Boards.ie uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Click here to find out more x
Post Reply  
 
 
Thread Tools Search this Thread
12-07-2020, 20:15   #31
Bass Reeves
Registered User
 
Join Date: Nov 2015
Posts: 6,786
Quote:
Originally Posted by Spring Celebrator View Post
Yeah I have a friend who was offered the same deal. He won't hesitate to move to his home country with 50% cheaper houses with a higher standard.
MN's will insist on a residential requirement in Ireland If WFH creates costs or risks for them. Those that assume that WFH will cause a collapse in Dublin house prices forget that WFH will be a 3-10 year process. It will have a bigger effect on commercial property rather than residential.
Bass Reeves is online now  
Advertisement
12-07-2020, 20:27   #32
sanfranbest
Registered User
 
sanfranbest's Avatar
 
Join Date: May 2020
Posts: 16
Quote:
Originally Posted by Bass Reeves View Post
MN's will insist on a residential requirement in Ireland If WFH creates costs or risks for them. Those that assume that WFH will cause a collapse in Dublin house prices forget that WFH will be a 3-10 year process. It will have a bigger effect on commercial property rather than residential.
WFH will be a 3-10 process,,,,,,,,I disagree,,, Covid 19 is here and until a vaccine is found, WFH will be implemented immediately,
I agree that commercial property may take a bigger hit, but high end residential areas will be hit hard also.
It took fours years from 2008 for residential property prices to hit bottom,, so its all a big guess as to how the next few years will pan out.
sanfranbest is offline  
12-07-2020, 20:31   #33
Cyrus
Registered User
 
Join Date: Jan 2003
Posts: 12,346
Quote:
Originally Posted by sanfranbest View Post
Yes the corollary will be??????????

If all the high earning Techie's move out of Dublin,,, who will support all the trendy cafes, restaurants and bars in the Camden quarter,,,,,
Portobello is currently Techie central, walking distance to Facebook etc.
The prices in those houses by the beach in Wexford will become a lot more expensive than they are currently
Cyrus is offline  
(3) thanks from:
12-07-2020, 20:40   #34
Hubertj
Registered User
 
Hubertj's Avatar
 
Join Date: Apr 2020
Posts: 624
Quote:
Originally Posted by sanfranbest View Post
This house was listed last year for 575k, it sold for 675K in Dec 2019, 100K over the asking price,
thats how crazy prices are in some parts of Dublin,,,,,,,,,,
I would guess it was a few Techie's bidding against each other,,,
I know its nice, but a 89 sqm, two bedroom, one bathroom terraced house for 675K,,,,,,,,,,,,,,,Thats back to Celtic Tiger madness.
Maybe the Techie's who bought it can now work from home and would rather have a nice four bedroom house on the beach in Wexford for less than they paid for this tiny house,,,,,,

https://www.myhome.ie/residential/br...blin-8/4361567

Working from home will affect a lot of properties in Dublin,,,,,,,,,,,,,,
Sorry I’m confused by this. You said it sold in dec 19? But the linK you provided says sales agreed. Are you saying it has been sold on again since dec 19?
Big money for a small house...
Hubertj is offline  
12-07-2020, 20:43   #35
Bass Reeves
Registered User
 
Join Date: Nov 2015
Posts: 6,786
Quote:
Originally Posted by sanfranbest View Post
WFH will be a 3-10 process,,,,,,,,I disagree,,, Covid 19 is here and until a vaccine is found, WFH will be implemented immediately,
I agree that commercial property may take a bigger hit, but high end residential areas will be hit hard also.
It took fours years from 2008 for residential property prices to hit bottom,, so its all a big guess as to how the next few years will pan out.
Yes WFH may be implemented immediately but it will be 3-10 years before it begins to effect property prices. It effect may be a stabilizing rather than a collapse in prices.

A government decision to build 10k social and affordable houses in Dublin per year may have a bigger effect but that is 18-24 months before coming on line
Bass Reeves is online now  
Advertisement
12-07-2020, 20:58   #36
schmittel
Registered User
 
Join Date: Apr 2011
Posts: 1,149
Quote:
Originally Posted by Bass Reeves View Post
Yes WFH may be implemented immediately but it will be 3-10 years before it begins to effect property prices. It effect may be a stabilizing rather than a collapse in prices.

