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

12357…498

Comments

  • #202
    L1011
    Registered Users, Registered Users 2 Posts: 69,589 ✭✭✭✭L1011


    PropQueries wrote: »
    Well, if life expectancy in the over 65s increased by c. 4 years between 2000 and 2018 and plateaued in 2018 and combined with the pre-covid backlog and the obvious probate delays during covid, there may be a significant number (in the tens of thousands in prime locations IMO) of probate related properties about to re-enter the market in one form or other (sale or rent) over the next several months IMO

    Your numbers don't make any sense.

    "IMO" does not make nonsensical statements immune from being torn apart.


  • #203
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    PropQueries wrote: »
    Well, if life expectancy in the over 65s ......

    It would be an average NOT a XX,000 properties go on sale on the anniversary of the publication of life expectancy figures.

    If anything, life expectancy increases would result in an increase in demand. i.e. people needing to be housed for longer.

    Your hypothesis pretty much fails on every level as well as being unsupported by any current authoritative source.


  • #204
    John1648
    Banned (with Prison Access) Posts: 112 ✭✭John1648


    Marius34 wrote: »
    I think Dublin residential property market is a good place to invest savings, if you don't have your own business. Although it's not for everyone, and problem with tenants might be a major issue.
    But I think you calculation is not right for final profits. If Rental is not main source of income, I guess you would NOT get allowance of 1,650.
    Your "Overall Profit" still likely to be taxed in country of residence as an Income, Profit or Dividend rate.

    Problem with tenants? You mean it may be difficult to find a tenant to rent a 1 bedroom apartment for 1400 EUR per month? Or finding a solvent, dilligent tenant?

    Re the taxation - indeed, for a while, renting will be the main source of income. So the allowance of 1650 will be applicable.


  • #205
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,448 ✭✭✭✭Marcusm


    L1011 wrote: »
    Your numbers don't make any sense.

    "IMO" does not make nonsensical statements immune from being torn apart.

    I;d agree that there was no rationality in the other poster's basis. However, there has been a level of "excess deaths"in Ireland since the onset of COVID-19 although this has been estimated to be less than half of the deaths allocated to COVID. Given that 91% of the COVID deaths have been in the over 65s, it is natural to assume that, to an extent, there will have been a number of elderly/living alone deaths which may result in additional houses on the market. Personally, I suspect these will be statistically insignificant.


  • #206
    Marius34
    Registered Users Posts: 1,173 ✭✭✭Marius34


    John1648 wrote: »
    Problem with tenants? You mean it may be difficult to find a tenant to rent a 1 bedroom apartment for 1400 EUR per month? Or finding a solvent, dilligent tenant?

    Re the taxation - indeed, for a while, renting will be the main source of income. So the allowance of 1650 will be applicable.

    It's more about finding good and solvent tenants, that would pay, and not destroy the place.
    if your main worldwide income comes from Rent, probably you are right on 1650 allowance.


  • #207
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Marcusm wrote: »
    I suspect these will be statistically insignificant.

    This


  • #208
    Bass Reeves
    Registered Users, Registered Users 2 Posts: 18,976 ✭✭✭✭Bass Reeves


    PropQueries wrote: »
    Well, if life expectancy in the over 65s increased by c. 4 years between 2000 and 2018 and plateaued in 2018 and combined with the pre-covid backlog and the obvious probate delays during covid, there may be a significant number (in the tens of thousands in prime locations IMO) of probate related properties about to re-enter the market in one form or other (sale or rent) over the next several months IMO

    Props once again you have take a statistic and used it to pick a bit of information out of your ar5e.

    On the increase in life expectancy on the over 65's it has mostly been an extension of lifespan by men. Women life expectancy has not significantly increased. In general in marital situations men will be older than women by at least a couple of years on average. In most situations women outlive men. Because there life expectancy has not increased significantly there is little or no effect in the short or medium term.
    I forgot IMO.

    You have a bee in your bonnet about probate but its immaterial. In most cases at the reading of a will the information regarding what is happening with a house is decided. Probate dose not prevent a house being put up for sale or being rented. If Johnny the son or nephew is left the house if he is going to sell it he can put it up for sale. Awaiting probate dose not effect this. Unless probate exceeds the sales time period is it a problem. It seldom dose I have hard of a few sales awaiting probate but not many. It's really only an issue if you are selling at auction. Most houses sell by private treaty.


