Irish Property Market 2020 Part 2

The Belly

Graham wrote: »

The coronavirus restrictions are only likely to stay forever if the pandemic stays forever.

I don't think even the most pessimistic expect that to happen.

tough winter but should be out of the woods then but need to keep the economy going.

neutral guy

Graham wrote: »

The coronavirus restrictions are only likely to stay forever if the pandemic stays forever.

I don't think even the most pessimistic expect that to happen.

Asia live with masks on faces long years now this life style came to Europe.If not one then the next virus will come.But now many companies will start work on minimising risks financial and human and this will change plenty include property prices.

The Belly

neutral guy wrote: »

Asia live with masks on faces long years now this life style came to Europe.If not one then the next virus will come.But now many companies will start work on minimising risks financial and human and this will change plenty include property prices.

it will and probably a good thing too. Work as it was has changed. However if will gut the cities. And then no jobs for all the ancillary companies.

Hubertj

neutral guy wrote: »

I will not tell much about everything
Just about hotels
The main profits hotels had from conferences/meetings were people was coming from around the world
Now people communicating online organising conferences/meetings and many are happy about it
There is number of great start ups making millions already working on technologies for it
Hotels will never back to normal life same as employees in them
Same as Dublin airport
On every step were you see movements from traditional life style to new will be changes forever
Or as said one of my mates who has pub We will Never back to normal even if economy will starting moving again
Same as people who started drink with friends at home or guys who started make sandwiches to work at home
Economy are heavily damaged the economy which still did not recover from 2008 recession
You could continue live in pink world dreaming about back to normal but we will never will back to normal again
There will be only worse before government will find out which they still did not found since last recession.

Its sad we have people in this country think like you. Thankfully you’re in a minority.

The Belly

Hubertj wrote: »

Its sad we have people in this country think like you. Thankfully you’re in a minority.

well at least he can speak as is allowed to right or wrong. and not be put down by you.

Graham

I do expect there will be many lessons learned and changes made post pandemic. It's hard to guess how this will impact the property market.

Personally I can see slightly lower demand for large scale offices and city centre apartments but I wouldn't like to guess if it will be enough to move the needle significantly.

Graham

Mod Note

Hubertj, attack the post. Not the poster. Your comments are getting a little too personal.

The Belly

Graham wrote: »

I do expect there will be many lessons learned and changes made post pandemic. It's hard to guess how this will impact the property market.

Personally I can see slightly lower demand for large scale offices and city centre apartments but I wouldn't like to guess if it will be enough to move the needle significantly.

I can see repurposing. Demand is still there. Planning laws may change fast so commercial doesn't sit there for 10 years. If was in the market i would be in commercial with the intention of residential. Waiting game though.

neutral guy

Hubertj wrote: »

Its sad we have people in this country think like you. Thankfully you’re in a minority.

Hope for the best and prepare for the worst

The Belly

neutral guy wrote: »

Hope for the best and prepare for the worst

An old a very wise saying. Nobody wants to be negative but nobody wants to be a fool either so get ready for bad and hope it is not bad.

q85dw7osi4lebg

Unbelievably low supply in East Meath / Louth. Very few new properties coming to the market, but all stock that is up is selling (supply / demand etc). Too early to check PPR really but no sign of slowing down here yet. Interesting times.

The Belly

Yaretzi Swift Muzzle wrote: »

Unbelievably low supply in East Meath / Louth. Very few new properties coming to the market, but all stock that is up is selling (supply / demand etc). Too early to check PPR really but no sign of slowing down here yet. Interesting times.

Pent up demand. It will ease though.

q85dw7osi4lebg

The Belly wrote: »

Pent up demand. It will ease though.

No doubt. When will it ease though?

bobbyy gee

I sold 10 properties in January just before pandemic
I see 2 of them up for sale for less than they paid.

The Belly

Yaretzi Swift Muzzle wrote: »

No doubt. When will it ease though?

we are heading into the eye of the storm now. My guess is it will be a bit all over the place as pentup demand is sorted and the the economy comes into very sharp focus.

