Irish property market

nvidic wrote: pre Madonna wrote: Zinedine Kilbane 110 wrote: nvidic wrote: Whelo79 wrote: There is a new development of houses and apartments going up beside where I live in North Dublin. The 160+ apartments are being sold as 1 lot to attract one of these investment funds to purchase it and every apartment will be put on the rental market.  Scandalous carry on. I'm sure there are hundreds of people who would want to but one of these apartments and they won't get the chance. The government should not be slowing this your of carry on.  I lived in a block like this, whats the harm? Brings lots of rentals to market at the same time which is great to relieve the market takes pressie off people looking for a spot for weeks or months. Lots on stream at once means rent won't be as high.  I got a top spec apartment with little energy bills for not much more than the going rate for any old apartment. Was delighted with it.  This could be a Waterford whispers article “Irish mans delighted to pay ridiculous high Dublin rent as his energy bills are low in his new apparetment owned by Chinese company Ho Lee Fuch” I have never read a post on an internet forum that has made me want to crawl inside myself and die; until now. I should point out, I occasionally read Stormfront , know your enemy and all that, but if this is the way people are thinking , I'm fully in favour of nuclear wipeout. Why? My old gaf was a 150 year+ old dump off dorset st, why wouldn't I be happy to get a far superior gaf for not much more money in a better location? would you not be? I've bought a gaf and had to rent over the last five years, found renting worse - much harder to get a place, there is a bad need for rental gafs at the minute and these schemes help with that.

Of course I would, I would hate my landlord just the same. It isn't the post that brings a need for nuclear wipeout(sic), it is the thought that property developers are 'helping' with the housing crisis in Dublin. Anybody who makes money off human beings existing and their need for housing is a parasite, they should not be held up as some sort of an example. That is what is wrong with society, the people who deserve the most praise rarely receive it.

nvidic wrote: pre Madonna wrote: Of course I would, I would hate my landlord just the same. It isn't the post that brings a need for nuclear wipeout(sic), it is the thought that property developers are 'helping' with the housing crisis in Dublin. Anybody who makes money off human beings existing and their need for housing is a parasite, they should not be held up as some sort of an example. That is what is wrong with society, the people who deserve the most praise rarely receive it. Oh, I hated my landlord, they were awful for the most part, Don't think I held them up as an example either? But yes, I was delighted they provided me with a brand new apartment to high spec at a good cost. At the same time, these units are badly needed and there's not too many people able to deliver them so catch 22.

Padraig wrote: The solution to our property crisis is a massive increase in social housing. Vienna, a far nicer city than Dublin in every regard, has much lower rent than Dublin because around 60% of Vienna's population live in social housing. Increased supply of housing will not decrease prices or rents if those supplying the housing intend to profit from it

MC Hammered wrote: Padraig wrote: The solution to our property crisis is a massive increase in social housing. Vienna, a far nicer city than Dublin in every regard, has much lower rent than Dublin because around 60% of Vienna's population live in social housing. Increased supply of housing will not decrease prices or rents if those supplying the housing intend to profit from it  Is that figure correct? It's very interesting if so. What's the story there, you live in the apartment until you die and then it goes back to the state? There's a bit of a stigma around social housing in Ireland.

MC Hammered wrote: Cheers. Practically speaking, how would something like this work in Ireland? Massive construction projects funded by the government/ taxpayer? It amazes me how we were able to fund huge social housing projects around Dublin (Crumlin, Drimnagh, Ballyfermot, Cabra, Finglas etc) back in the 40’s, 50’s and 60’s when Ireland was an economic backwater but it’s not possible to do it these days despite a genuine housing crisis.

Edited by rossieman - 17 Aug 2018 at 10:28am

rossieman wrote: MC Hammered wrote: Cheers. Practically speaking, how would something like this work in Ireland? Massive construction projects funded by the government/ taxpayer? It amazes me how we were able to fund huge social housing projects around Dublin (Crumlin, Drimnagh, Ballyfermot, Cabra, Finglas etc) back in the 40’s, 50’s and 60’s when Ireland was an economic backwater but it’s not possible to do it these days despite a genuine housing crisis. No profit out of it,it could be done but the powers that be would rather sell off council land to developers and let them build on it and threw in a small percentage of social/affortable housing. There was massive housing crisis back then too MC,people were living in squalor .

part of the reason rents are so high is that people who rent out property are hit with 48% tax, no that's not a typo it's 48% and the government are rubbing their hands.

Saint Tom wrote: greenlad wrote: part of the reason rents are so high is that people who rent out property are hit with 48% tax, no that's not a typo it's 48% and the government are rubbing their hands. Its at a person's marginal rate after expenses (including 80% of any interest on a loan) are deducted. Big difference