A government decision to build 10k social and affordable houses in Dublin per year may have a bigger effect but that is 18-24 months before coming on line
Surely if meaningful numbers of WFH are implemented immediately then prices will be effected immediately? I don't get the cause of the 3-10 year lag?
schmittel is offline  
12-07-2020, 21:14   #37
Deub
Registered User
 
Join Date: Apr 2013
Posts: 453
Companies have lease contracts for the building they currently use. They have no incentive to add extra cost for the WFH setup and pay the rent. They are likely to do it by stages. If they have 5 years left on the lease they will start the transition before but they will not go full WFH now.

The way I see it, it should be a big win for MNCs. They will have lower rent costs but they will also pay less the employees. They will not pay the Dublin salary if you live in Waterford. Facebook already said it. It will mean less investments in Ireland from MNCs.

In addition, many have their HQ here for tax reasons and countries are going after this loophole. If MNCs are not saving money being in Ireland, they will move.
Deub is online now  
(3) thanks from:
12-07-2020, 21:18   #38
Bass Reeves
Registered User
 
Join Date: Nov 2015
Posts: 6,786
Quote:
Originally Posted by schmittel View Post
Surely if meaningful numbers of WFH are implemented immediately then prices will be effected immediately? I don't get the cause of the 3-10 year lag?
Just because people get the option to WFH it is unlikely that a large number of people will opt to change the location where they live. Yes so e who are renting may opt to move. However it is unlikely that the numbers who do will suddenly effect property prices. As well just because you get the option to WFH your partner/spouse may still be located in Dublin. As well if your skill/ career prospects are Dublin based ( financial services, tech based etc) it would not mean you suddenly up sticks and move to the stick.

Younger people are attracted to Dublin and the lifestyle it unlikely to change. As I posted as well technical difficulty for MN companies with WFH will have to be overcome as well
Bass Reeves is online now  
(3) thanks from:
12-07-2020, 21:20   #39
Bass Reeves
Registered User
 
Join Date: Nov 2015
Posts: 6,786
Quote:
Originally Posted by Deub View Post
Companies have lease contracts for the building they currently use. They have no incentive to add extra cost for the WFH setup and pay the rent. They are likely to do it by stages. If they have 5 years left on the lease they will start the transition before but they will not go full WFH now.

The way I see it, it should be a big win for MNCs. They will have lower rent costs but they will also pay less the employees. They will not pay the Dublin salary if you live in Waterford. Facebook already said it. It will mean less investments in Ireland from MNCs.

In addition, many have their HQ here for tax reasons and countries are going after this loophole. If MNCs are not saving money being in Ireland, they will move.
In other words for many be careful what you wish for
Bass Reeves is online now  
Thanks from:
Advertisement
12-07-2020, 21:28   #40
sanfranbest
Registered User
 
sanfranbest's Avatar
 
Join Date: May 2020
Posts: 16
Quote:
Originally Posted by Hubertj View Post
Sorry I’m confused by this. You said it sold in dec 19? But the linK you provided says sales agreed. Are you saying it has been sold on again since dec 19?
Big money for a small house...
No, it went sale agreed last year, but it takes forever to show up on the property price register,
here is the link

https://www.propertypriceregister.ie...A?OpenDocument
sanfranbest is offline  
Thanks from:
12-07-2020, 21:29   #41
schmittel
Registered User
 
Join Date: Apr 2011
Posts: 1,149
Quote:
Originally Posted by Bass Reeves View Post
Just because people get the option to WFH it is unlikely that a large number of people will opt to change the location where they live. Yes so e who are renting may opt to move. However it is unlikely that the numbers who do will suddenly effect property prices. As well just because you get the option to WFH your partner/spouse may still be located in Dublin. As well if your skill/ career prospects are Dublin based ( financial services, tech based etc) it would not mean you suddenly up sticks and move to the stick.

Younger people are attracted to Dublin and the lifestyle it unlikely to change. As I posted as well technical difficulty for MN companies with WFH will have to be overcome as well
It will only take a small number of FTBers to look incrementally further afield to get more bang for their buck to effect demand and thus prices. If WFH is a widespread option this will happen fairly quickly.

Personally I think WFH is just one (fairly significant) part of a perfect storm of headwinds facing the market, all of which in combination could have a pretty meaningful effect.

