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

But 90% of landlords in a recent poll said they would just leave them empty?

The govt created this mess. Landlords didnt.

The Govt didnt build public houses, so there is a shortage.

Thry then try and penalise the private landlord by disallowing them to rent their propery on a short term basis and locking in their rent rises to a fixed percentage.

The landlord is penalised for the governments inaction on social and public house building.

Govt then proceed to balance almost all of the risk of a non paying tenant onto the landlord and then wonder why landlords are exiting the market or leaving property empty...

What other option reaosnable option would a small time landlord, whom may well have a mortgage on the property concerned, realistically take?

Of course they will take it off market or sell!

The small time landlord should not be the fall guy for government inaction and if the govt wants landlords to return to market, here is an idea....offer them some incentives and protections from non paying tenants.

AirBnB does bring a lot of money into local economies.

it plays a pivotal part in enabling tourism and whilst the govt is renting out private hotels in small tourist towns, a stranglehold on AirBnB type tourism rentals is a death knell for local tourism and hospitality jobs.

AirBnB and short term tourism lets is all those places have left to survive on.

I am not sure if https://mynest.ie/pricechanges/Dublin captures all drops though. I think on (myhome at least) relistings at a different price will not be captured there. Here is an example

This has dropped (asking price) now of over a 100k but it doesn't show up on mynest. I am guessing there are more examples

The simple solution is through the rent caps. Along with a vacancy tax, the rent cap for that property decreases month on month. Say each month it goes down to 99% of the previous months rent.

Which would be perfectly reasonable - if they can't rent it out then the current level must be too high anyway.

Agreed. But it is not the jov of small time AirBnB landlords to fix the crisis!

The govt needs to build the houses.

last year, the state built a grand total of 0 social houses in DLR.

DLR has a populstion bigger than CorK City.

You have the right argument, but you are blaming the wrong people.

Rte interviewing an accidental landlord who's telling their sob story about having to sell up and exit the market.

The landlord is English... RTE trolling the nation 🤣

This depends on where the property is, a lot of Airbnb’s are holiday homes in tourist towns that the owners let out when they’re not using them, especially towns poorly serviced by hotel accommodation, look at the likes of Tramore in Waterford, population of just over 10,000, but in the summer over 600,000 visit, there’s only two properish hotels, the sands and the majestic, three if you count O’shea’s, but that’s just rooms over a pub.

You ban airbnbs and towns like tramore will be crucified, if ever a town relied on the tourist season that’s one, plenty others around the country, these airbnbs won’t be converted to LTR’s as I said they’re holiday homes give or take, mostly owned outright, they just won’t be let out to tourists.

On a side note on that why do we never hear anyone wanting to repurpose caravan parks and put them into use, surely if going after holiday lets, then this is obvious? Seeing as there are far more mobile homes in place that are serviced and there are even loads of them around Dublin?

I'm aware of several former council houses that are full time air bnb's on the West Coast in a popular town. That towns population fell below 1000 recently, loosing its status as a town, resulting in the withdrawl of many public and commercial services. Hotels are idle and falling into disrepair

Tourism is hampered by the lack of housing for predominantly low paid tourism services employees

Go back 1 decade and you will remember that the west coast was ghost estate central. What happened all these homes. Did we allocate so many to tourism that we priced out the people that live there.

With WFH embedded in many workplaces, does it not present the opportunity to repopulate these areas with workers on sustainable incomes that breathe life back into these towns 52 weeks of the year rather than 12

Don't be under any illusion that airbnb's and there owners are the saviour of these areas

How did towns like Tramore survive before Airbnb started in Ireland? It has only been popular for about 10 years here.

Don't you worry the state is funding new office buildings to ensure we avert a shortage

No mention that this site dominated by Georgian architecture was allowed to fall into vacancy and dereliction

Limerick City Council record in development projects should provide confidence that this project will be a success

I see your point but again, that issue is rooted in govt house provision policy.

If the govt built enough social houses then tourism workers can avail of those properties and are therefore able to provide services into the town.

if the town has 100 council houses, govt sells them all off at a discount to the tenant, its then the tenants perogative to rent it out/AirBnB/Sell etc as it is now their property. Bought and paid for.

The break in the chain is that the govt needs to build 100 more social homes to replace the stock it removed, or, if it cant afford to build 100 new social homes, dont sell the stock in the first place!

If the hotel is run down, is that not because either a) there isnt sufficient tourist demand or b) the price point for the hotel is too high vs AirBnB and other accom.

Thats just market economics.

Look at Dublin. AirBnB everywhere yet there is a hotel opening in the city every 2 or 3 months and has been for the past 3 or 4 years. new 150 bed premier inn opened last week in town as an example.

I agree that WFH can help breathe new life into rural areas, but those fully remote jobs seem to be quite rare, meaning you still generally have to be within bolting distance of the office if you are in 2 or 3 days a week.

Maybe its chicken and egg....if you are fully remote you can move down the country. But the town you are looking at is desolated and unnatractive. So why move from Dublin where all the infrastructure and facilities are.

Its a tough one to get right.

If we had sufficient hotels in the city then we wouldn’t need alternatives. Hotels don’t have cleaning fees or rules for stripping beds before you leave.

I often feel the anti-hotel astroturfing online is paid for / facilitated by hotel alternatives.

Hotel alternatives have very large and well funded lobbying teams.