Irish Property Market 2020 Part 2

fliball123

Cyrus wrote: »

there might be places grimmer than this but not many

https://www.myhome.ie/residential/brochure/114-lower-rathmines-road-rathmines-dublin-6/4239105

If the ROI is correct on that, it will sell

nerrad01

nerrad01 wrote: »

10 illegal bedsits in one property! can only imagine how much money that landlord has made over the years

.......... "The current rental income per annum is circa €120,000"

A lad I know is renting a room near there, it's a different setup, normal houseshare ....... he has to move out shortly as the company renting it from the owner are giving it back at the end of the lease as they can no longer rent out all of the room. Two of the four are empty. Presumably they could rent them out if they dropped the price but then their profit margin would be sliced.

Cyrus

PropQueries wrote: »

The difference with WFH this time is that unlike previous initiatives to get people working from home, now most people have fast broadband and every home in the country will be connected up to super fast broadband within 5 years. Another difference is that it has now been tried and tested on a massive scale and most service based companies and the Government realise it actually can and does work.

every one i know at a senior level across several different industries has expressed a desire to get their workforce back to the office, and in a lot of cases their staff have expressed that same desire.

there will be increased flexibility in the future for sure, but a central office location that people are obliged to attend at least 3 days a week will be a feature.

Cyrus

PropQueries wrote: »

Apologies. c. three hour drive from the middle of Kerry to Dublin off peak. A two hour drive from Galway to Dublin and a two hour drive from Limerick to Dublin. Not much more from Cork.

That basically means most rural Ireland students attending a university in Dublin would be at most a 2 hour drive away. If they're in one or two days a week, I think many will make that 'commuting sacrifice' to save c. €200 a week on rent excl. ESB bills, heating, food, cleaning, socialising costs, luas/bus/dart card etc. etc. etc.

Just to add. Do you not think the parents will have a say in their choice on whether to commute or not? If the parents can save at least €5,000 a year, they will most likely tell them to take the family car for the day and they'll rent an apartment for them in the closet town instead of forking out c. €12,000 per year.

"Cost of going to college in Dublin? €12,495 a year with rent. DIT guide says staying at home is more than €5,000 cheaper than living in rented housing"

Irish Times article here: https://www.irishtimes.com/news/education/cost-of-going-to-college-in-dublin-12-495-a-year-with-rent-1.3139428?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fnews%2Feducation%2Fcost-of-going-to-college-in-dublin-12-495-a-year-with-rent-1.3139428

I think the parents, especially if they have two or three heading off to college will most likely make the decision for them.

i was going to reply to this but i see others have already pointed out how ridiculous the premise is, its posts like this that remind me why i unfollowed the thread the last few weeks :pac:

Timing belt

Extract from an ECB speech today on house prices and the impact of the recent monetary policy on house prices:

While macroprudential policies are the first line of defence against the build-up of financial vulnerabilities, it is widely acknowledged that such policies offer incomplete protection. Therefore, monetary policy cannot ignore financial stability risks.[13]
House prices are one example of possible side effects.
They have increased considerably in recent years. There are visible signs of house price overvaluation for the euro area as a whole, especially in metropolitan areas.[14] And we have heard and understood in our “ECB Listens” events that house price inflation is a major concern for people.
Rising house prices are, of course, the result of a multitude of factors, such as supply and demand imbalances and demographics. Empirical evidence suggests that monetary policy, too, has a significant and lasting impact on house prices in the euro area.[15]
To some extent, the effect is intentional: a low interest rate environment makes housing investment relatively attractive compared with alternative asset classes, thereby reinforcing portfolio rebalancing.[16]
But we need to be mindful that it may ultimately cause risks to financial stability and make it harder for people to afford housing, thereby risking undermining public support for our policies.

Source: https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201104_2~9afd2bf0ad.en.html

PropQueries

Cyrus wrote: »

every one i know at a senior level across several different industries has expressed a desire to get their workforce back to the office, and in a lot of cases their staff have expressed that same desire.

there will be increased flexibility in the future for sure, but a central office location that people are obliged to attend at least 3 days a week will be a feature.

Well, the commercial director for Microsoft Ireland would disagree. Today, she said: “People talk about this Covid-related remote working being something exceptional and that we’ll soon return to normal. But I don’t think that we’re going back to what we used to regard as being normal.”

It was based on a Microsoft Ireland research which reported that almost half of the country’s office workers may never return to the office full time and predicts lower corporate spending on offices in general.

