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

Do banks have a minimum mortgage amount they would lend?

E.g. House cost is 650,000....deposit of 550k.....would the bank give 100k mortgage??

Thank you....

Cost rental is just the higher priced social housing for the fleeced middle.

Yes, of course...why wouldn't they, any chance to make a profit is not to be sniffed at.

-Just go to viewings.

-watch sale agreed’s and see how quickly they appear in Land registry.

-barn elms & Hampton grace park new developments all selling out at 2022+x prices etc.

-follow auctioneera, offr.io and sherryfitz bidding on log in

What is the actual rate for cost rental determined by?

Cost of what?

Perhaps it is irrelevant as you say, we will see if that is true as interest rates continue to increase. But will there be as many cash buyers as defaulters? Perhaps so, if Irish passports are advertized to Chinese millionaires. The Irish central bank like all central banks are supposed to be independent of governments yet they seem to be compliant. That said, if things get out of control due to rising interest rates and sticky inflation, the main central bankers like those in the ECB, and the politicians will start blaming each other.

The 20% deposit was only for second time buyers. It remains 90% for first time buyers. Mortgages are now way dearer than 6 months ago. Ppl will struggle to borrow 3.5x and meet stress test of +2%.

The banks have just rebuilt their balance sheets and profitable. There is no incentive to take excess risk. In fact if the competition has reduced as you say it means they need to take less risk as there is enough business there.

The cap on bonuses only lifted to allow max bonus of 20k. You think senior management in banks are going to take big risks for less than 10k after tax?

The house price growth has not been credit fuelled like in last crash. You just had very cheap money due to low interest rates and strong economy. Economy remains strong but interest rates have risen and that seems in recent months based on cso data to drive a decline in house prices. That also relates to house prices agreed before rate rises so I suspect the full impact of rate rises is still to be felt.

Ballyman road Enniskerry. 2000 units being built around this site. Check out Fassaroe SHD.

I'm pretty sure they were here before the great financial crash and a big reason for them being here and expanding was availability of skilled labour from the Labour party policy of free/reduced cost third level education. This policy is under threat from property gouging students, in effect replacing fees

Many of these companies are on record of expressing concern at the price and availability of property. The property industry should be working with these companies not trying to extract the maximum for short term gain over long term pain.

Both should benefit each other rather than price gouging at every available opportunity.

Limerick was decimated in the GFC, now it's well above the Celtic tiger peak with its biggest employer an investment bank that was convinced to come to Limerick from Dublin which it was leaving due to high costs. We are running out of Limericks and the next move will be abroad.

Complacency is a very dangerous trat

In summary

I was a landlord, I don't want to be landlord anymore. I don't want the state to be a landlord because the developers will ride the taxpayer. I'll be a landlord again if I can ride the taxpayer

Bought a holiday home through a similar auction. Has doubled in vale in 4 years and there was other bought cheaper than me after that in same development.

I was at a BidX auction in 2015. Saw a young lady ( mid 20's) buy a two bed apartment for 28k in Limerick it's worth 150k minimum today. She would be renting otherwise like many other and cribbing about the price of property.ot was the same price as a new mid sized car at the time