Irish Property Market chat II - *read mod note post #1 before posting*

Browney7 wrote: »

https://www.myhome.ie/residential/brochure/124-leeson-street-upper-donnybrook-dublin-4-d04v4p6/4505436

It makes this place look a bargain!

It’s a shame that those houses on the “island” have no gardens. My friend lived in 1 for a year and the garden was even smaller. Family home with no garden not ideal

DataDude wrote: »

Doesn't look in terrible shape to my untrained eye. I'd guess €200k and you'd have it in great nick. Would start getting pricey if you wanted to extend as well, which I'm assuming the buyer will.

I had 200k to retrofit and finish what's there which is probably low in the current climate. If you were doing a Dermot Bannon box out the back it would be what, another 100k? Planning issues likely too you'd expect unless you kept it small

DataDude wrote: »

I'm not so sure on €100k for any sort of extension unless it really was tiny. You'd also want to square off the house by building over the garage (quick scan of the street and seems most have done this).

My guess would be that most people bidding on that are probably budgeting another €400k-€500k to retrofit and extend. It would be really incredible once done though with a large south facing garden in Rathmines/Dartry. I've seen worse value houses out there!

There ya go with the garden again!!

AlmightyCushion wrote:

So the squeezed middle get shafted yet again. If you are a single person earning over €58,000 a year or a couple earning over €75,000 a year then though tits, no housing for you.

I believe those limits were set in 2011, I'd expect change soon, but not holding my breath

Ireland, the European home of tech giants like Apple and Google, is looking to reach a compromise over global taxation that recognizes “the role of legitimate tax competition,” the country’s finance minister told CNBC on Friday.
...

“What we are going to do is engage in the OECD process very intensely across the coming weeks and months, and I do hope an agreement can be reached that does recognize the role of legitimate tax competition for smaller and medium-sized economies,” Irish Finance Minister Paschal Donohoe told CNBC.

https://www.cnbc.com/2021/06/18/ireland-wants-a-compromise-on-bidens-15percent-global-tax-plan.html

This is actually a really cunning plan - embarrass the MNCs so much for operating in such a joke of a country that they up sticks and leave for a country run by adults, not cargo cultists with bones through their noes. This will free up a ton of houses in Dublin and the prices might even fall.

Worthy of Blackadder.

Its weird how quick the powers that be have moved with the tax rates although i'm sure years of ground work were required.

I remember people here laughing at Props last year "every time a new president gets elected nothing ever changes" but this time it does feel somewhat substantial unfortunately for Ireland.

schmittel wrote: »

Again fair enough. But then equally the projections used to claim that demand will continue to outstrip supply are wild speculation and conspiracy theories.

As you say, the truth is nobody knows.

It would be wild speculation if we speak what's to happen in 5-10 years with demands/supplies. But we know we know what is happening now, and have an idea of near future, in terms of supply/demands.

schmittel wrote: »

If those 460,000 are living with their parents because they are unable to afford a house at current prices, that is not demand but it is need as pointed out by another poster previously.

My point is that if you say any sort of forecasts re future FDI are wild speculation and conspiracy theory, then surely any sort of forecasts re immigration are also wild speculation and conspiracy theory?

And the idea that we need to build 30k units a year are in part based on immigration forecasts.

So how should they forecast build requirements? It’s not like a tap or assembly line. As we have seen it take years to build up capacity. They can’t wait and see every year.

And regarding the 460k adults living at home what does it mean? 18+? 21+? 25+?

MacronvFrugals wrote: »

Its weird how quick the powers that be have moved with the tax rates although i'm sure years of ground work were required.

I remember people here laughing at Props last year "every time a new president gets elected nothing ever changes" but this time it does feel somewhat substantial unfortunately for Ireland.

One word; Brexit. The City of London and Crown dependencies facilitate significant shady financial activities, tax avoiding being one of those activities. You can bet that Ireland leveraged their close relationship with the UK to have some clout in defending our own dubious practices and of course the UK is able to stand up to the French and Germans. Without them in the EU we are in no position to defend ourselves as we are too reliant on the EU, moreso than they are on us. Just think about there being an Irish exit from the EU - would we have been able to get some compromise from the EU the way the UK did?

Whatever chance there is to fight the G7 headline corporate tax rate reform, we are snookered when it comes to EU collective action as we are just going to have to take whatever we are given from the top table.