Irish Property Market 2020 Part 2

Cyrus

MacronvFrugals wrote: »

How convenient is this, an untouchable class of people in Ireland.

Multi-million Anglo write-offs may be impossible to investigate, commission say

https://www.irishtimes.com/news/ireland/irish-news/multi-million-anglo-write-offs-may-be-impossible-to-investigate-commission-says-1.4369445?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fnews%2Fireland%2Firish-news%2Fmulti-million-anglo-write-offs-may-be-impossible-to-investigate-commission-says-1.4369445

RTE stars, judges and rugby elite who owe Anglo millions

https://www.independent.ie/irish-news/rte-stars-judges-and-rugby-elite-who-owe-anglo-millions-29887499.html

whats the link between the two articles, theres no suggest that the "rte 'stars', judges and rugby 'elite' got a write off is there?

Pelezico

Cyrus wrote: »

whats the link between the two articles, theres no suggest that the "rte 'stars', judges and rugby 'elite' got a write off is there?

There is no connection. The last recession scarred everyone. We all owned a bit of blame too.

Everybody' spent too much and borrowed too much.

We have another almighty recession coming our way now. The fact that we have behaved ourselves is of little importance. This one for me seems bigger than the last.

Cyrus

Pelezico wrote: »

There is no connection. The last recession scarred everyone. We all owned a bit of blame too.

Everybody' spent too much and borrowed too much.

We have another almighty recession coming our way now. The fact that we have behaved ourselves is of little importance. This one for me seems bigger than the last.

that doesnt appear to be what the poster is inferring.

MacronvFrugals

Cyrus wrote: »

whats the link between the two articles, theres no suggest that the "rte 'stars', judges and rugby 'elite' got a write off is there?

Would it surprise you if they were, think of all the wiped penalty points for RTE stars and Rubgy players.

Look at all the dodgy NAMA deals, senators getting cheap apartments etc

It really shows Ireland was an incestious country, how does rugby player get 50 million in loans.

Purely wild wild west stuff there and we're all paying for it.

thomas 123

Cyrus wrote: »

whats the link between the two articles, theres no suggest that the "rte 'stars', judges and rugby 'elite' got a write off is there?

Article from 2014 about write offs.

Article from 3 hours ago saying they won’t be investigated.

Pretty clear imo.

Cyrus

thomas 123 wrote: »

Article from 2014 about write offs.

can you point out any reference to write offs in the 2014 article?

Cyrus

MacronvFrugals wrote: »

It really shows Ireland was an incestious country, how does rugby player get 50 million in loans.

how do you know it wasnt Tony O'Reilly? in fact it probably was.

three putt

PropQueries wrote: »

but it could be a significant source of unforeseen residential supply going forward none the less.

Supply that - according to you - is absolutely not needed, as there is already too much supply in the Irish housing market.
And demand will decrease because of demographic shifts and everyone moving to Eastern Europe.

thomas 123

Cyrus wrote: »

can you point out any reference to write offs in the 2014 article?

I can’t because they “can’t be investigated” 😂

Cyrus

thomas 123 wrote: »

I can’t because they “can’t be investigated” ��

either you didnt read the article or you are wilfully ignoring its content.

brisan

MacronvFrugals wrote: »

Looking IRES's portfolio they own lots of apartments in Ballymun, since the beginning of March a really high volume of these apartments have went up for sale, i wonder are they looking to quietly build up some cash reserves.

Probably were for the student rental market at DCU
That's gone now.

brisan

Pelezico wrote: »

Average rent projected at 1853pm with full occupancy. Why are so many vacant?

Because the rent is 1853

brisan

Darc19 wrote: »

Interesting to see most lots sell in today's bidx1 auction.

Prices of anything decent got 10%-20% above the amv.

A dozen or so properties that did not sell in the June 30th auction sold above the June reserve.

AMV is normally lower than market value to pique peoples interest

MacronvFrugals

Cyrus wrote: »

how do you know it wasnt Tony O'Reilly? in fact it probably was.

The amount of money needed to investigate this should be unlimited, the siteserv carry on proved its who know that matters in Ireland.

O' Reily, Siteserv and INM now they all share something common, better to not say unless under Dail privilege though :P

Pelezico

MacronvFrugals wrote: »

The amount of money needed to investigate this should be unlimited, the siteserv carry on proved its who know that matters in Ireland.

That is absolute nonsense. Siteserv has been rebranded as Actavo which has incurred enormous losses over the last few years.

I bet Denis I Brien wishes he never touched the company.

MacronvFrugals

Pelezico wrote: »

That is absolute nonsense. Siteserv has been rebranded as Actavo which has incurred enormous losses over the last few years.

I bet Denis I Brien wishes he never touched the company.

"Big companies win big state contracts"

brisan

Leozord wrote: »

Highest surge in asking price since Q1 2017



More details in: https://www.myhome.ie/reports

By looking at it, this Q3 was the "best" this year for covid when it comes to economic activity. It was expected that the price would go up.

I don't think the same will happen in Q4, but let's wait and see how it goes.

Lads its MyHome for God's sake

MacronvFrugals

brisan wrote: »

Probably were for the student rental market at DCU
That's gone now.

Good point, although i know quite a few are HAP tenancies.