    I forgot again IMO

    Slava Ukrainii



  • #209
    I see sheep
    Registered Users Posts: 1,787 ✭✭✭I see sheep


    Pussyhands wrote: »
    I'm looking to buy an apartment.

    Can anyone give me tips on what I should be looking for/asking for in a viewing?

    I've seen listed management fees range from 500-1500.

    I wouldn't buy an apartment in Ireland or GB tbh, most I've lived in are not well built and require constant fixing, even very expensive ones.


  • #210
    John1648
    Banned (with Prison Access) Posts: 112 ✭✭John1648


    I see sheep wrote: »
    I wouldn't buy an apartment in Ireland or GB tbh, most I've lived in are not well built and require constant fixing, even very expensive ones.

    Well, I have looked at many markets. Dublin offers the highest yield for rentals, of 7% net (9% gross), which is unheard of everywhere else.

    Oh, the same is in Maldives e.g., in Male, but is too far away to manage.


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  • #211
    Cal4567
    Registered Users Posts: 625 ✭✭✭Cal4567


    John1648 wrote: »
    Well, I have looked at many markets. Dublin offers the highest yield for rentals, of 7% net (9% gross), which is unheard of everywhere else.

    Oh, the same is in Maldives e.g., in Male, but is too far away to manage.

    You sound as if you are from abroad. Apologies if I have you wrong.

    Guys, and girls, if John is someone outside the country looking in, and Dublin offers the best yield than anywhere else, then there's our issue. John, your hopeful yield is our living problem.

    No idea if you are abroad, but generally one of the early interventions the Minister can do is clip the heels of foreign investment vehicles whether they are corporate or individual.

    As someone else said, no easy solutions. I fear we will be discussing a version of the same problem in a decade.


  • #212
    Wanderer78
    Registered Users, Registered Users 2 Posts: 29,909 ✭✭✭✭Wanderer78


    Cal4567 wrote:
    No idea if you are abroad, but generally one of the early interventions the Minister can do is clip the heels of foreign investment vehicles whether they are corporate or individual.

    Unfortunately we live in the era of relative free movement of capital, this wouldn't be an easy one to implement


  • #213
    John1648
    Banned (with Prison Access) Posts: 112 ✭✭John1648


    Cal4567 wrote: »
    You sound as if you are from abroad. Apologies if I have you wrong.

    Guys, and girls, if John is someone outside the country looking in, and Dublin offers the best yield than anywhere else, then there's our issue. John, your hopeful yield is our living problem.

    No idea if you are abroad, but generally one of the early interventions the Minister can do is clip the heels of foreign investment vehicles whether they are corporate or individual.

    As someone else said, no easy solutions. I fear we will be discussing a version of the same problem in a decade.

    Yes, I am abroad.

    However, I am a very small investor. I have been saving cash for 15 years for retirement.

    Now that inflation is coming, I am looking at purchasing a small apartment, to shield myself from loss of USD and EUR purchasing power, inflation, further prices increases, and make a small profit.

    I was in renters shoes for many years, so I fully get the frustration.

    Does it make sense to buy in Citywest? Does 1400 eur rent for 1 bedroom seem credible?

    I would genuinly appreciate your advice. I have no exploitative intentions.


  • #214
    Patsy167
    Registered Users, Registered Users 2 Posts: 1,830 ✭✭✭Patsy167


    Thought this was a funny take that others might appreciate - https://www.youtube.com/watch?v=8-xEOvfNTRc&vl=en


  • #215
    Mic 1972
    Registered Users, Registered Users 2 Posts: 3,213 ✭✭✭Mic 1972


    I see sheep wrote: »
    I wouldn't buy an apartment in Ireland or GB tbh, most I've lived in are not well built and require constant fixing, even very expensive ones.


    That's true unfortunately.
    I bought an apartment in italy more than 20 years ago that has been rented all the time and the only maintenance i had to pay for was for a new fridge and a new washing machine


  • #216
    Pussyhands
    Registered Users Posts: 8,239 ✭✭✭Pussyhands


    I see sheep wrote: »
    I wouldn't buy an apartment in Ireland or GB tbh, most I've lived in are not well built and require constant fixing, even very expensive ones.

    It'll be 2nd hand, I can't afford a house.