Bass Reeves

neutral guy wrote: »

From own experience and memory

House price in 2004 190 K
Breakfast roll in shop on corner 2.40
Today same house price 190 K
The breakfast roll price on same corner 4.80
Minimum wage 2004 6 euros per hour
Minimum wage today 10 euros per hour

One can selectively pick any two moment in time and and get any result you want. For years some pension companies have being doing it to the exaggerate there returns.

If you are going to that corner shop that charging 4.80 for a BR you are a soft touch. Most breakfast rolls are about 4 euro on a verage. 2004 was a period of a downturn we had in the early noughties, by 2007/8 the BR was in the 4-4.50 mark it dropped to 3 euro after that and even could be got for 2.5. In 2004 minimum wage was actually 7/ hour.

We are back to ''be carefull what you wish for''

Hubertj

neutral guy wrote: »

Hope for the best and prepare for the worst

Surround yourself with positive people

neutral guy

Yaretzi Swift Muzzle wrote: »

Unbelievably low supply in East Meath / Louth. Very few new properties coming to the market, but all stock that is up is selling (supply / demand etc). Too early to check PPR really but no sign of slowing down here yet. Interesting times.

I keep eye on property in Louth last couple years.Many houses are overpriced not sold for years and not much new coming.I worked in building industry people build plenty new houses them self also huge number of extensenions and garage conversions to help children save money on rents.My couple mates bought log cabin types houses one 2 beds was built on his father farm land by company from Eastern Europe for only 26K and another guy got piece of land from his father were another company from Eastern Europe built 3 beds house which cost him 50 K for everything include curtains on windows.

Hubertj

Yaretzi Swift Muzzle wrote: »

Unbelievably low supply in East Meath / Louth. Very few new properties coming to the market, but all stock that is up is selling (supply / demand etc). Too early to check PPR really but no sign of slowing down here yet. Interesting times.

Is the area served by train services? Perhaps that is why property is popular along with reduced supply.

Ozark707

bobbyy gee wrote: »

I sold 10 properties in January just before pandemic
I see 2 of them up for sale for less than they paid.

In Dublin or outside?

Bass Reeves

neutral guy wrote: »

I keep eye on property in Louth last couple years.Many houses are overpriced not sold for years and not much new coming.I worked in building industry people build plenty new houses them self also huge number of extensenions and garage conversions to help children save money on rents.My couple mates bought log cabin types houses one 2 beds was built on his father farm land by company from Eastern Europe for only 26K and another guy got piece of land from his father were another company from Eastern Europe built 3 beds house which cost him 50 K for everything include curtains on windows.

As Bertie would say
''your waffling''

All of these stories are immaterial. The reason being that not everyone has a farm, house or garden big enough for a log hut, or a house that can be extended to two dwellings.

Your mate's log hut is grand, is he paying property tax on it, has he planning for it, is the septics tank planning compliant now. Extension's to houses are grand but these house are not attractive to sell down the line and maybe after spending 50-100k they will be no more valuable than the uuextended house next door. Finally what you are quoting as a example are jobs that sound like cash jobs no vat paid and cash paid for labour. With most of these jobs lads fail to keep complete costings and most cost 20-30% above what lads think.

Finally on recessions lads should remember the books of rules and in the last rules in section 2 of that rule subsection 7 it clearly states

All recessions are different, plans made to benefit from the rarely manage to be implemented. Even if implemented the outcome is rarely what is predicted.


It funny we have lads here yelling how they were f@@ked over in the last recession, they failed to buy on the upturn and they expect to get the timeing right this time.

You have to wonder at times

neutral guy

https://www.independent.ie/business/irish/five-star-radisson-blu-in-dublin-offers-student-accommodation-from-500-39524047.html

Five-star Radisson Blu in Dublin offers student accommodation from €500



It is only 500 per week at the moment but I am pretty sure soon enough other hottels will make it 1000 per month.
Were will put them property leverage business people when mortgage holidays will be ended I do not know.

Bass Reeves

neutral guy wrote: »

https://www.independent.ie/business/irish/five-star-radisson-blu-in-dublin-offers-student-accommodation-from-500-39524047.html

Five-star Radisson Blu in Dublin offers student accommodation from €500



It is only 500 per week at the moment but I am pretty sure soon enough other hottels will make it 1000 per month.
Were will put them property leverage business people when mortgage holidays will be ended I do not know.

