightforward.

What is clear:

1. Limerick need to get these houses up to standard and used.
2. These houses are not going to solve any housing shortage issue.

PropQueries · 12-04-2021 12:55PM

Villa05 wrote: »

Limerick city/county council has more empty houses than homeless people

Crazy stat

What’s actually going on with Limerick City? Stayed there 2 years ago and many of the city centre properties looked vacant with for sale/to let signs outside. Also a really amazing amount of empty land right in the city just gated off for some reason.

I like the city, but it really did remind me of those pictures of European cities in 1945. I’m really not saying that in jest.

Nothing but empty properties and large sites all over the city centre from what I could see.

2021 Irish Property Market chat - *mod warnings post 1*

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2021 Irish Property Market chat - mod warnings post 1