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Almost €100,000 income needed for cheapest Dublin apartments

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  • 26-01-2021 7:54pm
    #1
    Taylor365
    Registered Users Posts: 2,994 ✭✭✭


    https://www.independent.ie/business/personal-finance/property-mortgages/income-of-100000-needed-for-cheapest-dublin-apartments-40010945.html
    Chair of the SCSI working group Paul Mitchell said Build To Rent developments are more economically viable as there are fewer restrictions relating to the apartment mix, car parking and size.
    He said they are also more attractive to pension funds, which can take a longer-term view of the asset.

    Mr Mitchell added: "It is not surprising therefore that 76% of the units analysed are for rental rather than sale."
    Aka, the only investment in town were you can plug in billions and see a substantial return, even if the properties are EMPTY.

    On rte news just earlier, i think Darragh O'Brien, the housing minister, said something along the lines of looking at "how we build property in the future".

    Completely ignoring the policies in place that put property as the only investment in town and only obtainable/realistic at a corporate level. The 100s of horror stories on here will tell you how corrupt legislation here is compared to the rest of Europe.

    As long as these lads are in - property/rent will be climbing, more and more will be reliant on the state for housing and the middle class will continue to be squeezed.


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    #2
    Idbatterim
    Registered Users Posts: 17,840 ✭✭✭✭Idbatterim


    <SNIP>


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    #3
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    ModNote

    Idbatterim, please stop lifting and posting entire articles.

    If you are going to post snippets or links, they should be accompanied by your opinion/commentary/interpretation.

    Thanks


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    #4
    DubCount
    Registered Users Posts: 1,065 ✭✭✭DubCount


    Taylor365 wrote: »
    ...As long as these lads are in - property/rent will be climbing...

    It doesn't matter what lads are in, because none of the lads will tackle the real problems.

    Our planning system is slow and full of political influence from lads in all parties.
    We like the idea of cheaper accommodation, so long as its not next door to us.
    Our building regulations are over-specified.
    We charge too much in taxes and levies to new developments. None of the lads want to increase other taxes to replace that income.
    Our banks charge too much money to finance development, and the lads dont want to intervene in that.
    Building is a labour intensive activity and our minimum wages and other wage rates are higher than other parts of Europe.
    Our planners want high density, but we all want low density like we remember from our own childhoods.

    Which of the other lads is recommending high density cheap development in their constituencies, or reducing building regulations or labour rates to bring down the cost of building, or providing cheap finance to developers, or reducing taxes on developers.


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