Property

honeymonster

I have an interest in property development and I want to get more information on how the industry operates, particularly in Ireland. I was wondering if anyone had read any books on the topic that they would recommend or warn to avoid.

Cheers,

Stephen

Victor

Realise we are at or very near the top of the market, so there is little scope to make serious money.

There are two real options (a) invest in the property funds offered by banks, which should give a reasonable, but secure return (b) buy on your own / as a small group of investors, but expect more risks and more arguments.

Cantab.

honeymonster wrote:

I have an interest in property development...

So has every man and his dog in this country I'm afraid.

lomb

Cantab. wrote:

So has every man and his dog in this country I'm afraid.

lol:D

lomb

honeymonster wrote:

I want to get more information on how the industry operates, particularly in Ireland

greed, money, bribes,blackmail, the usual;)

r3nu4l

I would suggest starting small, easiest to begin with are apartments whose external upkeep is managed by another company.

An expensive but sometimes lucrative option is the whole corporate executive accommodation. You need a seriously good city location and top-spec flat with all the trimmings. You will need to present the living-space (don't call it an apartment, or worse, a flat!) to some of the major banks and investment houses, preferably in the IFSC in Dublin, explain that you are providing a comfortable, relaxing environment for the client/guest etc. The presentation (and the presenter) must look the business too, make these people feel that they would want to stay in this living-space if thery were abroad on business!

Of course, all this requires a business plan but can reap much larger rewards than the bog-standard, university-student-landlord-of-a-dive or the cram-as-many-refugees-into-this-s**thole-as-possible type of landlord!!

shepthedog

Irish Property Buyer magazine is a good read and there are a few other similar ones out there..

Not many good books on subject tho as many are UK based.Such as Sarah Beeneys spin off book from her show, Property Ladder, which actually isnt a bad read as contains case studys and normal advice.

onedmc

All this SELF renovate stuff that u see on UK TV simply dosnt apply in Ireland. In the UK they pay like 2% in stamp duty on purchases we pay 9% to 15%. And construction cost are higher both in terms of labour and products.

In ireland, to make money u need invest in much bigger projects and reduce your construction costs - be the actual builder

antoinolachtnai

The market for corporate executive accommodation is not what it once was in my experience.

I don't think it is correct to think that high-end property will give you a better yield than low-end property.

MrPudding

I think as onedmc says, stamp duty is the killer. The amount you would have to increase the value of the house to cover stamp duty makes it very difficult. That said, if I were doing it I would probably work at the lower end of the market as there will be less stamp duty and possibly a better chance of making money.

MrP