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

Going back to the linked article, commencement notice is a notice of intention which this year removed some significant costs. There is no obligation on a completion date infered from a commencement notice, therefore assuming 40k completions this year by the researcher is a poor firecast

If tax evasion is your game, social housing in Ireland is your redemption

The applicants were a rush to qualify for the waiver, with the waiver extended the rush will be relaxed. It'll be like planning permission with only a fraction progressing to build

Short term the refurbishment grant is an incentive to leave property empty without a significant tax on it, also it's paid after the work is done so it assists those that may not need it

Trapped landlords on low rents leaving was highly predictable particularly in Limerick as it was one of the last cities to recover from the last crash. Rents approaching Dublin rates in Limerick is a massive risk to jobs in the locality as many employers had reasnoble accommodation costs as a big factor in locating there. Most Limerick jobs require people to be present so WFH does not provide an escape

State needs to immediately move away from grants for purchasing to rentals open to every income level with rent set at a % of income prioritising not the social housing list but people that need to be present at there workplace 5 days a week

We are jeopardising everything with our current housing policy

Wild west at its finest

Did you see the car parked outside the digital recreation of the social housing development. The owner must be the person collecting the rents

Because the room is too hot, the solution is to turn off the heating, now the room is too cold.

The banks were saved to ensure the finance was there to fund the infrastructure the country needed. If they are not allowed reasnobly to lend, what was the point of saving them. Adjust the heating to the room temperature, not turn it off

Because any modern economy needs a functioning banking system. That's why they were saved. Take it away we wouldn't have a housing crisis because we would have mass emigration.

As a result of the crash the ECB and Irish Central bank(ICB) have learnt their lesson. Outside finance is required because if the ECB and ICB do their job Irish banks will never be allowed to be as exposed to the Irish property market again. The fact investors from outside the state are required isn't news and has been obvious for a number of years. It's also not a bad thing. It spreads the risk outside the state and means if things do go bad we don't end up having to bail out the banks again. We also had a huge hole in the government finances due to an over reliance on property related taxes. Remember that hole in the government finances ended up costing more than the bank bail out.

Remember property can be a very illiquid asset when things go wrong. Check out 2008-2012 for an idea of how illiquid it can be. It's naturally a risky asset to invest in at least compared to other investment types that are more liquid. Any half decent regulator and government needs to factor that in. The Irish banking crisis is a lesson when the government and regulator don't heed basic financial facts.

All you are advocating is for Irish banks and state to repeat the mistakes of the early 2000's. The current housing crisis is partly a legacy of those mistakes. There wasn't the money in the private economy to build houses and it would have been political suicide to build houses in an era of ghost estates. Go back a decade plus on this forum and you will see the sentiment at the time. As a result subsequent governments have been playing catch up.

Now that's not to say things couldn't be done to free up banking capital to lend but the main one would be politically very unpopular. That is making it a lot easier to repossess houses of people who default on their mortgages. Do that and you reduce the risk premium associated with Irish mortgages. That would reduce the amount of capital reserves required from domestic Irish banks and would encourage foreign banks to enter the Irish mortgage market. This would increase the amount of money available to build houses. However making it easier to evict people who don't pay their mortgages is unlikely to happen any time soon.

Building houses isn't all about money, you need skilled workers, improve the speed at which developments get planning permission etc etc. If you don't have enough workers and the other elements sorted more money will just mean higher prices at least in the short term.

What type of septic tank treatment unit is he going with?, 5000 grand seems good value, there must be great soakage there.

Not the best drainage around where I am in the NW and the councils requesting seriously expensive treatment units with peat modules, all in all costs could run close to 15,000+.

I did notice the other day jobs in financial services advertised in Valentia Spain. Recruiter looking to recruit here with relocation package on offer. Wonder if this is due to the fact that there is no shortage of accommodation in Spain, good solid spacious too.

Possibly correct. However, without those same institutions and investors, would the need for those fields to be anything other than empty even exist?