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  • #217
    Villa05
    Registered Users, Registered Users 2 Posts: 4,728 ✭✭✭Villa05


    Timing belt wrote:
    Hindsight is great but is after the event.... I bet in 5-10 years time people will be saying how wrong QE was that it introduced massive risks and caused asset prices to be overvalued.

    I don't think we need hindsight to tell us that this won't end well

    Villa05 wrote:
    The Troika objective was to create a sustainable rental market so that people did not feel they had to buy to move on with their lives. In other words affordable fit for purpose alternatives to buying. The IMF and United nations have been highly critical of our policies on housing

    John1648 wrote:
    Now that inflation is coming, I am looking at purchasing a small apartment, to shield myself from loss of USD and EUR purchasing power, inflation, further prices increases, and make a small profit.

    John, I don't mean to be disrespectful in quoting your post. Your thoughts are funtion of the system.

    It's the system that will bring us down not the actions of individual investors.

    I'm sure your actions will be blamed on any collapse by the politicians just like they did after 08 when the Taoiseach' stated in Davos that we all went mad to an audience that for the most part we're the architects of the last collapse.


  • #218
    Mad_maxx
    Registered Users, Registered Users 2 Posts: 13,503 ✭✭✭✭Mad_maxx


    John1648 wrote: »
    Well, I have looked at many markets. Dublin offers the highest yield for rentals, of 7% net (9% gross), which is unheard of everywhere else.

    Oh, the same is in Maldives e.g., in Male, but is too far away to manage.

    It needs to have a way higher yield as evicting tenants who stop paying takes two years and you won't be compensated if they damage the place


  • #219
    mcsean2163
    Registered Users, Registered Users 2 Posts: 1,839 ✭✭✭mcsean2163


    John1648 wrote: »
    Yes, I am abroad.

    However, I am a very small investor. I have been saving cash for 15 years for retirement.

    Now that inflation is coming, I am looking at purchasing a small apartment, to shield myself from loss of USD and EUR purchasing power, inflation, further prices increases, and make a small profit.

    I was in renters shoes for many years, so I fully get the frustration.

    Does it make sense to buy in Citywest? Does 1400 eur rent for 1 bedroom seem credible?

    I would genuinly appreciate your advice. I have no exploitative intentions.

    Six years ago we rented a three bed in Dublin 8 for €1,300 to our neighbors. The rent is over double that now. If you can get a 20 years deal with the council and the council doesn't go bust you'll probably be fine...


  • #220
    MacronvFrugals
    Registered Users, Registered Users 2 Posts: 1,028 ✭✭✭MacronvFrugals


    Well this adds a whole new bizarre dynamic to the scandal of leasing...


    Councillors ‘not informed’ of council’s €25m south Dublin housing deal

    Dún Laoghaire Rathdown councillors have said they had no knowledge of the council’s plan to lease an entire estate in Cabinteely, south Dublin, for social housing.



    https://www.irishtimes.com/news/social-affairs/councillors-not-informed-of-council-s-25m-south-dublin-housing-deal-1.4566808?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fnews%2Fsocial-affairs%2Fcouncillors-not-informed-of-council-s-25m-south-dublin-housing-deal-1.4566808


  • #221
    Eclectic Econometrics
    Registered Users Posts: 151 ✭✭Eclectic Econometrics


    Wanderer78 wrote: »
    Unfortunately we live in the era of relative free movement of capital, this wouldn't be an easy one to implement

    Realistically, how difficult would this be to implement? If it were a centralised government agency making sure that the buyers of Irish property were full time resident in Ireland, not just passport holders, how large would that organisation be in terms of manpower?

    This isn't a pop at you or John (for clarity), who is just taking care of his future, this is a genuine question.


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  • #222
    Wanderer78
    Registered Users, Registered Users 2 Posts: 29,909 ✭✭✭✭Wanderer78


    Eclectic Econometrics wrote: »
    Realistically, how difficult would this be to implement? If it were a centralised government agency making sure that the buyers of Irish property were full time resident in Ireland, not just passport holders, how large would that organisation be in terms of manpower?

    This isn't a pop at you or John (for clarity), who is just taking care of his future, this is a genuine question.

    altering the free movement of capital is very complicated, particularly in the eu, as its one of the main core values of the union, free movement of capital also has benefits for us, not easy to resolve


  • #223
    Browney7
    Registered Users, Registered Users 2 Posts: 3,100 ✭✭✭Browney7


    MacronvFrugals wrote: »
    Well this adds a whole new bizarre dynamic to the scandal of leasing...


