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

you cant blame them either

The real questions is how many are actually planning on building anything, a good chunk probably just want to flip the land with planning for a massive profit.

Pretty much guaranteed planning will crawl to a halt once the SHD process finishes, the whole reason it was setup is because local county planners reject everything and its basically down to their personal opinion!

I can’t thank this post enough. What’s worse is that the ill feeling towards landlords will get even more hostile once/if a certain political party get into power. We’re entering into a very, very dark place in our nation’s history.

90k*3.5 plus at least a 10% deposit is higher than the median house price in several parts of Dublin.

I think you will find what the post is referring to. It is what those on the "left" are proposing. If those in the centre/right can't improve the situation by encouraging increase in stock with tax incentives etc then enforcing what you want which is what the "left" leaning parties plan on doing is not going to improve the situation.

The politicians are trying to please everyone and are pleasing no one. If those on the left think they can dictate an unfavourable environment in the property sector and not expect the stakeholders to react is either naive or stubborn.

....again, this is an over simplification, theres clearly something catastrophically failing in regards supply, and not just in the dublin region, and this has been occurring since the previous crash also

It's 3500 sq feet it's a substantial residence. While the furnishings are not included, the fittings will be. Builders finish on such a house would be in the region of 7-800k. The Aga probably cost 10 k+, the kitchen 30-50 k. The marble fireplaces 10-15k. The bathrooms are not big standard either. While decors are a matter of taste the finishes in the house is quite good. The patio and hard areas need the touch of a power hose and the pond a clean out but the rest of the outside is quite good.

While furniture is not included in any such sale there may be certain items the owners are willing to negotiate on. I will imagine the owners are downsizing.

Hard to see such a house not being worth 1.5-2 million even in an average market.

I do not think they do in general. A couple with no children is more likly to have higher childcare costs throughout the lifetime of a loan than a couple with two five year old children. Where they might chip away is in not giving you an exemption to take you to 4 X income. The 4 times income takes you to virtually a 400K property. Such a couple would have an income of 5400/month. Living frugally for 12 months could see you saving 30K+in 12 months.

Childcare costs would reduce a mortgage massively as it shrinks your disposable income and for the same reason child maintenance costs for people separated is a major obstacle to housing. You could live frugally have a deposit get a 4x income exemption and still not get a mortgage because of it. Just go onto any mortgage calculator and play with the variables to see the actual impact.

Turkey has been a basket case for the past 10 years running massive deficits which have been financed issuing bonds in foreign currency (USD, EUR) which means they can’t devalue their currency easily. On top of that they have political interference with their central bank which is stopping them from defending their currency.

Ireland is in a totally different scenario and has been able to borrow at ultra low rates and in the currency used to collect taxes.

Building new infrastructure is always good as long as it needed and can be afforded by the country

It's worth looking at the MoM index. Flat overall since circa August and now heading down, principally driven by decreased asking prices in cities.

Perhaps that extra savings/bank of mum and dad heat starting to die down and we're back to bouncing off the LTI limits.

It adds credence to objections on affordability grounds. We started this cycle by banning bedsits, now it would appear it would be the only thing that the majority could afford in our capital city

It is the rent controls and regulations that are driving them out of the market. SF want a rent increase ban for 3 years and introduce even more regulation which would just drive more out.

Would more stay if problem tennants could be removed promptly and taxation was more balanced.

These are issues for both landlord and tennant

At this stage anyone who is not already back is not going to return. Its pretty much two years down the line and many will have already established new lives overseas.