The link to today's Irish Independent article on the report is here: https://www.independent.ie/business/technology/microsoft-research-predicts-a-permanent-irish-office-exodus-39704093.html

fliball123

PropQueries wrote: »

Well, the commercial director for Microsoft Ireland would disagree. Today, she said: “People talk about this Covid-related remote working being something exceptional and that we’ll soon return to normal. But I don’t think that we’re going back to what we used to regard as being normal.”

It was based on a Microsoft Ireland research which reported that almost half of the country’s office workers may never return to the office full time and predicts lower corporate spending on offices in general.

The link to today's Irish Independent article on the report is here: https://www.independent.ie/business/technology/microsoft-research-predicts-a-permanent-irish-office-exodus-39704093.html

Well working in an office 3 days out of the 5 is not normal

Cyrus

PropQueries wrote: »

Well, the commercial director for Microsoft Ireland would disagree. Today, she said: “People talk about this Covid-related remote working being something exceptional and that we’ll soon return to normal. But I don’t think that we’re going back to what we used to regard as being normal.”

It was based on a Microsoft Ireland research which reported that almost half of the country’s office workers may never return to the office full time and predicts lower corporate spending on offices in general.

The link to today's Irish Independent article on the report is here: https://www.independent.ie/business/technology/microsoft-research-predicts-a-permanent-irish-office-exodus-39704093.html

if you were being genuine you would know nothing she said in that article contradicts anything i said.

also, and more telling,

the tech giant says it has no plans to downsize its own newly-built physical campus in Sandyford.

PropQueries

Cyrus wrote: »

i was going to reply to this but i see others have already pointed out how ridiculous the premise is, its posts like this that remind me why i unfollowed the thread the last few weeks :pac:

Maybe university has changed since I was there, but I assume many students still travel far to save as little as €5 on the price of something. If they can save what would be the equivalent of a deposit on a house over a 4 year degree, would you not think they (and their parents) would at least consider this option since it is now and has been proven to be feasible?

Cyrus

PropQueries wrote: »

Maybe university has changed since I was there, but I assume many students still travel far to save as little as €5 on the price of something. If they can save what would be the equivalent of a deposit on a house over a 4 year degree, would you not think they (and their parents) would at least consider this option since it is now and has been proven to be feasible?

How has it proven to be feasible? what because students have had a crappy study from home experience for most of this year its now feasible?

university is about a myriad of things, growing up as an adult, making lifelong friends, getting an education, working with others on projects, experiences outside of their core course be they social or wider learning,

i know i wouldnt want my kids to miss out on any of that, they are the best years of your life.

but no let them do it from home and then go into a job where they wfh as well, that will do wonders for society.

why even bother with formal schooling at all? has home schooling been proven feasible aswell?

PropQueries

Cyrus wrote: »

How has it proven to be feasible? what because students have had a crappy study from home experience for most of this year its now feasible?

university is about a myriad of things, growing up as an adult, making lifelong friends, getting an education, working with others on projects, experiences outside of their core course be they social or wider learning,

i know i wouldnt want my kids to miss out on any of that, they are the best years of your life.

but no let them do it from home and then go into a job where they wfh as well, that will do wonders for society.

why even bother with formal schooling at all? has home schooling been proven feasible aswell?

The vast majority wouldn't miss out on anything. Instead of losing touch with their childhood friends, those relationships would be cemented for the long-term.

Most people who leave college work in different companies, rent or buy in different parts of Dublin and most lose touch. Most people I know still have closer friendships with more of their childhood friends than their college friends.

If they're in college one or two days a week they can still make those valuable 'college connections' which is what I believe you're really on about and those 'college connections' are becoming less valuable by the year due to legislation on hiring protocols etc.

Cyrus

PropQueries wrote: »

The vast majority wouldn't miss out on anything.

like i said, lets keep them at home and then they can work from home aswell

sounds amazing,

we can have a generation of adult children.

obviously your personal anecdotal experience, which i doubt is genuine, trumps anyone elses.

PropQueries

Cyrus wrote: »

like i said, lets keep them at home and then they can work from home aswell

sounds amazing,

we can have a generation of adult children.

Well it would solve the one problem that has been 'puzzling' policy makers for the past 30 years. How do we replicate the family and wider community support network that nearly all of us older ones here enjoyed in our early working years and the newer ones now have little access to.

If it goes back to that, I have no problem at all

Cyrus

PropQueries wrote: »

Well it would solve the one problem that has been 'puzzling' policy makers for the past 30 years. How do we replicate the family and wider community support network that nearly all of us older ones here enjoyed in our early working years and the newer ones now have little access to.

