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

Surely if there is a viability issue, a prudent solution would be to tackle the input costs rather than throwing money to plug the gap.

The government have a lot of tools at their disposal to make construction cheaper and reduce land prices (the magic of taxation). But they choose to inflate prices instead. I wonder why

Its just a myth really.

Irish people majority buy houses because majority built are houses, because small builders lack finance and skills for large apartment building.

Our construction industry is rather backward in that regard.

Sure at one stage Irish people were buying apartments in Bulgaria! Its not an aversion to apartments it's an aversion to poorly built apartments.

There was never going to be HTB for second hand houses. It's woukd not make economic se se

First off it will not increase supply. Even if it did say increase supply by 20% the government ate paying 150k per extra unit coming onto the market.

The refurbishment grant is costing less than half that. There is no glut of empty liveable houses around. It woukd just ve a subsidity to existing homeowners who are going to sell anyway

That Is because you can no longer transition from being a small scale to larger scale builders. Even lads that survived the noughties can no longer get finiance to build at the scale that they did back then.

HTB would be paid on all qualifying sales. If the supply of qualifying houses increased by 20% or one in five the griss cost for all five houses is 150k but supply is only up by one house so in reality it costing 150k to subsidise that house to get it onto the .market even though tge direct cost forage house is 30k. The other 4 house owner's who intended to sell anyway there buyers got 30kfor nothing.

No there is not new stock adds to the housing stock existing stock is there anyway. Refurbishment grant is working it only in existence a bit over a year. Supply is ramping up,

Does anyone know when the Residential Zoned Land tax is coming in?

I heard Jack Chambers say in the budget that farmers could apply to have residential land rezoned so as to avoid the cost but nothing about the actual implementation of the tax. I assumed based on the fact he didn't say that it's postponed that it will be coming in soon enough.

If so that seems like a great move in the right direction, as does the increase in the vacant property tax from 5 times to 7 times local property tax.

Had a quick look at prime time last night and they had a case study of a person on disability

She recently got a 2 bed A rated home from a housing association, I was off the impression that these A rated homes would save the state on fuel allowance but it appears not

Full fuel allowance, electricity credits plus A living alone allowance. Is there any way that a 2 bed unit could accommodate 2 persons thereby having 1 adapted living home benefit 2 people.

what is the point your making? Even if it was an old house and she was on fuel allowance she would get a retrofit paid for to upgrade BER. Isn’t this where all the extra carbon tax revenue is being recycled to.

As for getting a 2 bed unit without understanding circumstances it’s hard to judge as it may be required for medical equipment etc….. On the other hand if it’s not your forgetting about renting out the room tax free as another possible benefit. But as I said without understanding the exact circumstances it’s very difficult to judge or form an informed opinion as this person may be struggling due to costs related to the disability that are not covered etc.

A rated home = C or D plus fuel allowance. Why give a fuel allowance on a home designed to operate on minimal fuel

Most working people could never afford what's on offer under social

The working poor pay the majority of carbon tax through poor quality rented accomodation which more often than not they must share to afford plus more likely than not, longer commutes to work in older cars

Don't want to focus too much on the disability side as the payments we are talking about are also available to the long term unemployed. A living alone allowance is disincentive to the recipient to accept someone to share the property which can be beneficial to both parties.

In a disability context you could have 1 occupant able to do a task the other occupant may not be able to and vice versa. They may have carers and having more in the 1 location may deliver economies of scale in administering the care they need

Does look like this, not exactly like we need to balance the books though!

I do not accept. In any budget you try to tax as well as spend. This is a common sense approach. Even at a 2 million property it's a 2.5% tax at 3 million its a 5.5% tax. It unlikely to stop someone downsizing and as you go up in that price bracket decision other than pure finance come into play.

Looking at it the seller is walking away with a substantial tax free lump sum while the buyer still has there max price but is looking at a no capital gain for 1-2 years. If its inheritors selling they have a 400k tax shield to protect them from some of the pain

What are the signals it send and what unnecessary friction will.it create.

What other proposals could the government have made. It put HTB in place until 2029( it going to be very hard to wean off from that any but stability helps.

There Is no magic bullet to fix the present housing crisis and throwing money at it is not the answer either. The whole point is to build up capacity and to utilise not in use stock.

I was disappointed that no pension of adapting not in use commercial premises in small.towns and villages as well as pushing for tge utilisation of flats/apartments over commercial in larger urban areas and give tax breaks grants to bring this fast into use. Other than that it's patience as there is no magic bullet