The tipping point will be if airbnbs in RPZs are shut down. I am surprised our new Minister has not made noises about this yet. I am beginning to think maybe he won't.
schmittel is offline  
Thanks from:
12-07-2020, 21:53   #42
yes there
Registered User
 
yes there's Avatar
 
Join Date: Apr 2014
Posts: 299
Decided to move out of Dublin this weekend. Ploughing thousands down the drain paying rent since march and barely there. Was about to buy pre march but now obviously I'll get a greater bang for my buck 1 hr outside.

Regarding social life, I will still play football for my club an probably on average stay once a month there for nights out gigs shows etc. Still saving money plus saving taxis(when I can get one) while staying in hotel so some implicit benefits also. Also gilf club membership will be a grand cheaper. Probably cost me 30 quid diesel going to office once a fortnight. That Was the concerning part, the social aspect but thought long and hard this past few months and can't believe how stupid of a mistake I could have made. Hindsight and lucky timing i guess.

Was prepared to spend half a mill on a place, basic two two down cramped old house, needing renovations with a basic extension and long garden like 4 of my close friends and cousin have just done. Just to live in a nice area and still have limited privacy.

I think the prudent decision is to sit it out for awhile, pay cheaper rent then pull the plug on a home that's just right. A home actually worth half a mill. 1 hr or 1hr20mins outside is perfectly manageable from a social perspective for me. In fact i spend nearly half an hour driving from cabra to milltown/templelogue to see friends anyway, can't see what difference an extra 40 mins will make there.

I just hope we all have jobs in 6 months because if another wave hits were ****ed. Don't think we can stand another lockdown
yes there is offline  
12-07-2020, 22:25   #43
seenn00J
Registered User
 
seenn00J's Avatar
 
Join Date: Jun 2020
Posts: 10
I'd just like to add my 2c here, the reason people live in Dublin isn't just because they work there. Easier access to employment is a feature of most capital cities of the world alright, but I could list countless other reasons why it's a more favorable place to live than rural life in Longford or Westmeath. So WFH policies are not imo going to cause an exodus from Dublin and knock-on crash in property prices. Especially people who already have roots in the capital (family, friends, children's schools, etc).
seenn00J is offline  
(4) thanks from:
12-07-2020, 22:39   #44
yes there
Registered User
 
yes there's Avatar
 
Join Date: Apr 2014
Posts: 299
Quote:
Originally Posted by seenn00J View Post
I'd just like to add my 2c here, the reason people live in Dublin isn't just because they work there. Easier access to employment is a feature of most capital cities of the world alright, but I could list countless other reasons why it's a more favorable place to live than rural life in Longford or Westmeath. So WFH policies are not imo going to cause an exodus from Dublin and knock-on crash in property prices. Especially people who already have roots in the capital (family, friends, children's schools, etc).
Fwiw, I would prefer to live in Dublin but I prefer value for money. I can live with having to spend an extra 30 mins travelling. Kilkenny, athlone for example are not exactly rural. Still commutable regualty for work and see friends. Bit your right the only roots I have there is friends and cousin. So it's easy for me. The majority I guess are from Dublin wicklow kildare which wouldn't move outside further as easily as i am prepared to do
yes there is offline  
Thanks from:
13-07-2020, 08:58   #45
JimmyVik
Registered User
 
JimmyVik's Avatar
 
Join Date: Apr 2020
Posts: 1,049
Quote:
Originally Posted by Bass Reeves View Post
Just because people get the option to WFH it is unlikely that a large number of people will opt to change the location where they live. Yes so e who are renting may opt to move. However it is unlikely that the numbers who do will suddenly effect property prices. As well just because you get the option to WFH your partner/spouse may still be located in Dublin. As well if your skill/ career prospects are Dublin based ( financial services, tech based etc) it would not mean you suddenly up sticks and move to the stick.

Younger people are attracted to Dublin and the lifestyle it unlikely to change. As I posted as well technical difficulty for MN companies with WFH will have to be overcome as well
Id move down the country if i could work from home 5 days a week.
I would only get 3 days per week max so not attractive to me.

The other half will not change the kids schools though. So moving down the country is out for now.
Then there is the whole psychology of moving to another town. I would be ok with it, but other half wouldnt. Therefore thats out for that reason too.


Lots of foreigners who come to work in my company would just go home if the job wasnt in dublin. They will only live in Dublin.
JimmyVik is offline  
(4) thanks from:
Post Reply

Quick Reply
Message:
Remove Text Formatting
Bold
Italic
Underline

Insert Image
Wrap [QUOTE] tags around selected text
 
Decrease Size
Increase Size
Please sign up or log in to join the discussion

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Share Tweet