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

And will there be people who will face serious consequences for this? No, there will not be. Ergo, it will happen again.

The civil servants or other state employees responsible for matters such as the bike-shed should be immediately terminated from their jobs, have their pensions torn up and be publicly named so that they are never allowed near any position of responsibility ever again.

If you don't agree with too much interference then you won't agree with tax loopholes for LLs or investment companies .

Gov can't " interfere " on one side and expect it just to trickle down to those folks who end up homeless ...oh wait they have and they do !

Agreed. People want it treated like an emergency so they should do something drastic. Absolutely pump money at it and see if they can make supply explode.

No doubt this will be roundly criticised also though. People want developers to triple housing output while simultaneously having their margins slashed. Fantasy land.

The only ‘loophole’ (I’ll call it a tax incentive) provided to landlords that I’m aware of is the recently introduced rebate for long term tenancy which I fully disagree with (I’m not a LL).

The taxation (or lack thereof) of REITs is one of the most widely misunderstood ‘loopholes’. If I buy a share in a REIT. It gets lots of money together from other people and buys lots of houses. A sensible way for people to get diversified access to property investment without needing massive debt.

Tenants pay the REIT money, they pay no tax…but they are legally obliged to pay AT LEAST 90% of the rent they collected to me…at which stage I pay 52% tax. Same as any other income. If the REIT also paid tax itself and then I had to pay tax again, they wouldn’t exist.

What other ‘loopholes’ are you referring to?

Margins increased significantly and Cairn homes just finished a €45,000,000 share buy back program last year

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

Development fees and water charges removed,10% + increase in price in 12 months. Up to 120,000 grant per apartment and they want MORE MORE MORE

Keep those magic money tree seeds safe folks

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 .

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.

So narrow-minded though.

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

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 .

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...

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 " ...

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

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.

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

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