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

Our population is rising directly because of immigration. Indeed, in the last few years, inwards migration has added nearly 100k to the population annually. To put that in perspective, this is the population of Galway or Limerick. Services are not understaffed; they are over subscribed.

Look, as I've always maintained, there is a healthy level of immigration that can and should be be permitted. Whatever it is, we are beyond it by many thousands each year.

"Ireland is not a populated country; there are more cows than people ffs."

I'm pretty sure you're speaking rhetorically, but this isn't true…

Hmm, I actually got my cow-figures from the CSO, but I think I misinterpreted the figure as I was only looking at dairy cows. Derp

Either way, the number of cattle doesn't mean much….unless the state gets the idea to them a grant to start buying their own sheds! :D

About 80k was the immigration increase last year.

The remaining 20k population increase was from births minus deaths.

Agree that immigration needs to be aligned with infrastructure increases, but as long as people are coming here to work and contribute, we should aim for our infrastrucrure to keep pace with those numbers.

Remember also that we have a huge pension black hole and the increased labour force is helping to plug that gap. The State Pension shortfall is over 270 billion, currently.

There are 7.1 million cattle in Ireland, as of last summer. Human population of Ireland is about 5.4 - 5.5 million.

We are not anywhere close to being a heavily populated country.

How many farms exist just to farm grants :/

I have said previously not everyone coming here are contributing as you mentioned.

Let's take an example a Pakistani comes in on a master visa, gets a job in a MNC at low level (doesn't pay tax 55%), next he calls in his wife and kids. From 1 person you have now 4!! Their wifes never work Fact! The creche and school suffer as resources are used on these new comers. The wife doesn't have any special skills unless you call nail technician or hairdresser a critical skill, no offence. Now you have 4 people, not sure how they could live unless they get supplement from welfare, hap etc. These people now need a GP., more pressure on health services.

There are so many cases like this.

Fully agree! I know one thing, if Trump did put a stop, to this tax haven, the collapse would be unbelievable… We have irish emigrating, for several reasons, but many would still live at home, including many nurses and in similar areas… To be replaced by? exactly like the description above, one nurse etc, comes over and a family of 3 in tow , say two kids and the husband or wife, one wont work and then the two kids… Its a total joke…

Very true, but then all of our youth would be emigrating as there would be no jobs for them.

The other difference is, the 30k that come home every year currently, would not be coming home at all, because there would be no jobs to come home for; regardless of how cheap house prices got.

If they are working and paying tax, they are contributing.

You cant tell an MNC that they cant employ a person because they arent paying the top rate of tax. MNCs need an environment in which they can grow and remain agile with their workforce.

Creating an environment where the MNCs, who incidentally pay 85% of all our coporation tax, are not allowed to hire a graduate because they are on a low salary, is a sure fire way to push those MNCs out of the State; taking their corporation and income tax with them, not to mention the spend in the local economy and the thousands of indirect jobs they sustain.

doctors, nurses and teachers, a huge amount of the people that we need here, who are currently leaving in their droves, would still likely stay. The state would need them, regardless. Like the last recession, you may have hiring freezes or miniscule pay reductions. HOWEVER if the fools that run the place, put a decent amount into a rainy day fund, there would be no need for this, the amount they are putting in that rainy day fund, is an absolute pittance however…

Do you have a link to that stat of 100,000?! and what are many of the people that could be building residential, working on ? data centres and commercial property, which we are saturated with…

Same in Galway. The docks in Galway include huge empty spaces. Could be used to build houses, apartments, and amenities in a prime city centre location. Bridges could be built across Lough Atalia to relieve associated excess traffic. (These should be built regardless of houses, to relieve traffic.)

Are those areas zoned for planning and have applications been approved to build there?

It could be that the costs of construction aren't worth the return, since the sale price in Galway is lower than in Dublin.

It isn't about levels of understanding, its about paying the price that secures the asset.

Again, if 100 people can afford 600k+ and there are only 50 homes available, then its likely the homes will sell for over 600k.

Any one of the buyers can pull out if they dont want to pay more than 600k, but there will be others that will stay in the bidding process and offer more than 600k.

A house is worth what people are willing to pay for it.

With record houshold wealth, a growing population and more demand than supply, of course prices will increase, regardless of what the ESRI or anyone else says is the "market" value.

There is one major winner from the current situation, the banks. Buyers are borrowing more money than ever to buy homes due to the rising prices. And the same buyers can now borrow more multiples of their salary to chase the same scare hosuing stock. Banks will make far more interest over a longer mortgage term. People are buying homes at an older age with longer mortgage terms. Forget about the pension crises because those in the mid to late 30s buying in Dublin right now won't be able to afford to retire until they're about 75!

Government decisions have been beyond stupid over the last 5-10 years. Every single decision has driven up house prices. Help to buy, rose house prices. Central bank allowing people to borrow 4.5 times salary, rose house prices. Not putting sensible limits on immigration, more people competing for the same housing stock, rose house prices. Populist rent control measures, rose both rental costs and house prices. The government would be better off doing nothing. Every single measure they have implemented has resulted in rising prices.

We're looking at a lost generation as a result.