    Councillors ‘not informed’ of council’s €25m south Dublin housing deal





    https://www.irishtimes.com/news/social-affairs/councillors-not-informed-of-council-s-25m-south-dublin-housing-deal-1.4566808?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fnews%2Fsocial-affairs%2Fcouncillors-not-informed-of-council-s-25m-south-dublin-housing-deal-1.4566808

    Whilst it looks a headline that demonstrates a level of the councillors having their eye off the ball, presumably the housing department just have a budget and the head of that department allocates funding as it sees fit. Presumably Owen Keegan as Chief exec is ultimately responsible for the decision and has to stand over it from a value for money perspective


  • #224
    yagan
    Registered Users, Registered Users 2 Posts: 3,571 ✭✭✭yagan


    Wanderer78 wrote: »
    altering the free movement of capital is very complicated, particularly in the eu, as its one of the main core values of the union, free movement of capital also has benefits for us, not easy to resolve
    There may be free capital movement but each member applies its own housing rates and charges, except Ireland seems to prefer a hands off approach. Letting properties sit idle for years is an asset speculators dream.


  • #225
    JimmyVik
    Registered Users, Registered Users 2 Posts: 5,367 ✭✭✭JimmyVik


    John1648 wrote: »
    Well, I have looked at many markets. Dublin offers the highest yield for rentals, of 7% net (9% gross), which is unheard of everywhere else.

    Oh, the same is in Maldives e.g., in Male, but is too far away to manage.


    That yield only applies if the tenant feels like paying the rent.
    Paying rent is optional in Ireland.
    When you contact whatever company is going to manage this property for you, since you are abroad, ask them will they pay the rent if the tenant they supply decides not to pay it.
    Their answer will tell you everything you need to know.


  • #226
    awec
    Administrators Posts: 54,110 Admin ✭✭✭✭✭awec


    Browney7 wrote: »
    Whilst it looks a headline that demonstrates a level of the councillors having their eye off the ball, presumably the housing department just have a budget and the head of that department allocates funding as it sees fit. Presumably Owen Keegan as Chief exec is ultimately responsible for the decision and has to stand over it from a value for money perspective

    Owen Keegan is DCC, the article is DLR, but I'd say that's exactly what it is. The councillors are engaging in some self preservation.

    Councillor is supposed to be a part time role, like all level of politics you have the elected individuals setting direction and then the civil servants carrying it out.


  • #227
    Wanderer78
    Registered Users, Registered Users 2 Posts: 29,909 ✭✭✭✭Wanderer78


    yagan wrote: »
    There may be free capital movement but each member applies its own housing rates and charges, except Ireland seems to prefer a hands off approach. Letting properties sit idle for years is an asset speculators dream.

    absolutely agree, we ve completely 'bought' into the fire sector model of running our economy, and its starting to collapse


  • #228
    DataDude
    Registered Users, Registered Users 2 Posts: 1,243 ✭✭✭DataDude


    John1648 wrote: »
    Yes, I am abroad.

    However, I am a very small investor. I have been saving cash for 15 years for retirement.

    Now that inflation is coming, I am looking at purchasing a small apartment, to shield myself from loss of USD and EUR purchasing power, inflation, further prices increases, and make a small profit.

    I was in renters shoes for many years, so I fully get the frustration.

    Does it make sense to buy in Citywest? Does 1400 eur rent for 1 bedroom seem credible?

    I would genuinly appreciate your advice. I have no exploitative intentions.
    JimmyVik wrote: »
    That yield only applies if the tenant feels like paying the rent.
    Paying rent is optional in Ireland.
    When you contact whatever company is going to manage this property for you, since you are abroad, ask them will they pay the rent if the tenant they supply decides not to pay it.
    Their answer will tell you everything you need to know.

    I would heed this advice. I may be misinterpreting, but I have taken from your comments that you do not necessarily have a vast pension fund of which this one apartment would form a small part of it.

    If that is the case, and this assumed rental income is going to be a key factor in your ability to retire comfortably, I would run a mile. You won't have enough diversification and the risk of a rogue tenant is too much for you to carry. You would be far better advised investing in an Irish REIT to be more diversified...if this property is going to be one of many income streams and two years of rental arrears plus significant legal costs/repair bills etc. does not worry you - then you could consider it.


