https://www.businesspost.ie/news/uk-fund-snaps-up-85-of-dublin-17-housing-estate-originally-aimed-at-individual-buyers/
I though they banned this from happening?!
No that's not what's needed. This is the money trap governments are falling for world over meanwhile their real economy that's people living and working in their own towns and cities suffers.
This is an ideology and it's gotten out of control. Every aspect of your life is a base line commodity you can breathe without someone investing in it. And the someone is usually people who have the means to. Meanwhile the middle class is stripped bare, but no they're told its their pensions that will be impacted unless excess growth is fuelled and to stop it your pension will be gone.
Come pension time their pension is already diminished and the cost to live is banana's.
It's an ideology it's out of control. The 'market solves' is utter bollix
Can you provide stats on that?
Would like to see the breakdown. According to the below the majority are unemployed
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.housingagency.ie/sites/default/files/2021-03/SSHA-2020.pdf&ved=2ahUKEwipppuf68-DAxX-SUEAHdmAAtMQFnoECBoQAQ&usg=AOvVaw2sKmZ5eCD9QLxAluIfzZBq
I said some... 'some'. I know very well that the majority of families do. I came from one of them. There are some that don't. And it's sickening.
If you live in Ireland you pay taxes, people from social provision pay the bulk of their taxes via VAT.
No ones avoids tax it's a fallacy
Surprised people are surprised with this.
Not contributors v net recipients.
If you think this is good for renters you are deluded. Turkeys voting for Xmas.
They outsourced it to save money, then defeated any purpose in doing that by subsidising it by more than they saved in the first place.
As Leo said, blushingly, to the vulture funds over Zoom: "Stick with us"
I agree with you. The RPZ makes it so new new rentals have no rent limits. So its a way around RPZ and partly why it's hasn't stopped rents rising.
But for Reits it's a one trick pony. You only can do it once. Then you are trapped and at the mercy of interest rates and future govt interference in the market.
We've started to see some older Reits wobble.
Dermot Desmond knows.
Any clown that tells you this is good business for a society as it brings more rentals to the market is just that. A clown.
It is stupid and the Government can put in legislation today if they want to stop it. They are wilfully complicit in this outrageous carry on by their inaction.
It's like being managed and ruled by a foreign government at this stage
We are being actively priced out of the housing market by the government.
FFG
Facilitate Foreign Gain
😁
This story has been deleted from all the publications whatever is happening.
Oh you are referring to the vat payers with the free money they get...
Unlikely for this to happen as property, under capitalism, has always been treated as a commodity. It's a dangerous move - with greater economic impacts - to change this.
The solution is to increase supply. Build. Build. Build. Also push for more guaranteed work from home for employees that can do so - this will allow for a more balanced regional development & take the pressure off Dublin. The main impact of the housing crisis is the Dublin area.
Increasing supply is easier said than done. Labour being the first hurdle. Land isn't an issue but bureaucracy is, objections by local reps (of all political parties) is common. Also developers aren't as pushed about developing as the margins are not attractive yet. Sitting on development land needs to be discouraged.
FYI the article has been removed from nearly every news outlet.
Was it fake news or just hush hush?
That is very curious.
Why would it have been deleted. Was the original story incorrect.
Or just wrong info
https://archive.is/20240108171758/https://www.businesspost.ie/news/uk-fund-snaps-up-85-of-dublin-17-housing-estate-originally-aimed-at-individual-buyers/#selection-635.0-635.86
2 links for the article still working.
I do not believe so
The info is on the property price register:
https://www.propertypriceregister.ie/Website/npsra/PPR/npsra-ppr.nsf/eStampUNID/UNID-89ED4775E0D7274380258A9200603534?OpenDocument
Its also advertised on the occu website:
https://occu.ie/locations/belcamp-manor-dublin-17/
Original Brochure from Knight Frank:
Works out at approx €477,777 per unit, which is well below the value of those type of houses in that area.
Has any government TD or minster come out yet to say this is terrible and something needs to be done, and if only something could be done about it?
Schemes like this are always a way to fleece the taxpayer who end up subsidizing many of the renters and it does nothing to reduce new home prices or rent prices.
Meanwhile existing law abiding landlords are stuck with 2% RPZ rises and its no wonder many leave when they see something like this happening.
Very fishy the lot of this. Looks like the properties were bought in bulk but the company Occu or SW3 capital or whatever are merely the management company for whoever does own it. Plenty of heat behind this publication already especially now after it's been taken down. The truth will come out eventually. Absolutely outrageous to be allowed undercut first time buyers and then charge such extortionate rents like this.
That's usually the main reason when a story is pulled by a newspaper - they got their facts wrong and published the wrong info (potentially even libellous if they've accused a company of something that hasn't happened).
No person or company should be allowed buy more than one property in an estate. And bulk buying should be restricted to no more than 25% of estate in total if by a charity or government. On the face of it, a new law should be simple enough.
Time for Sinn Fein to propose something similar and lets watch the government vote it down.
Its little wonder Sinn Fein and hard left will some day have a majority in the Dail.
Pulling the story in the manner it has been pulled is only going to bring more heat on this.
The company involved has Irish directors. They need to clarify their position with a short statement. These articles are either true or they are not.
If there is a political link there, even so much as a photo at an event it is the nail in the coffin for this Govt and SF are in. These properties are in Minister O'Brien's constituency to worsen this again.
The anger out there over housing should not be underestimated.
Thanks for this.
The quoted price for new builds excludes VAT. That would bring it to roughly €543,000. Is that the market price for those?
short term business speculation.....should work just fine in our current property situation!
No person or company should be allowed buy more than one property in an estate.
Used cars are expensive and supply is low.
So there should be a law where no person is allowed to buy more than one car.
Considering similarly sized houses across the road in Drumnigh Manor are going for €675,000. I would think €543,000 is to low. The original article said: 3 bed houses with "a study" was for €560,000 and the 4 bed houses were €625,000
So they got them at a knock down price I'm guessing.
A lot of hysteria here.
The houses were well over half a million so hardly ftb territory and only 3 sold to private buyers. Looks like they were on the market for a year before this deal was done so possible sales were affected by interest rate rises.
Developer able to move on, rentals come to the market. In terms of housesharing 800 p/m per room would seem fairly in line with the market for a nice area.
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