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

CUrrrntly renting. In a house share a long time so rent isn't ridiculously high but still not how i want to live.

Looking around Stepaside, Ticknock, Sandyford etc.

I had a quick check on the Deloitte income tax calculator that says the effective tax rate on your gross income if you earn 70k (excl pension, BIK etc.) is 29%. And you'd be talking about people in the top 20% of earners by salary nationwide at that level as far as I'm aware.

I think it's a fair point to say young people that emigrate would not have alternative earnings where they pay half their salary in tax if they stayed. Regardless of what the marginal tax rate is at the top band.

Fair enough regarding the facts of the actual marginal tax rate. Can't say that I am directly familiar with tax rates in different jurisdictions but I think the majority of young emigrants people refer to in these discussions are on low to median wage levels.

The only place where I'd expect tax is the determining factor for moving there is UAE or similar, where they pay no tax.

So your budget is 390 ?

I wouldn't dream of going out to kildare, but there seems to be loads of options.. .

Buy a semi d... put up studio in garden, 20k investment, e1000 a momth return and youre not sharing your house...

Check out this property I found using Daft

Check out this property I found using Daft

https://www.daft.ie/for-sale/semi-detached-house-48-season-park-newtownmountkennedy-kilpedder-co-wicklow/5913995

https://www.daft.ie/for-sale/end-of-terrace-house-65-durrow-road-dublin-12-kimmage-dublin-12/5987702

Check out this property I found using Daft

https://www.daft.ie/for-sale/end-of-terrace-house-65-durrow-road-dublin-12-kimmage-dublin-12/5987702

Check out this property I found using Daft

https://www.daft.ie/for-sale/apartment-apartment-8-corrig-hall-ticknock-avenue-ticknock-hill-sandyford-dublin-18/5960849

I actually viewed a few of these on Saturday. Corrig Hall had an asking price of 360k and the bidding was at 440 yesterday when I spoke to agent.

Everything is going between 30 to 80 over asking and iv only been looking at 2 beds. I dont know, I think I need to take a break. Its not good for mental health after a while!

There are loads in bray... on the coast, dart, near m11, greystones. Infinitely better than kildare... also one in carrickmines , below...

https://www.daft.ie/for-sale/property-28-beech-house-carrickmines-green-carrickmines-dublin-18/5786229

A few of my mates, put up apartments in their parent's back gardens. Its one of the only ways, you can save... I don't care for anyone who comes on to say it's illegal... you go and blow all you want on rent and mental property prices and giving the banks hundreds of thousands of euro in interest, if that's what you're into...

Put it into vulture funds and pockets of the wealthy , or into your own pocket...

4,700 isnt substantial emigration, its pretty much flatlined.

Factor in the births vs deaths and the total irish citizen population is still increasing each year.

I'd say keep trying though maybe go for slightly cheaper properties.

Homes are predicted to rise in value again this year and south dublin is the most desirable part of the country and has the most expensive prices to match.

Those prices are likely to rise faster than you can save.

I had a lot of this last year from family and on here when attempting to buy a house. People telling me that there's tonnes of available properties out there that are in our price range and sending us the daft.ie links. Had many accusing us of being snobby, too picky and all that nonsense.

The problem is that the market has gone crazy, 20/30 people turning up for viewings, bids going in at 80-100k over the asking on the same day.

We knew quickly that we had to lower our expectations with our budget and bought a lovely 2 bed terraced house with a converted attic, so essentially 3 bed and we're chuffed.

@dashdoll The areas that you're looking in are ridiculously priced. We lived in Churchtown for a year before buying our house northside. The amenities and transport links are excellent but you're paying over the odds for them. My only suggestion would be to look in places like Drimnagh/Walkinstown/Kimmage, you could get lucky and get a nice house for your budget, but as we did, you may need to lower your expectations in this current market. It's awful that you have to do that considering your level of savings (fair play on them), but the competition in the market is just insane.

There's a few issues with your scheme though, the first being trying to find a house that you can by for 400k anywhere around the area, houses on whitebarn road going for 650k+ nutgrove avenue for 600k loretto 550k. There's no chance you're buying a house in the area for 400k.

The second issue would be the expense is splitting the house into 2 apartments, you're looking at nearly 100k to covert the house to have 2 functioning apartments.

THsbks for the reply. Agree about the ads. People have no idea the price thst properties actually go for vs asking price on daft. I've become quite clued in now from all the viewings but still am shocked at the bidding wars and seemingly endless pots of cash that some people have.

Congrats on your home...it sounds great.

I am looking also around those areas Drimnagh, Crumlin etc. A lot of the properties within budget there require massive work to bring them up to a standard standard and I really don't have much or any of a renovation budget unfortunately.

I would absolutely consider North side too. I have alerts for all of Dublin and Kildare so will just keep going I suppose and see what happens.

On the subject of houses going way over asking. This one is a doozy.

€945k asking. €1.335m current bid. €390k (41%) above asking and still going.

Hunters always seem to be the worst for this underpricing stuff.

https://huntersestateagent.ie/properties/44-foxrock-park-foxrock-dublin-18

The look of shock and disgust I was getting when showing some of the properties that we had bid on from older family. They were completely clueless on the market until we were looking to buy, now they can't stop telling people how bad it is from our experience.

You may have to consider one of the fixer uppers and do it over time if you really want South Dublin. A lot may look like they need extensive work but you'd be surprised what some paint and a carpet cleaner can do to the place.

My partner wanted to take a break and wait to build up more savings but as others have said you'd more than likely be poorer in the market in a years time.

Really hope something works out for you!

I'm curious that you are mentioning the tax free 14k limit on rent a room, but at the same time advocating solutions that would breach the terms?

A garden unit or two separate apartments in one building would be self contained, therefore not qualifying for rent a room tax relief.

Maybe, but it will sell for at least that if not close to a million.