You see again you are overthinking it. In your active imagination you failed to see the bigger picture.

Colleges are having students on site with one week in four or else one day a week. No point in hotels offering monthly deals.

Hotels will have sanitation costs so there is only so much prices will fall and they will be limited by the numbers they can accommodate.

Biggest losers will be student accommodation but it may react and drop prices

Ozark707

neutral guy wrote: »

https://www.independent.ie/business/irish/five-star-radisson-blu-in-dublin-offers-student-accommodation-from-500-39524047.html

Five-star Radisson Blu in Dublin offers student accommodation from €500



It is only 500 per week at the moment but I am pretty sure soon enough other hottels will make it 1000 per month.
Were will put them property leverage business people when mortgage holidays will be ended I do not know.

Even if it goes to 1k a month why would a student pay that?

Ozark707

Bass Reeves wrote: »

Biggest losers will be student accommodation but it may react and drop prices

Or as they have started to do look at changing planning conditions to be allowed to target non students.

neutral guy

Bass Reeves wrote: »

As Bertie would say
''your waffling''

All of these stories are immaterial. The reason being that not everyone has a farm, house or garden big enough for a log hut, or a house that can be extended to two dwellings.

Your mate's log hut is grand, is he paying property tax on it, has he planning for it, is the septics tank planning compliant now. Extension's to houses are grand but these house are not attractive to sell down the line and maybe after spending 50-100k they will be no more valuable than the uuextended house next door. Finally what you are quoting as a example are jobs that sound like cash jobs no vat paid and cash paid for labour. With most of these jobs lads fail to keep complete costings and most cost 20-30% above what lads think.

Finally on recessions lads should remember the books of rules and in the last rules in section 2 of that rule subsection 7 it clearly states

All recessions are different, plans made to benefit from the rarely manage to be implemented. Even if implemented the outcome is rarely what is predicted.


It funny we have lads here yelling how they were f@@ked over in the last recession, they failed to buy on the upturn and they expect to get the timeing right this time.

You have to wonder at times

Houses connected to existed tanks .

The companies from Eastern Europe were official which make houses at home paying taxes and vats and export houses around Europe with fitting included.Many of them reduced priced due with downturn in economy on main markets as Sweeden,Denmark,Norway.The price of log cabin is from 350 euros for square mtr and those houses are perfect for Ireland warm weather conditions .The more popular those houses will be /are already the less demand will be on traditional property .Thousands overpriced houses for sale over number of years already and will be more.

F the planing permisions on farmer land ! This guys could save money for proper house living on unregistered property for another 20 years easily saving money for proper house not paying rent and convert them log cabin to shed for pigs or holiday home after!

The 2 beds 40 years old bungalow in Blackrock/Louth 270K
The property owner keep dreaming about this price about 2 years

In this time brand new houses was built behind the corner were 3 beds cost 230K

neutral guy

Bass Reeves wrote: »

You see again you are overthinking it. In your active imagination you failed to see the bigger picture.

Colleges are having students on site with one week in four or else one day a week. No point in hotels offering monthly deals.

Hotels will have sanitation costs so there is only so much prices will fall and they will be limited by the numbers they can accommodate.

Biggest losers will be student accommodation but it may react and drop prices

Yes,they stay in college for 1 week and after coming back to mammy and dady waiting for another check from them to pay for education.

My friend,lot of students has jobs to pay for education ! And they does not live in cupboard boxes beside them work places in Dublin.

neutral guy

Ozark707 wrote: »

Even if it goes to 1k a month why would a student pay that?

Because it is better than live in basement in Dublin and share bed with room mate at same price !

neutral guy

Ozark707 wrote: »

Or as they have started to do look at changing planning conditions to be allowed to target non students.

They will get everything they want now.Hospitality sector need massive government help and government will give everything what will not cost money for government

The question is what will do overpriced renting property owner who bought property by Buy to Rent idea and has pay mortgages to the bank when there will be no renters in his second,fifth,seventh house.

Pelezico

neutral guy wrote: »

Because it is better than live in basement in Dublin and share bed with room mate at same price !

Neutral guy....student rent in Dunlin is coming down. People will not pay 1k per month. That is too much to bear when rent is 60% of that.