Sweet.Science wrote: » Builders have no interest in building for the council for various reasons . Also local resident associations have way too much power in stopping housing . Especially in certain postcodes Even a SF TD stopped one this year
mcsean2163 wrote: » Another estate sold to a REIT.https://www.businesspost.ie/houses/global-property-investment-firm-buys-most-of-170-home-estate-in-kildare-783922ac?auth=login Apparently population increased by 50k 2019-2020, meaning plenty more scope to rent at exorbitant rates. Not sure where this is all going or when the roundabout will stop
Amadan Dubh wrote: » Yes exactly, it assumes there is a conveyor belt of people to pay €2k+ per month on rent or the State to step in where the conveyor belt slows or stops. Exactly like the 00s when the only way was up, just look at the exuberance of the stock market!
yagan wrote: » And yet such investment gave the vast majority of this society a chance for social stability. Even businesses need social stability.
cnocbui wrote: » Socialist gobbledyspeak at it's finest. The home ownership rate is 51% in Germany. They seem to do fine, despite the 'social instability' of lifetime renting.
yagan wrote: » We don't have the same security of tenure laws as there.
Bass Reeves wrote: » We do not but neither do we have situations where LL have to jump through hoops to evict non paying tenants. As well smaller LL find it harder to write down costs associated with the business. Deposits are often in inadequate to cover damage done especially in areas where rents are sub 1k/ month. In a lot of countries you rent the bare walls and floors painted magnolia or white you give back in the same condition. You maintain the property for the duration of the tenancy.
Spark Plug wrote: » There is very easy way for government to stop private equity funds in their tracks, change the tax laws. Most private equity funds use ICAV fund structures to purchase these assets, the main benefit is zero tax paid on rental income. All Pascal needs to do it amend the tax law to say any income from residential property is subject to 25% tax. It would stop said funds and I’d bet a good few might reconsider their recent purchases which would bring some much needed supply to the market
Bass Reeves wrote: » Its peculiar that you recommend this. 6-8 years back we had a large lobby pushing to get funds to invest in property and bring in long term rentals. I made the point that these funds would struggle to cope in the Irish rental market at the time. I also pointed out taht there costs for short term rentals would be higher than smaller irish LL's. So now after encouraging them in we want to create change the same laws tp create a tempory property price blip that will result in a complete halt in apartment building and may reduce the size of the construction sector at present
Ozark707 wrote: » But do we want them here at the expense of them charging us exorbitant rates? Take a look at the fist few pages on daft rentals. One new fab development after another. Quite a number have been there pre covid and they couldn't let them then so basically there is no chance now as the price is unchanged (from what I can tell). Now it seems that the funds have copped onto the fact that the private market won't supply the returns they want so they are now tying up lucrative deals with the councils instead. I don't think this will change however.
Bass Reeves wrote: Its peculiar that you recommend this. 6-8 years back we had a large lobby pushing to get funds to invest in property and bring in long term rentals. I made the point that these funds would struggle to cope in the Irish rental market at the time. I also pointed out taht there costs for short term rentals would be higher than smaller irish LL's.
yagan wrote: » What long term rental were brought into existence to encourage this policy you mention? It seems investors like pension funds have piled into rental yields as an alternative to low bond rates and low dividend returns.
Marius34 wrote: » I believe the problem is, that there are many who wants changes, but don't understand the consequences, until it happens. Some may have been looking 6 years ago for professional landlords to invest in Irish market, didn't think that they won't be cheap.
Mad_maxx wrote: » tenant protection is stronger in ireland than in germany , in germany there are consequences for both not paying ones agreed rent or damaging the property you are renting
Cyrus wrote: Also we now have the institutional landlords that everyone was crying out for although now it's a problem it seems ?!?
Wanderer78 wrote: » Both landlords and tenants are becoming more exposed overtime, both require protections in order to create a functioning market
Cyrus wrote: » Well we now have the professional landlords everyone was seeking so a great time for some amendments I'm sure long tenancies are desirable for these landlords.
Hubertj wrote: » https://www.myhome.ie/residential/brochure/bunavalla-caherdaniel-co-kerry-v23-y045/4498808 This is in 1 of the most beautiful parts of the country. Real potential to create a fantastic gaff.
mcsean2163 wrote: » 5 acres in the middle of nowhere with planning permission for €690,000.... we have to be near the top of the market. I'm assuming, 6 years ago, they'd have been lucky to get 100k. Madness.
Wanderer78 wrote: » speculation is becoming more a problem under such conditions, larger investors probably have more interest in flipping, so both positives and negatives
Cyrus wrote: » So we don't want professional landlords ? What do we want then because I'm not sure I know.
Wanderer78 wrote: » what we want and need, can be two very different things, we certainly need a level of professionalism in our markets, we need equal protective measures for both landlords and tenants, but we must be extremely wary of the dangerous extractive elements of these markets. if we allow these highly extractive elements dictate our markets, which is the norm, it ll more than likely lead to further deterioration and dysfunctionality of our markets
Ozark707 wrote: » We have decided that we are prepared to pay way OTT rates to go down the institutionalised route. This doesn't have to be framed in a black or white manner. Once the contracts are signed we are goosed and we are just copper fastening a terrible solution we are locked to. When will we ever learn.
cnocbui wrote: » I suppose there is an immense premium for sea fronatage. I'm selling a lot more in Connemamara for roughly a third less.