Wouldnt they consider the HAP tenants certain money though?

brisan

Dick Turnip wrote: »

Yes, I've noticed that too. A house I viewed in July for 325k I see is now at 295k but they simply took down the old one and reposted as a new ad so the price drop wouldn't show. If possible, Daft should link a listing by eircode to avoid this.

Then the EA would not put up the Eircode

Pelezico

MacronvFrugals wrote: »

"Big companies win big state contracts"

The Siteserv carry on as you say implies Denis O Brien got a great deal with Siteserv purxhase.

Siteserv has been a financial disaster.

brisan

MacronvFrugals wrote: »

TIP: go onto twitter and search the address, any price changes over the last 10 years will be recorded by the myhome.ie bot account

There are still believe it or not some of us in the world who are not members of the Twitterati

Smouse156

Cyrus wrote: »

thats not evidence of falling prices though, its evidence of a developer over pricing their product.

In this case, that’s true but I posted examples previously of actual falling selling prices where the asking has stayed the same. Ashwood Hall, Daneswell Place and the houses in Brighton Wood have fallen compared to what they sold for in 2018/2019.

Now these are all at the higher end of the market 700k+ and I have actually seen price rises at the lower end outside Dublin.

MacronvFrugals

Pelezico wrote: »

The Siteserv carry on as you say implies Denis O Brien got a great deal with Siteserv purxhase.

Siteserv has been a financial disaster.

He always gets deals thats the problem, Ireland's very own oligarch threatening our parliament while sitting in Malta and still getting big state contracts!

The company installing Irish Water meters has racked up multimillion-euro profits

https://www.thejournal.ie/irish-water-meter-installer-profit-3-3531456-Aug2017/

MacronvFrugals

brisan wrote: »

There are still believe it or not some of us in the world who are not members of the Twitterati

Hahahah:) its very handy Bri especially cause EAs cant mess with the postings.

cnocbui

Pelezico wrote: »

There is no connection. The last recession scarred everyone. We all owned a bit of blame too.

Everybody' spent too much and borrowed too much.

We have another almighty recession coming our way now. The fact that we have behaved ourselves is of little importance. This one for me seems bigger than the last.

Very presumptuous of you - speak for yourself, not others.

silver2020

MacronvFrugals wrote: »

He always gets deals thats the problem, Ireland's very own oligarch threatening our parliament while sitting in Malta and still getting big state contracts!

The company installing Irish Water meters has racked up multimillion-euro profits

https://www.thejournal.ie/irish-water-meter-installer-profit-3-3531456-Aug2017/

profit was less than 5% of turnover - but you can go on the attack and create a fakeness by simply saying "millions" without looking at the turnover.

2.5m profit on a turnover of 54m is on the low side for such companies. Most companies would be looking at 8-12% net profits whereas companies like Apple get 20% net margins.

But people just like to attack someone like denis o'brien because that's what the leftist take take take types do.

Those building houses look for 10-15% profit margins which I think is on the high side and shows that there's always 7-10% bargaining in the price of new hosues

Pelezico

silver2020 wrote: »

profit was less than 5% of turnover - but you can go on the attack and create a fakeness by simply saying "millions" without looking at the turnover.

2.5m profit on a turnover of 54m is on the low side for such companies. Most companies would be looking at 8-12% net profits whereas companies like Apple get 20% net margins.

But people just like to attack someone like denis o'brien because that's what the leftist take take take types do.

Those building houses look for 10-15% profit margins which I think is on the high side and shows that there's always 7-10% bargaining in the price of new hosues

If you analyse Siteseev/Actavo accounts in recent years they lost 60m in 2017 and 2018.

A lot of poor contracts were inherited which is probably why Siteserv owed Anglo so much money in the first instance.

Anyway this has nothing to do with property.

Pelezico

cnocbui wrote: »

Very presumptuous of you - speak for yourself, not others.

Oh but I can say that. As a country we spent like there was no tomorrow. We bought overpriced property, went on fancy holidays and did not have a bean for the rainy days.
We also elected governments who doled out money to everyone.

MacronvFrugals

Pelezico wrote: »

If you analyse Siteseev/Actavo accounts in recent years they lost 60m in 2017 and 2018.

A lot of poor contracts were inherited which is probably why Siteserv owed Anglo so much money in the first instance.

Anyway this has nothing to do with property.

Last point on this.

I'll never accept why a guy who bribed a former FG minister(( who up until recently was still used to prop a government up)) for a license to print money(phone contract) was allowed win state contracts up until very recently.


The muddy waters between O Bribe and FG should concern us all, not least his donations to the party over the years but the control he once had over a decent portion of the Irish media and the Moriarty findings then to be winning massive contracts from Irish Water etc.

They're uncomfortable truths but running away from them makes us look like a banana republic,

FF - galway tent and developers
FG - vulture funds and the likes of O' Bribe
SF - lads in balaclavas

Ok back to property

MacronvFrugals

Would this be normal for the area folks or maybe some of that WFH cabin fever some on here predicted?

Buyers snap up rural properties in one day auction

https://www.irishtimes.com/life-and-style/homes-and-property/buyers-snap-up-rural-properties-in-one-day-auction-1.4368355?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Flife-and-style%2Fhomes-and-property%2Fbuyers-snap-up-rural-properties-in-one-day-auction-1.4368355