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will house prices in dublin fall post brexit?

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Comments

  • #152
    Assetbacked
    Closed Accounts Posts: 2,969 ✭✭✭Assetbacked


    Amirani wrote: »
    How many businesses pay tax directly on their revenue?

    This is off topic.

    There is a specific tax neutral regime purely for REITs allowing them not to pay any tax on their rental income (subject to meeting relatively light conditions). This is entirely unfair on private landlords yet tenants and private landlords seem to square off against each other, wrongly.

    The investors in REITs are majority based abroad. This means the wages and salaries earned in Ireland and going towards REIT landlords is being sucked out of the economy. REITs are vultures to our economy and offer nothing but take everything. The REIT and soon L-QIAIF tax neutralising regimes need to, as a matter of urgency, be quenched.


  • #153
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,614 Mod ✭✭✭✭Gumbo


    RayCun wrote: »
    Again, you haven't provided evidence that REITs will universally increase rent at every available opportunity.

    You have linked to a story about one REIT which says they look to increase rent subject to legislation and market conditions. Something tells me you could find plenty of private landlords who would say exactly the same thing.

    Hampton Wood in Finglas.
    Every 2 bed in the development was renting for €1350.

    REIT bought a new block of 128 apartments this year. They immediately advertised them for €1750.

    I have been involved in about 5 large apartment blocks in Dublin this year alone that went to REITS. All went to rent above what was the general cap for similar properties beside them.


  • #154
    RayCun
    Registered Users, Registered Users 2 Posts: 15,704 ✭✭✭✭RayCun


    Do you understand the difference between anecdote and data?

    It could well be that REITs increase rents more than private landlords. I don't know enough to say either way. But no-one has provided evidence either way yet. (Maybe that kind of information hasn't been collected, I don't know)


  • #155
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,614 Mod ✭✭✭✭Gumbo


    RayCun wrote: »

    It could well be that REITs increase rents more than private landlords. I don't know enough to say either way. But no-one has provided evidence either way yet. (Maybe that kind of information hasn't been collected, I don't know)

    My experience backs up your statement that REITS increase rent more.
    Maybe someone has access to rental ads from last year compared to this year.

    Current 2 beds for rent in the above area are €1550 while the REIT advertised the lower level ones for €1700.


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