If it goes back to that, I have no problem at all

what exactly are you referring to? if its been puzzling policy makers for years id expect to have some bulls notion of what it is.

PropQueries

Cyrus wrote: »

what exactly are you referring to? if its been puzzling policy makers for years id expect to have some bulls notion of what it is.

Ok. You're from Mullingar. You go to Dublin to attend University. You make close friends in university. You get a job. You get married. You're forced to buy a house in e.g. Lucan (not because you like the area but because it's all you can afford). You have two kids maximum because it's all you can afford. Your close college friends do the same but live in Swords, Stillorgan or worse, some commuting town in Kildare. You only get to meet up a maximum of once a week given the distances between ye. Result: Depression.

Or. You stay and do your degree in Mullingar. Drive up to university one day a week in Dublin. Get a job in Dublin but work remote in Mullingar. Get married. Buy a house locally. Have 4 kids because you can afford that now. All your childhood friends live within a 10 walk of you so ye can meet up every day if ye want. Result: Happier, more productive people.

fliball123

PropQueries wrote: »

Ok. You're from Mullingar. You go to Dublin to attend University. You make close friends in university. You get a job. You get married. You're forced to buy a house in e.g. Lucan (not because you like the area but because it's all you can afford). You have two kids maximum because it's all you can afford. Your close college friends do the same but live in Swords, Stillorgan or worse, some commuting town in Kildare. You only get to meet up a maximum of once a week given the distances between ye. Result: Depression.

Or. You stay and do your degree in Mullingar. Drive up to university one day a week in Dublin. Get a job in Dublin but work remote in Mullingar. Get married. Buy a house locally. Have 4 kids because you can afford that now. All your childhood friends live within a 10 walk of you so ye can meet up every day if ye want. Result: Happier, more productive people.

lol your mad so in 20/30 years time everyone having 4 kids in Mullingar will mean Mullingar property will be up past Dublin levels. i don't think you actually stop and think before you post. Honestly you have gut instinct and hear say and not much more ..Tip for you..stop listening to your gut its been wrong over and over again on here.

Timing belt

PropQueries wrote: »

Ok. You're from Mullingar. You go to Dublin to attend University. You make close friends in university. You get a job. You get married. You're forced to buy a house in e.g. Lucan (not because you like the area but because it's all you can afford). You have two kids maximum because it's all you can afford. Your close college friends do the same but live in Swords, Stillorgan or worse, some commuting town in Kildare. You only get to meet up a maximum of once a week given the distances between ye. Result: Depression.

Or. You stay and do your degree in Mullingar. Drive up to university one day a week in Dublin. Get a job in Dublin but work remote in Mullingar. Get married. Buy a house locally. Have 4 kids because you can afford that now. All your childhood friends live within a 10 walk of you so ye can meet up every day if ye want. Result: Happier, more productive people.

That’s funny.... you should run get a job as spin doctor for the government you spout so much ****.... can we get back to property prices now...please

Cyrus

PropQueries wrote: »

Ok. You're from Mullingar. You go to Dublin to attend University. You make close friends in university. You get a job. You get married. You're forced to buy a house in e.g. Lucan (not because you like the area but because it's all you can afford). You have two kids maximum because it's all you can afford. Your close college friends do the same but live in Swords, Stillorgan or worse, some commuting town in Kildare. You only get to meet up a maximum of once a week given the distances between ye. Result: Depression.

Or. You stay and do your degree in Mullingar. Drive up to university one day a week in Dublin. Get a job in Dublin but work remote in Mullingar. Get married. Buy a house locally. Have 4 kids because you can afford that now. All your childhood friends live within a 10 walk of you so ye can meet up every day if ye want. Result: Happier, more productive people.

so living in mullingar with 4 kids is happiness? good to know.

PropQueries

fliball123 wrote: »

lol your mad so in 20/30 years time everyone having 4 kids in Mullingar will mean Mullingar property will be up past Dublin levels. i don't think you actually stop and think before you post. Honestly you have gut instinct and hear say and not much more ..Tip for you..stop listening to your gut its been wrong over and over again on here.

Not at all. They would be spread out right across the country in whatever town they were brought up in.

Well, it will be great until about 2026 when the big companies using WFH decide that the workers in eastern europe are cheaper and the tax rate in Ireland is now meaningless as company taxes are now based on where the sales take place and not on where the company's headquarters are for taxation reasons.