  • #229
    Browney7
    Registered Users, Registered Users 2 Posts: 3,100 ✭✭✭Browney7


    awec wrote: »
    Owen Keegan is DCC, the article is DLR, but I'd say that's exactly what it is. The councillors are engaging in some self preservation.

    Councillor is supposed to be a part time role, like all level of politics you have the elected individuals setting direction and then the civil servants carrying it out.

    Yes you are of course correct - Owen Keegan is DCC and DLR would have a separate executive management team.


  • #230
    DataDude
    Registered Users, Registered Users 2 Posts: 1,243 ✭✭✭DataDude


    Any Delgany/Greystones locals aware of any developments in the area that would cause 3 of these house to come to market in such quick succession, and each at a lower price than the last. First was 795 last December, dropped to 765 when neighbor put theirs up and now another gone up at 740. I know there was some plans for the N11 to go through Delgany but didn't think it would affect this location?

    https://www.myhome.ie/residential/brochure/8-glendale-convent-road-delgany-co-wicklow-a63-w635/4501810

    Seems suspicious (or else a big coincidence). When the first one went up they proudly declared they were the first to ever sell a house in the estate of 9 because it's such a nice area


  • #231
    Villa05
    Registered Users, Registered Users 2 Posts: 4,728 ✭✭✭Villa05


    Gradius wrote:
    Productivity and creativity are the bread and butter of every economy. They are the golden eggs.

    The commodification of housing has been the equivalent of slaying the golden goose.

    Your full post should be a sticky at the start of the thread

    Followed by the reasoning why pro market posters believe unaffordability is acceptable within the market


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  • #232
    awec
    Administrators Posts: 54,110 Admin ✭✭✭✭✭awec


    DataDude wrote: »
    Any Delgany/Greystones locals aware of any developments in the area that would cause 3 of these house to come to market in such quick succession, and each at a lower price than the last. First was 795 last December, dropped to 765 when neighbor put there's up and now another gone up at 740. I know there was some plans for the N11 to go through Delgany but didn't think it would affect this location?

    https://www.myhome.ie/residential/brochure/8-glendale-convent-road-delgany-co-wicklow-a63-w635/4501810

    Seems suspicious (or else a big coincidence). When the first one went up they proudly declared they were the first to ever sell a house in the estate of 9 because it's such a nice area

    There's a big development planned where the convent is, Delgany residents are currently undertaking a judicial review I think.

    The potential N11 route through Delgany is no longer on the table.

    Those are lovely houses, I think I linked one for you before.


  • #233
    Villa05
    Registered Users, Registered Users 2 Posts: 4,728 ✭✭✭Villa05


    MacronvFrugals wrote:
    Well this adds a whole new bizarre dynamic to the scandal of leasing...


    It's not that long ago that we were aghast at the poor value within public private partnerships in the delivery of infrastructure such as roads etc

    At least we had an asset at the end of it
    Now we have taken it to a whole new level. Poor value plus no asset at the end

    Our governance is an experiment in reverse evolution


  • #234
    Cal4567
    Registered Users Posts: 625 ✭✭✭Cal4567


    MacronvFrugals wrote: »
    Well this adds a whole new bizarre dynamic to the scandal of leasing...


    Councillors ‘not informed’ of council’s €25m south Dublin housing deal

    Chairwoman of the council’s housing policy committee, Labour councillor Martha Fanning, said the committee was not typically informed when the council decided to enter into long-term housing leases. “We tend to find out when it’s in the newspapers.”

    So, they find out just like us then. Never mind the dysfunction of the housing market, yet another example of Irish local government in action. When did Waterford Whispers start writing for the Irish Times?


  • #235
    DataDude
    Registered Users, Registered Users 2 Posts: 1,243 ✭✭✭DataDude


    awec wrote: »
    There's a big development planned where the convent is, Delgany residents are currently undertaking a judicial review I think.

    The potential N11 route through Delgany is no longer on the table.

    Those are lovely houses, I think I linked one for you before.

    Yeah you had linked in before. The one you linked dropped it's price from 795 to 760 and sold a couple weeks back but there's two more up now. They seem like smashing value.

    Much appreciated. I see stories online about big development on the Convent site now. Would have thought it was far enough from Glendale to not be a major issue, but maybe the current residents disagree!


