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

I was hired by my direct manager whos US based, and I've hired staff for my team under me based in other countries. Its not rare at all to report across countries these days.

Software engineer in Dublin €60k-105k, median €92k:

https://www.glassdoor.ie/Salary/Google-Software-Engineer-Salaries-E9079_D_KO7,24.htm

Software engineer in the US: $212k-$305k, median $251k:

https://www.glassdoor.ie/Salary/Google-Software-Engineer-California-Salaries-EJI_IE9079.0,6_KO7,24_IL.25,35_IS2280.htm

Thats the same job in the same company and 200%+ salary difference. And its broadly indicative across the entire sector, have a look at the same job roles in the same MNCs across Dublin and the US on Glassdoor.

Is this relevant to the Irish Property Market?

Back on topic

To be fair, there was a fair old softening. In Summer 2023 the YoY inflation rate was -2% in dublin and+1% countrywide.

When wage inflation is running at 5% that is a substantial drop in real terms. So many Irish people see something like that and stay on the sidelines assuming a mad 30% price drop is just around the corner. The reality is they almost never happen anywhere a! You need to jump on the small soft period but the scars of 2008-2012 runs deep in Irish psyche!

Thanks for the stats.

Just out of interest, is median home price based on sales figures? That could distort things a lot because in 2011 low valued homes could be in negative equity and unable to actually sell, 5 years on more equity built up means even if your home was worth similar to 2011 your equity means you could sell and move on.

Hmm true. I actually bought my house in 2022. It's worth about 30k more based on what's going in the market for the area. It's not much use to me as I need somewhere to live, and I don't see the house as an investment, but I'm glad that I didn't wait.

There was a story in that thread of a couple who sold up in 2022, hoping to buy back into the market in a year or so when the perceived crash had taken place. In other words, they tired to short the housing market. Crazy stuff.

Test Manager salary in Dublin €60k-84k, €68k median:

https://www.glassdoor.ie/Salaries/dublin-test-manager-salary-SRCH_IL.0,6_IM1052_KO7,19.htm

Test Manager salary in US $138k-212k, $170k median:

https://www.glassdoor.ie/Salaries/los-angeles-ca-test-manager-salary-SRCH_IL.0,14_IC1146821_KO15,27.htm

Above 200% difference again, in the exact specific role you think makes your point.

I'll stop replying on this as other posters have, but its quite clear you have no actual experience in tech salaries in Dublin vs the US, or how they would affect the Irish housing market. As everyone in this thread telling you, and the data, would suggest.

Good old Uncle Jimmy…

I don't like to say "boomers", but I strongly advise any young people these days to not put too much weight into what the hear from their older family members. The circumstances of the housing market today are not like anything that has been seen before, and just because 2007 saw record high prices followed by a crash in no way means that a crash is coming in 2025.

My advice is to buy what one can when they have the chance. Even if there is a crash, at least there will a roof over your head.

Does this apply to variable rate only? Can you get a fixed rate changed?

Sadly, a lot of people will be forever-renters through no great fault of their own.

The ESRI released a report during the week saying 100k were added to the numbers in work

Is there a correlation between migrant numbers and numbers at work, just asking as it gives a picture on whether migration is a non issue? Rather a failure in housing/governance

well if the employment rate isn’t falling then it’s either people taking multiple jobs or immigration. You can look at no of work permits issued but that only shows non EU immigrants. You won’t see EU immigrants (nor non EU immigrants that have a EU passport from parents/grandparents). And then you have asylum seekers who are allowed to work after a certain period. I wouldn’t be surprised if the no of new builds wasn’t sufficient to house the increases we have seen recently.

On the flip side a lot of these immigrants are needed to

• provide essential services (doctors, nurses, builders etc.) to keep the country attempting to function.
• Needed to feed the multinationals expansions

Another side that is not discussed is the increase in tax take (income tax, vat etc) that is generated and instead it is painted as we increased spending on x but in reality spending per head has dropped.

unfortunately due to extreme views on left and right it’s impossible to have a constructive conversation on the topic without being called extreme left or extreme right so most people will form a view (sometimes without considering all the relevant information) but will not express this in public because of fear of being labelled. But yes it is as important in my mind as the ability to build new houses.

Am I making things up or maybe glassdoor is skewed data of top earners as opposed to what jobs are recruited at. Don't be quick to call somebody a liar when you are the one using one source for your data. My view is based on friends and relative working in the USA and my own experience

https://www.indeed.com/career/test-manager/salaries/Boston--MA?from=top_sb

First I have heard of the elimination of test roles. Very important legally for government contracts and those servicing the government. It tends to be a crucial part of SDLC and clients use it to determine if their needs are met. I know people working here and there and the salaries are not that different generally but in certain areas and certain companies pay way more. The title maybe the same but the work is not. There is a huge amount of Indian people coming over here which are probably keeping salaries down here. I have been in a few meetings and been the only Irish native there

Should we change the name of the thread? Perhaps rename the forum too?