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

hometruths · 16-02-2025 06:01PM

https://www.boards.ie/discussion/comment/123178088#Comment_123178088

You throw more taxpayers money at developers they'll just order larger skips to collect it

Very good 😊 😊 👍 👍

Goldengirl · 16-02-2025 08:30PM

https://www.boards.ie/discussion/comment/123176938#Comment_123176938

Residential Premises Rental Income Relief

A tax relief for individual landlords of residential properties was introduced in 2024. The Residential Premises Rental Income Relief is available for the years 2024 to 2027.

It is max relief of €800 in 2025 and €1000 in 2026 and 2027.

And Stamp Duty Relief

When buying multiple apartments investors do not have to pay the extra stamp duty that applies if buying multiple houses in a development.

Stamp Duty Residential Property Development Refund Scheme , ending Dec 2025 , but applicable to all building of Residential property commenced before end of this year allowing refund of stamp duty on purchase of non residential land and property ( standard 7.5% ) .

These are a long with that mentioned in your post and there have been others ( incentives / loopholes ) that have been phased out.

Not taking issue with these reliefs because they support housing availability for rent and LLs sticking to it longer just the post I replied to was disparaging of help for renters and RPZs in particular , calling it "government interference ".

My point is that if these reliefs are available on the LL side it has to be balanced by reliefs on the tenant side .

Idbatterim · 16-02-2025 08:38PM

An article here about why ffg support rising prices …

https://www.thejournal.ie/fianna-fail-and-fine-gael-supporter-homeowners-not-renters-6621979-Feb2025/

DataDude · 16-02-2025 08:40PM

https://www.boards.ie/discussion/comment/123178742#Comment_123178742

The first one is the one I said and I disagreed with.

The second I’m not really sure as you’ve worded it weirdly but if this the fact they don’t have to pay the punitive tax levied on specific large scale transactions in new build estates then no that not a relief. It’s just they haven’t been included in scope of it. In the same way you and I are not in scope of it. I don’t consider myself as having received relief for not having to pay stamp duty on bulk transactions.

I also fully support rent tax credit. Perhaps you’ve confused me with a different poster. I’m extremely ‘pro-tenant’ in my views generally.

timmyntc · 16-02-2025 08:41PM

https://www.boards.ie/discussion/comment/123178742#Comment_123178742

The stamp duty relief for apartments just brings investors in line with owner occupiers when it comes to buying apartments.

For normal people it's 1% stamp duty, the multi unit exceptions was added in 2022 I think, and then the exception to the exception for multi unit purchases of apartments only, which brings it back to normal stamp duty rules. It's hardly loophole or anything, the situation is still stacked against investors in that particular area.

Goldengirl · 16-02-2025 08:43PM

https://www.boards.ie/discussion/comment/123178767#Comment_123178767

So narrow-minded though.

Most homeowners are one degree of removal from renters or potential renters be they themselves or their children .

Goldengirl · 16-02-2025 08:49PM

https://www.boards.ie/discussion/comment/123178775#Comment_123178775

Worded it in my own words ..sorry if weird but didn't want copy and paste ! It's a big relief for developers who purchase en masse but not to smaller investors.

If you are, pro renter , the post I was replying to didn't give me that impression , so we will just move on then .

Goldengirl · 16-02-2025 08:51PM

Its not bringing them in line with single owner occupiers . They can bulk buy often at reduced rates from developers or with better access to funding do direct competition for single apartment buyers who cannot compete .

Rocket_GD · 16-02-2025 09:45PM

https://www.boards.ie/discussion/comment/123178767#Comment_123178767

Again remind us all, who did you vote for in the election?

You are a turkey who voted for Christmas.

Idbatterim · 16-02-2025 09:56PM

If you really want to see why all governments love rising prices, just watch this. If you're relying on the media here for information, well... I don't know what to say...

https://youtu.be/XL3n59wC8kk?si=mu9B5bFtGH-iYXgP

It's the one " business " where many accumulate wealth, while sleeping. Serious wealth... a typical house in dublin, let's say 600k, say its increasing by 60k a year, ten percent. Many people are breaking their necks to earn AFTER tax...

Its a scandalous wealth transfer from the poor to the comfortable... its getting worse. So what if supply increases, it only slightly slows down the runaway prices...

I've a few self employed mates, working harder to earn less each year, as is common in many industries... if you can get in on property, it's the ultimate rigged " commodity " ...

