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23-11-2019, 12:05   #31
L1011
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Take the immigration talk elsewhere

Ahem. Should be cards flying like that old Royal Mail Christmas ad now, and there will be if the immigration stuff continues.
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23-11-2019, 12:18   #32
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I dunno what the op is looking for the whole supply thing has been talked to death on these forums.

Seems like people think the supply and demand and problems within the construction industry don't apply to them.

If you want to encourage action you don't tax the heck out it. The govt is primarily encouraging external investment. That is not aligned to the countries need.

Remember this when the elections come around.

Last edited by beauf; 23-11-2019 at 23:32.
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23-11-2019, 22:17   #33
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The costs of building are high, yes, but not related to taxes:


(1) very high cost of land - indeed, land taxes would help reduce the cost of sites


(2) high cost of finance - even though the ECB rate is 0%, property developers are paying 5-6% for senior debt, much more for mezzanine finance


(3) high profit margins, related to risk
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23-11-2019, 23:30   #34
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Got ahead of myself...

https://www.independent.ie/business/...-34728466.html
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24-11-2019, 00:25   #35
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Agree in established areas. How far West is the key? Established areas very little on offer - Availability in KnocknaCarra is pretty high though especially for 4 bed.
Just remembered this comment.

If the OP is looking for Galway west but not as west as Knockers, there's another factor to be aware of.

In some parts of this area, houses which are sold aren't marketed publically. No signs. No advertising. Instead, agents handle things discretely, sounding out prospective purchasers who are acceptable to the rest of the estate.
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24-11-2019, 02:29   #36
Geuze
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Yes, look at the high cost of finance 20k per house, should be maybe 5k.

Profit margin of 38k per house, 10k would be enough.

Site costs 57.5k, if we could get that down to 10k, that would make house cheaper.

We could knock 70k off costs.
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24-11-2019, 13:15   #37
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builders in dublin are saying the profit on building a house is too small,
if house is in the 250k range.
maybe builders could get tax credits fro building in citys where there is high demand but sites are very expensive .
by the way the government owns loads of land all around dublin.
Builders in new north inner city development where the old flats will be knocked
down will be getting the site for zero cost.
how does one reduce site cost down to 10k, ?
In dublin or other area.s
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25-11-2019, 15:47   #38
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I don't think an 11% margin is so bad for a company creating value. There is risk involved for the developer and I'm surprised it is set at that level and not higher.

The finance cost at 6% is high in today's low interest environment with the ECB at 0%. Financing should be cheaper for property developers which is one of the recommendations "Providing a State-supported development bank to lower the cost of funding home construction. This could save €12,000 from the cost of constructing the average home"
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25-11-2019, 16:00   #39
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Not that I'm a seller or in your area, but if I was only thinking about selling my house, I wouldn't put it on now until the 3rd week in Jan at the earliest.

I wouldnt expect to see much new to market between now and then. If by end of Feb nothing is stirring, then you're right.

we live in an age of instant communication, apps and property updates if a property is in the right location, priced right, it will sell no matter the month its advertised.
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26-11-2019, 09:03   #40
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In some parts of this area, houses which are sold aren't marketed publically. No signs. No advertising. Instead, agents handle things discretely, sounding out prospective purchasers who are acceptable to the rest of the estate.
How much we talking about for this extra special service?
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26-11-2019, 09:45   #41
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How much we talking about for this extra special service?
No idea. As a blow-in, I'm unlikely to be introduced to the agents who do this. And I don't own a property to sell.
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26-11-2019, 11:05   #42
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If the OP is looking for Galway west but not as west as Knockers, there's another factor to be aware of.

In some parts of this area, houses which are sold aren't marketed publically. No signs. No advertising. Instead, agents handle things discretely, sounding out prospective purchasers who are acceptable to the rest of the estate.
Whats your source then for the above? or did you work for one of the Galway City Auctioneers in the past?
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26-11-2019, 12:56   #43
fago
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No idea. As a blow-in, I'm unlikely to be introduced to the agents who do this. And I don't own a property to sell.
As someone who was actively looking, I'm not sure this really holds water.
Unless its such a top secret service that the properties don't even end up on the property price register.

I've viewed 4-5 beds in the west of city, but almost everything in Salthill will be in the fixer upper category, and 400K plus. There's been plenty of withdrawals/didn't make AMV at the ODJ auction over the last 6 months in the same category.
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26-11-2019, 13:18   #44
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As someone who was actively looking, I'm not sure this really holds water.
Unless its such a top secret service that the properties don't even end up on the property price register.

I've viewed 4-5 beds in the west of city, but almost everything in Salthill will be in the fixer upper category, and 400K plus. There's been plenty of withdrawals/didn't make AMV at the ODJ auction over the last 6 months in the same category.
Is this a sign that the market is slowing down or that people have reached a ceiling in what they can afford.
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26-11-2019, 13:47   #45
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we live in an age of instant communication, apps and property updates if a property is in the right location, priced right, it will sell no matter the month its advertised.
I don't agree. At least you'd be limiting your market.

People are preoccupied with Christmas from November onwards, then feel poor in January as its typically 5/6 weeks since they've last been paid they have spent heavily in December.

Also, have you looked outside? The weather is non stop miserable, the evenings are closing in and everything is just grey and damp. If you want to do evening viewings, they're going to be in the dark.

So you've a smaller pool of buyers and your house won't look its best. You might be able to get a buyer, but are you maximising your sale price by selling in the middle of winter? Doubt it.

Things are the way they are for a reason and technology doesnt overcome what I've outlined above.
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