  • #236
    Ozark707
    Registered Users Posts: 953 ✭✭✭Ozark707


    Cal4567 wrote: »
    MacronvFrugals wrote: »
    Well this adds a whole new bizarre dynamic to the scandal of leasing...


    Councillors ‘not informed’ of council’s €25m south Dublin housing deal

    Chairwoman of the council’s housing policy committee, Labour councillor Martha Fanning, said the committee was not typically informed when the council decided to enter into long-term housing leases. “We tend to find out when it’s in the newspapers.”

    So, they find out just like us then. Never mind the dysfunction of the housing market, yet another example of Irish local government in action. When did Waterford Whispers start writing for the Irish Times?

    I suspect many of the councillors might not like the answer as to why councils need to take over whole estates, so it is better that they can plead ignorance when it is brought to their attention.

    It couldn't be that hard to ask the council as to their projections for housing needs are. There must be some forecasting being done.


  • #237
    awec
    Administrators Posts: 54,110 Admin ✭✭✭✭✭awec


    DataDude wrote: »
    Yeah you had linked in before. The one you linked dropped it's price from 795 to 760 and sold a couple weeks back but there's two more up now. They seem like smashing value.

    Much appreciated. I see stories online about big development on the Convent site now. Would have thought it was far enough from Glendale to not be a major issue, but maybe the current residents disagree!

    I'd have said they're far enough away too, Glendale is kind of tucked out of the way, it's not on a through road.

    I'd be really interested in them if I was shopping with that budget.


  • #238
    Marius34
    Registered Users Posts: 1,173 ✭✭✭Marius34


    Villa05 wrote: »
    Your full post should be a sticky at the start of the thread

    Followed by the reasoning why pro market posters believe unaffordability is acceptable within the market

    I would be surprised if there are anti market posters.
    Unaffordability, I'm not sure if anyone can even tell what that really mean in fundamental terms for Property Market. For some it might be 5 bed Villa at the coast, for another just any shelter. You will always find something that you can't afford.


  • #239
    JimmyVik
    Registered Users, Registered Users 2 Posts: 5,367 ✭✭✭JimmyVik


    DataDude wrote: »
    Yeah you had linked in before. The one you linked dropped it's price from 795 to 760 and sold a couple weeks back but there's two more up now. They seem like smashing value.

    Much appreciated. I see stories online about big development on the Convent site now. Would have thought it was far enough from Glendale to not be a major issue, but maybe the current residents disagree!


    Could be more of a "who" than a "what" as the reason people are moving :)


  • #240
    Mad_maxx
    Registered Users, Registered Users 2 Posts: 13,503 ✭✭✭✭Mad_maxx


    Wanderer78 wrote: »
    altering the free movement of capital is very complicated, particularly in the eu, as its one of the main core values of the union, free movement of capital also has benefits for us, not easy to resolve

    we are a very open economy and a key part of our investment sales pitch is friendly policies towards capital, this is the other side of that double edged sword

    difficult to resolve indeed , rather than disallow big money from buying property , might it be possible to tax their income higher ? , yields are so high that i doubt they all make for the exit ?


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  • #241
    Mad_maxx
    Registered Users, Registered Users 2 Posts: 13,503 ✭✭✭✭Mad_maxx


    DataDude wrote: »
    I would heed this advice. I may be misinterpreting, but I have taken from your comments that you do not necessarily have a vast pension fund of which this one apartment would form a small part of it.

    If that is the case, and this assumed rental income is going to be a key factor in your ability to retire comfortably, I would run a mile. You won't have enough diversification and the risk of a rogue tenant is too much for you to carry. You would be far better advised investing in an Irish REIT to be more diversified...if this property is going to be one of many income streams and two years of rental arrears plus significant legal costs/repair bills etc. does not worry you - then you could consider it.

    the REIT,s are a good idea for income seekers but they dont track the market so you wont see anything like the same capital appreciation , if that is not a priority , they are a great idea , the two main ones here which cover residential and commercial are paying 4% right now between them on average


  • #242
    mcsean2163
    Registered Users, Registered Users 2 Posts: 1,839 ✭✭✭mcsean2163


    Just noticed there are 12,002 properties on myhome, I believe it was on 11 thousand something a while back. Does anyone know if there is a myhome Ireland properties for sale graph? Interested to know the trend....