Idbatterim · 16-02-2025 09:59PM

Gary again, I dont support left wing policies, lile obscene taxation over a minimal level and a world leading welfare state. which is all we have here. Ffg are left, except when it comes to housing, where they are full on " let it rip"...

fliball123 · 17-02-2025 09:24AM

https://www.boards.ie/discussion/comment/123179005#Comment_123179005

Gary there is not one credible politician to vote for IMO. I didn't bother voting last year as I voted Fine Gael last time and they done very little of what they promised when they were in power. It would be interesting to find out how many people didn't bother voting due to this issue. Politicians are only interested in power and will spin you a yarn to get you to vote for them. Case in point the housing delivery numbers they blatantly lied in the run in to the election and when they get elected the truth comes out when the voters can do phuck all about it for the next 5 years. Also your going to see a rash of tings coming out now about FF and FG as they will want their dirty laundry washed as early as possible in the 5 year cycle.

Just as an aside less then 3/5ths of the population voted. It would be interesting to see why the other 2/5ths didn't as IMO that % of people who either could not vote or who just didn't see a viable candidate to vote for is higher % wise than any party elected.

I have said it before and I will say it again until politics is simplified into every party/politician giving 10 issues they plan to add/remove/change when and if they get into power and after their term is up their all of their pensions should reflect what they have achieved if they got 3 issues to completion then 30% pension. Hit them in the pocket and you will see the phuckers work.

https://www.tcd.ie/Political_Science/about/people/michael_gallagher/Election2024.php

Rocket_GD · 17-02-2025 09:26AM

https://www.boards.ie/discussion/comment/123179050#Comment_123179050

"I don't support left wing policies……Ffg are left", and yet you voted for them.

So you did literally support them.

Rocket_GD · 17-02-2025 09:34AM

https://www.boards.ie/discussion/comment/123179758#Comment_123179758

I fully understand if someone doesn't vote if they believe that there's no credible option, that actually makes sense.

I don't understand someone who already hated the government, their policies (as per the post above), doesn't think their leaders are fit to be in office and then goes out and votes for them again, then complains that they're back in government and wants another election, it's nonsense. As I said, it's a turkey who voted for Christmas, not once but repeatedly.

I can imagine a large % of the 2/5th that didn't vote were unfortunately the younger generation, many of whom are completely apathetic to politics. Anecdotally from my partner's group of 9 female friends, only 2 voted. The rest have said that they just didn't care, but then also complain about cost of living, house prices etc. It really annoys me that they can't see the correlation between the two.

Anyway, I'm taking this off topic into politics more than the property market, so I'll leave it there.

Idbatterim · 17-02-2025 09:40AM

Let me tell you why they are apathetic. We live in the country , where nothing is ever done, just talked about. That for a start, just gets people fed up. The lack of any credible options, issue number 2. If there was an Irish trump like disruptor, see how many would come out to vote. That don't currently. Even if they didn't agree with him, as a two fingers to the establishment...

Rocket_GD · 17-02-2025 09:53AM

https://www.boards.ie/discussion/comment/123179805#Comment_123179805

And yet you voted for the status quo that you hate so much, good man.

hometruths · 17-02-2025 12:34PM

Seems like the Cabinet meeting leaking already.

Gavan Reilly reporting that Paschal has vetoed turbo charging the developers tax breaks.

https://twitter.com/gavreilly/status/1891460495632121899

That excitement was fairly short lived if true.

timmyntc · 17-02-2025 01:03PM

Are tax breaks the remit of Public Expenditure or Finance ministers?

hometruths · 17-02-2025 01:34PM

https://www.boards.ie/discussion/comment/123180552#Comment_123180552

I would have thought Finance Minister has to sign off, but tbh don't know.

hometruths · 17-02-2025 01:44PM

There may be legs in it yet.

Paschal's comments were not leaked from Cabinet meeting, they were comments to reporters in Brussels this morning.

“What I am not going to do is reintroduce or propose the very tax reliefs that did such harm to our economy and then the building of homes for many years in Ireland,” he said.
Previous tax breaks, such as section-23 relief, had proved to be “very, very costly”, he said.
“We have already acknowledged that it can be very difficult to identify how they can be targeted, and I don’t believe those policies are the ways in which we will make progress in the delivery of more homes,” Mr Donohoe said.

https://www.irishtimes.com/politics/2025/02/17/donohoe-opposed-to-return-of-harmful-tax-breaks-for-developers/

There could be an interesting row coming down the tracks. If Paschal and FG are dead against this idea but Taoiseach and FF are all for it, presumably Michael Martin and FF can pull rank and vote it through in Cabinet?

Emblematic · 17-02-2025 01:58PM

Th

https://www.boards.ie/discussion/comment/123180711#Comment_123180711

They don't want too many houses built.

hometruths · 17-02-2025 02:04PM

https://www.boards.ie/discussion/comment/123180800#Comment_123180800

They're treading a fine line. They don't want too few built either. Noises coming out of FF recently suggest they might be coming round to the idea that they're better off with too many rather than too few.

Idbatterim · 17-02-2025 03:22PM

Ah this is brilliant..

" democracy " Irish style, nothing ever gets do?e. MM is the leader of this country, start making decisions, start taking accountability. The government by cowardice, is what's causing your vote to gradually decline...