SEPT 2012: Irish house prices more expensive than Germany

Villa05

For those who believe there is value out there. Germany is growing and economy is healthy, Ireland is a basket case, paying underpants allowances to Defense staff

The IMF working paper finds that Irish prices are no longer misaligned, but are still more expensive than countries such as Germany when wages and other factors are taken into account.

http://www.independent.ie/business/personal-finance/property-mortgages/gloom-beats-boom-as-house-prices-fall-faster-here-than-anywhere-else-3234147.html

Victor

The cultural, social and legal frameworks are different, so one needs to take all factors into account, not just price.

Importantly, population is rising in Ireland, but falling in Germany.

RATM

Difficult to compare the two as Victor says. But it is true to say that Ireland is a basket case and remains so.

Here is what the German ambassador said about Ireland in 2007 and got lashed out of it by Dermot Ahern for saying it. Have a read and ask yourself how much has changed in 5 years from his original prognosis

http://www.independent.ie/national-n...h-1081773.html
THE German Embassy in Ireland has moved to defuse a diplomatic row after the German Ambassador described Ireland as 'coarse' and criticised our public service system.

Christian Pauls was given a firm diplomatic reprimand over the remarks which "talked down" Ireland to an 80-strong group of potential investors. He was given the verbal rap on the knuckles by the Department of Foreign Affairs' Secretary General, Dermot Gallagher, on the explicit instructions of Minister Dermot Ahern.

He was told bluntly last Thursday morning that his remarks at a function in Clontarf Castle in Dublin to visiting German industrialists were "inaccurate, misinformed and inappropriate at a public forum".

..

In his 15-minute speech the ambassador said:

- Ireland was a "coarse place".
- Junior ministers here earned more than the German Chancellor.
- Some 20pc of the population were public servants.
- Our "chaotic" hospital waiting lists would not be tolerated anywhere else.
- Wage demands were too high.
- Our immigration policy was wrong and we had learned nothing from Germany or the Nordic countries.

He also cited the doctors' rejection of €200,000 a year posts on the basis that this sum was "Mickey Mouse" money and referred to the former dominant position of the Catholic Church within the country.

His listeners, mainly members of the German Federation of Buying and Marketing groups, representing medium-sized businesses, loved his delivery.

Riskymove

Villa05 wrote: »

hmm....but are still more expensive than countries such as Germany when wages and other factors are taken into account

what does this actually mean then?

I take it the gross value of the houses in Germany are actually more expensive than Ireland?

Overflow

House's in Ireland are a lot more expensive than houses in Norway, go figure !

Lawrence1895

Renting is much more popular in Germany, than it is in Ireland. Maybe that's a deciding factor as well

golden lane

a house only has the value that somebody is willing to pay for it....

Slydice

All excellent points defending our high priced housing.

Surely Ireland is different.

I mean like
- the CSO showed we had almost 300,000 empty houses on census night
- around 30,000 people left the country in the last year
- even with 30,000 leaving, there are still 400,000 unemployed
- banks aren't lending money
- people can't pay their mortgages and are going through hellish amounts of stress
- the country is broke and in a 'bailout' programme

Clearly that all means that our housing market is just fine.


Jaysus, some of you lot still living in the past? Get out of the feckin Denial stage already.

nxbyveromdwjpg

How many times is that old graph going to be regurgitated up on this forum?

Germany and Ireland = not the same, not a like for like comparison, there are many countries with house prices more expensive than Germany. Why is this even a headline?

OMD

Slydice wrote: »

All excellent points defending our high priced housing.

Surely Ireland is different.

I mean like
- the CSO showed we had almost 300,000 empty houses on census night
- around 30,000 people left the country in the last year
- even with 30,000 leaving, there are still 400,000 unemployed
- banks aren't lending money
- people can't pay their mortgages and are going through hellish amounts of stress
- the country is broke and in a 'bailout' programme

Clearly that all means that our housing market is just fine.


Jaysus, some of you lot still living in the past? Get out of the feckin Denial stage already.

Which post exactly are you talking about

washman3

golden lane wrote: »

a house only has the value that somebody is willing to pay for it....

Or more to the point, "the value of a house is what it will make when one has to sell it".
Thus the introduction of NAMA, possibly the most corrrupt decision ever made by any government anywhere in the world regarding property,has grossly interfered with the levelling out of the property market.