Irish Property Market 2020 Part 2

Cyrus

coldfire1x wrote: »

Another company letting employees work from home permanently:

https://www.theverge.com/2020/10/9/21508964/microsoft-remote-work-from-home-covid-19-coronavirus

Some

PropQueries

Hubertj wrote: »

Where are you getting that information from? I don’t see it in the article.

“Employees will also be allowed to relocate domestically with approval, or even seek to move internationally if remote working is viable for their particular role”

PropQueries

Cyrus wrote: »

Some

Apologies. Thought you were reply to mine

hometruths

coldfire1x wrote: »

Another company letting employees work from home permanently:

https://www.theverge.com/2020/10/9/21508964/microsoft-remote-work-from-home-covid-19-coronavirus

You’d think it was a trend the way we keep hearing these announcements, rather than a flash in the pan.

PropQueries

Cyrus wrote: »

Some

“While most employees will be able to easily take advantage of the less than 50 percent working from home option”

I wouldn’t define 50% as ‘some’.

I would also consider the majority of Microsoft roles based in Ireland as potential WFH. I also wouldn’t be investing in rental accommodation in the Sandyford area. But each to their own.

Hubertj

PropQueries wrote: »

“While most employees will be able to easily take advantage of the less than 50 percent working from home option”

I wouldn’t define 50% as ‘some’.

I would also consider the majority of Microsoft roles based in Ireland as potential WFH. I also wouldn’t be investing in rental accommodation in the Sandyford area. But each to their own.

Definitely not the majority but I wouldn’t consider purchasing or living in sandyford anyway.

Cyrus

PropQueries wrote: »

“Employees will also be allowed to relocate domestically with approval, or even seek to move internationally if remote working is viable for their particular role”

While Microsoft employees will be allowed to move across country for remote work, compensation and benefits will change and vary depending on the company’s own geopay scale.

As I said previously working from home permanently will cost people if they relocate to cheaper places .

Cyrus

PropQueries wrote: »

“While most employees will be able to easily take advantage of the less than 50 percent working from home option”

I wouldn’t define 50% as ‘some’.

I would also consider the majority of Microsoft roles based in Ireland as potential WFH. I also wouldn’t be investing in rental accommodation in the Sandyford area. But each to their own.

You misunderstood what the 50 percent refers to

hometruths

Cyrus wrote: »

You misunderstood what the 50 percent refers to

Most sounds like the majority though.

Cyrus

schmittel wrote: »

Most sounds like the majority though.

So most will be required in the office at least 3 days a week , we agree that’s what that sounds like .

neutral guy

HotDudeLife wrote: »

but this economic depression will be something else.

This will be Mother of all recessions ! Which will start october/november this year.

Cyrus

neutral guy wrote: »

This will be Mother of all recessions ! Which will start october/november this year.

Cool can’t wait it’s exciting isn’t it .

hometruths

Cyrus wrote: »

So most will be required in the office at least 3 days a week , we agree that’s what that sounds like .

Yes we agree that’s what it sounds like.

Do we agree it also sounds like yet another chunk of highly paid workers who some are counting on propping up prices, now have the opportunity to look outside the M50 if they wish?

And it sounds like that is not bullish for prices.

neutral guy

Cyrus wrote: »

Cool can’t wait it’s exciting isn’t it .

It will be exciting if :
You will have enough cash to buy house for 30 per cent of it price
If there will be queue of banks which will want give you a mortgage
You will have bulletproof job with no chance to lose it.
Then 2021 is your Year boy !

Hubertj

schmittel wrote: »

Yes we agree that’s what it sounds like.

Do we agree it also sounds like yet another chunk of highly paid workers who some are counting on propping up prices, now have the opportunity to look outside the M50 if they wish?

And it sounds like that is not bullish for prices.

How many will want to leave Dublin though? House/rent prices will fall and as you say they are highly paid so their purchasing power will increase.
But it does provide flexibility.

hometruths

Hubertj wrote: »

How many will want to leave Dublin though? House/rent prices will fall and as you say they are highly paid so their purchasing power will increase.
But it does provide flexibility.

They will all leave. Dublin will be a deserted backwater.

Ross OCarroll Kelly will be elected as independent TD for Dublin South pleading with the Roscommon elite, “won’t someone think of the dubs”.

Hubertj

schmittel wrote: »

They will all leave. Dublin will be a deserted backwater.

Ross OCarroll Kelly will be elected as independent TD for Dublin South pleading with the Roscommon elite, “won’t someone think of the dubs”.

