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Iresret selling 150 apartments

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  • 15-08-2020 12:14pm
    #1
    mjshravan
    Registered Users Posts: 8 ✭


    Recently read in media that iresret are planning to sell 150 apartments. Any idea.on how to buy them? Will they be available on daft?


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    #2
    Del2005
    Registered Users Posts: 18,987 ✭✭✭✭Del2005


    It'll be a block sale to another company doubt it'll be on Daft


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    #3
    Elessar
    Registered Users Posts: 5,250 ✭✭✭Elessar


    Del2005 wrote: »
    It'll be a block sale to another company doubt it'll be on Daft

    Yeah sorry but the days of being able to buy apartments on the open market are nearly over. REITs will just block sell between themselves or to the councils, and developers will continue to block sell entire apartment blocks to the REITs for long term renting only. And I've anecdotally heard that those same REITS are bidding on second hand apartments that appear on the open market too, outbidding the average joe. There's fierce money to be made in the rental game.

    It's disgraceful but the downside is that apartments simply wouldn't get built otherwise due to their astronomical build costs here.


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    #4
    Jerry Fireball Mudflap
    Registered Users Posts: 15 ✭Jerry Fireball Mudflap


    Elessar wrote: »
    And I've anecdotally heard that those same REITS are bidding on second hand apartments that appear on the open market too, outbidding the average joe. There's fierce money to be made in the rental game.

    Do you know which REITS and where abouts they are buying up apartments Elessar? Just wondering if it would be possible to approach them directly with a view to selling them a 2nd hand apartment?


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    #5
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,317 Mod ✭✭✭✭Gumbo


    Jerry Fireball Mudflap wrote: »
    Do you know which REITS and where abouts they are buying up apartments Elessar? Just wondering if it would be possible to approach them directly with a view to selling them a 2nd hand apartment?

    I would fear that if you had to approach then, they don’t want to buy your apartment.
    Have you got it advertised on the normal platforms?

    They have people looking for new units to purchase and would be aware of new units on the usually platforms.


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    #6
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,317 Mod ✭✭✭✭Gumbo


    Elessar wrote: »
    There's fierce money to be made in the rental game.

    Especially for the large REIT’s. They probably pay less tax on a whole block than one landlord on one unit!


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    #7
    Jerry Fireball Mudflap
    Registered Users Posts: 15 ✭Jerry Fireball Mudflap


    Gumbo wrote: »
    I would fear that if you had to approach then, they don’t want to buy your apartment.
    Have you got it advertised on the normal platforms?

    They have people looking for new units to purchase and would be aware of new units on the usually platforms.

    Yeah have it up on the usual platforms Gumbo, I would imagine that you are right and that if they were interested by now they would of got in contact ...but still, I wouldn't mind chancing my arm and contacting them directly to see if they would be interested in doing a deal. Just not sure which REITs are targeting apartments in Dublin or who to contact??


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    #8
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    Jerry Fireball Mudflap wrote: »
    Yeah have it up on the usual platforms Gumbo, I would imagine that you are right and that if they were interested by now they would of got in contact ...but still, I wouldn't mind chancing my arm and contacting them directly to see if they would be interested in doing a deal. Just not sure which REITs are targeting apartments in Dublin or who to contact??

    I know Gannon is selling off The Casino in Malahide bit by bit and so far no REIT has approached him successfully


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