  • #243
    Wanderer78
    Registered Users, Registered Users 2 Posts: 29,909 ✭✭✭✭Wanderer78


    Mad_maxx wrote: »
    we are a very open economy and a key part of our investment sales pitch is friendly policies towards capital, this is the other side of that double edged sword

    difficult to resolve indeed , rather than disallow big money from buying property , might it be possible to tax their income higher ? , yields are so high that i doubt they all make for the exit ?

    the only tax i hear thats 'workable' is a land value tax, but i have little or no knowledge of it, if anyone else knows? we clearly do need fdi, but its becoming highly toxic, or types of capital is


  • #244
    Villa05
    Registered Users, Registered Users 2 Posts: 4,728 ✭✭✭Villa05


    Marius34 wrote:
    I would be surprised if there are anti market posters..

    Fair point, there's so much interference its hard to describe what our market is

    I suppose to your 2nd point if there was no interference then everyone would be more likely to find a place within there budget
    Price would fall significantly though


  • #245
    Villa05
    Registered Users, Registered Users 2 Posts: 4,728 ✭✭✭Villa05


    It's simple enough,
    Tax free status only applies to new projects they wholly fund.

    Tax free status surrendered on sale (benefits the long term pension funds over the quick buck short term funds)

    Where they are funding housing estates set aside a percentage for private individual buyers.

    Switch from long term leasing to max 5 years so that the state has tme to build there own


  • #246
    awec
    Administrators Posts: 54,110 Admin ✭✭✭✭✭awec


    Villa05 wrote: »
    It's simple enough,
    Tax free status only applies to new projects they wholly fund.

    Tax free status surrendered on sale (benefits the long term pension funds over the quick buck short term funds)

    Where they are funding housing estates set aside a percentage for private individual buyers.

    Switch from long term leasing to max 5 years so that the state has tme to build there own

    I agree that the state should be making significant capital investments in housing, but I do not believe for a second that the state would be capable of delivering this in 5 years.

    In 5 years time it'd still be sitting on the desk of some civil servant who needs to review something or other.


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  • #247
    Browney7
    Registered Users, Registered Users 2 Posts: 3,100 ✭✭✭Browney7


    mcsean2163 wrote: »
    Just noticed there are 12,002 properties on myhome, I believe it was on 11 thousand something a while back. Does anyone know if there is a myhome Ireland properties for sale graph? Interested to know the trend....

    https://www.boards.ie/vbulletin/showthread.php?p=116968846

    Current DAFT number is 15,804 ads which has had a small increase since 4 weeks previous


  • #248
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,274 ✭✭✭✭Cyrus


    i saw an interesting proposal on askabout money, basically extend the rent a room relied to landlords, you can rent out a property for 12k per annum without paying tax and if it goes over 12k then you pay tax on the lot.

    maybe 12k isnt the right number but it would bring rents down youd imagine.

    less tax revenue for the exchequer though.


  • #249
    yagan
    Registered Users, Registered Users 2 Posts: 3,571 ✭✭✭yagan


    awec wrote: »
    In 5 years time it'd still be sitting on the desk of some civil servant who needs to review something or other.
    That the kind of excuse politicans trot out when they've got conflicting interests that mean they simply won't do what they say they would.

    Fianna Fail are outbidding FTBs solely to try to reverse their vote decline, which last year was their second worst result in their history. Obviously it's backfiring on them now.


  • #250
    Pussyhands
    Registered Users Posts: 8,239 ✭✭✭Pussyhands


    Cyrus wrote: »
    i saw an interesting proposal on askabout money, basically extend the rent a room relied to landlords, you can rent out a property for 12k per annum without paying tax and if it goes over 12k then you pay tax on the lot.

    maybe 12k isnt the right number but it would bring rents down youd imagine.

    less tax revenue for the exchequer though.

    Would just mean landlords collect portion in cash instead and get away with paying no tax.


  • #251
    timmyntc
    Registered Users, Registered Users 2 Posts: 7,125 ✭✭✭timmyntc


    Cyrus wrote: »
    i saw an interesting proposal on askabout money, basically extend the rent a room relied to landlords, you can rent out a property for 12k per annum without paying tax and if it goes over 12k then you pay tax on the lot.

    maybe 12k isnt the right number but it would bring rents down youd imagine.

    less tax revenue for the exchequer though.

    Expect properties to be split into tons of 1 bed "apartments" with communal kitchens & bathrooms were something like that to be done.


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