Prices will sky rocket outside Dublin. Get that for sale sign up! My mum was from Roscommon, definitely no elite down there!

neutral guy

The whole idea of Google/Microsoft is get people maximally involved into creation process at work/after work ! For that reason Google for example try keep people together at them places creating comfortable atmosphere like lounge/swimming pools/etc.The idea is improve creativity to increase company profit.Could you imagine number of work mates brain storming them ideas beside Google swimming pool in Google building/campus ? Due with WFH this concept will be weaker and will not bring much profit for the company.For those reasons I think WFH will be temporary.

PropQueries

Hubertj wrote: »

How many will want to leave Dublin though? House/rent prices will fall and as you say they are highly paid so their purchasing power will increase.
But it does provide flexibility.

You’re right on the flexibility issue. Advertising slogans like “last few remaining” won’t have the same psychological impact on potential home buyers as in the past.

They may not want to live outside Dublin, but they may definitely now use this potential option as a bargaining tool when negotiating on price.

Cyrus

neutral guy wrote: »

It will be exciting if :
You will have enough cash to buy house for 30 per cent of it price
If there will be queue of banks which will want give you a mortgage
You will have bulletproof job with no chance to lose it.
Then 2021 is your Year boy !

70 percent price drops

It’s gonna be epic

Cyrus

schmittel wrote: »

Yes we agree that’s what it sounds like.

Do we agree it also sounds like yet another chunk of highly paid workers who some are counting on propping up prices, now have the opportunity to look outside the M50 if they wish?

And it sounds like that is not bullish for prices.

Don’t know about you but if I have to be at my desk in sandyford 3 days a week I’m not moving to Roscommon or sneem or whatever other rural idyll people are suggesting .

neutral guy

Cyrus wrote: »

It’s gonna be epic

But only for those who will have cash ! If you dont have it then you will be only poorer and your life harder.

BEdS_83

neutral guy wrote: »

But only for those who will have cash ! If you dont have it then you will be only poorer and your life harder.

sounds like Monday to me lol

Timing belt

Cyrus wrote: »

While Microsoft employees will be allowed to move across country for remote work, compensation and benefits will change and vary depending on the company’s own geopay scale.

As I said previously working from home permanently will cost people if they relocate to cheaper places .

Interesting in the mean time Apple are making people work in the office when they could be working from home

https://www.corkbeo.ie/news/local-news/apple-staff-offices-cork-city-19075916

cnocbui

Timing belt wrote: »

Interesting in the mean time Apple are making people work in the office when they could be working from home

https://www.corkbeo.ie/news/local-news/apple-staff-offices-cork-city-19075916

Apple is a teflon coated company. It can do no wrong, how dare you. /s

PropQueries

Here’s how it relates to Ireland:

“The tech giant, which employs around 2,000 people at its Sandyford campus, sent an internal memo to staff this week outlining its new policy.

In it, the company says that most staff will be able to work from home up to half of the week. Some staff will be allowed work from home all of the time, if they get approval from managers”

Link to Irish Independent here: https://m.independent.ie/incoming/microsoft-ireland-to-allow-staff-work-from-home-permanently-39605856.html

Cyrus

neutral guy wrote: »

But only for those who will have cash ! If you dont have it then you will be only poorer and your life harder.

I’ve loads of cash this sounds amazing

Cyrus

PropQueries wrote: »

Here’s how it relates to Ireland:

“The tech giant, which employs around 2,000 people at its Sandyford campus, sent an internal memo to staff this week outlining its new policy.

In it, the company says that most staff will be able to work from home up to half of the week. Some staff will be allowed work from home all of the time, if they get approval from managers”

Link to Irish Independent here: https://m.independent.ie/incoming/microsoft-ireland-to-allow-staff-work-from-home-permanently-39605856.html

So the majority of staff will be in the office more than 50 percent of the time .

neutral guy

Cyrus wrote: »

So the majority of staff will be in the office more than 50 percent of the time .

That is whole idea squize people as lemons !

Thespoofer

neutral guy wrote: »

It will be exciting if :
You will have enough cash to buy house for 30 per cent of it price
If there will be queue of banks which will want give you a mortgage
You will have bulletproof job with no chance to lose it.
Then 2021 is your Year boy !

Without getting into a huge debate as I look at things kinda simply, the fact that peoples savings/deposits held in banks are slowly dissolving away, wouldn't that encourage them to use it and in turn encourage a portion to invest in property and in turn keep prices up ?