It will be a nice 5/6 years or so though

fliball123

PropQueries wrote: »

Not at all. They would be spread out right across the country in whatever town they were brought up in.

Well, it will be great until about 2026 when the big companies using WFH decide that the workers in eastern europe are cheaper and the tax rate in Ireland is now meaningless as company taxes are now based on where the sales take place and not on where the company's headquarters are for taxation reasons.

It will be a nice 5/6 years or so though

haha oh my god. Can I have a small bit of what your smoking and that crystal ball your using wouldn't mind using it for the lotto this week

PropQueries

Cyrus wrote: »

so living in mullingar with 4 kids is happiness? good to know.

Of course Mullingar is not happiness if you're not from there. For me, it would be hell. But, if I was actually brought up there. Yes, there's a good chance I would be happy with the situation I laid out.

Timing belt

PropQueries wrote: »

Of course Mullingar is not happiness if you're not from there. For me, it would be hell. But, if I was actually brought up there. Yes, there's a good chance I would be happy with the situation I laid out.

You forgot your prediction of the fund’s releasing their 280bn of hidden properties onto the market and crashing the residential property market. Will that happen at the same time?

fliball123

Timing belt wrote: »

You forgot your prediction of the fund’s releasing their 280bn of hidden properties onto the market and crashing the residential property market. Will that happen at the same time?

Not to mention WW3 having a slight impact on the price of property or was it a virus worse than Corona. I cant keep up with this guy/girl

Timing belt

fliball123 wrote: »

Not to mention WW3 having a slight impact on the price of property or was it a virus worse than Corona. I cant keep up with this guy/girl

Lol

fliball123

Timing belt wrote: »

Lol

Honestly Props you should change your handle to Notrodamous

PropQueries

Timing belt wrote: »

You forgot your prediction of the fund’s releasing their 280bn of hidden properties onto the market and crashing the residential property market. Will that happen at the same time?

My god! You're right, they've haven't gone away. And, there's over 90,000 of them located throughout rural Ireland!

Mic 1972

PropQueries wrote: »

Why is everyone acting like there’s been no falls in the property market..

Because there is no fall, plain and simple
Despite rents falling, recession coming and covid, house prices are actually going up.
Plenty of reports available

I can't imagine anything worse than living in my hometown or anywhere near it!
I have also managed to stay good friends with my four good friends from home, even though we all live in different parts of the country.

fliball123

bubblypop wrote: »

I can't imagine anything worse than living in my hometown or anywhere near it!
I have also managed to stay good friends with my four good friends from home, even though we all live in different parts of the country.

I wouldn't bother Props thinks that the only thing that can be done long distance is working and college but keeping friends sorry life long friends you have to be living right beside them in your home town. Who knew?

TheSheriff

PropQueries wrote: »

Ok. You're from Mullingar. You go to Dublin to attend University. You make close friends in university. You get a job. You get married. You're forced to buy a house in e.g. Lucan (not because you like the area but because it's all you can afford). You have two kids maximum because it's all you can afford. Your close college friends do the same but live in Swords, Stillorgan or worse, some commuting town in Kildare. You only get to meet up a maximum of once a week given the distances between ye. Result: Depression.

Or. You stay and do your degree in Mullingar. Drive up to university one day a week in Dublin. Get a job in Dublin but work remote in Mullingar. Get married. Buy a house locally. Have 4 kids because you can afford that now. All your childhood friends live within a 10 walk of you so ye can meet up every day if ye want. Result: Happier, more productive people.

I think PropQueries this post reflects how out of touch you are with the modern property buyer, and it obviously taints your arguments, and goes towards explaining alot of your previous posts to be honest i.e your idea that people are only in Dublin because they are forced too.

This is really not the case for many, sure for some it is, but for alot Dublin is somewhere people choose to live, rather than being forced too.

You remind me of one of my friends from back home in rural ireland, every Christmas I see him for a pint in the local and it's always the same Q, 'when will you be leaving Dublin and moving home", to which the response is always the same, "never". There is this assumption that I am only in Dublin because of my job, which I'm not, I actually like living here.

We could both work from home for the foreseeable I say, we have a budget to purchase a house of anywhere up to 550k, maybe more as to be honest we've done quite well from all this lockdown, and guess what, we actually want to live in Dublin and not buy a mansion in Mullingar.

Your ideas, which inform your position on the property market, are fundamentally wrong.

You've been equally called out on the propertypin for this by many posters, do you ever think that maybe your opinion is not the correct one ?