Mullen Park Maynooth

Nika Bolokov wrote: »

Im not sure thats the case with a housing shortage.

They are interested in the sky high rents available due to the shortage, there not interested in solving that problem and in the main are looking to lock in very high rents with long leases as they dont see supply improve anytime soon.

It's not their job to solve the problem, they will charge whatever the market rent is. But pumping more cash into the market and building more and more homes can only put downward pressure on rent in the medium term. Nothing good can come from chasing away international capital on some silly lefty populist crusade and ending up with nothing being built.

Yellow_Fern wrote: »

Has anyone confirmed whether Mullen Park was bought for private rent or for rental to the council for social housing?

Or a housing charity.

So my friends finally got their deposit back last week.

The EA told them that the only reason they are getting their money back is because a REIT is happy to buy the house instead.

I think they dodged a bullet myself.

I think they would have paid a fortune for a house that will probably go down in value while other estates go up in value.

Do they know that Mullen Park is no longer being sold to a REIT and that the next phase will be going on general sale - and most likely at 10%+ higher than your friend agreed.

The reason they are getting their deposit back is that it can be resold at €30k + higher.

I never understand people's fears of REITs buying properties. If anything it is far better than individual landlords that tend to rent and then not care how a property is looked after. REITs are primarily pension funds - if you have a private pension, the chances are part of it is in a REIT.

Too many people believe rubbish spouted by hysterical media who will create scare headlines, but will never show you how this works very well in other countries.

They should have kept an eye on the news - https://www.irishtimes.com/life-and-style/homes-and-property/maynooth-new-homes-back-for-sale-as-deal-with-uk-investor-called-off-1.4620252

I suspect prices will be circa €450k for the 4 beds.

Individual investors won't go for it as its too pricy.

People with SSAP and other types of pensions now have huge hurdles under iorpsII rules. (I'm in that category and no longer looking for something, whereas I was looking for something circa 300k)

REITS are not interested in just one or two, so the new stamp duty knocks them out of the equation.

I think they made an error and should have looked at better advice and keeping abreast of news. If I were them, I'd try cancelling the cancellation.

(if I was an ea or the developer, I'd gladly take the cancellation as its a very very easy extra 50k profit)

I can't see what the issue is as these reits operate in many countries and manage their properties extremely well. They've been here for 10+ years, mainly apartments, and I don't think there's any anti social behaviour issues in their properties. Remember parties like sf/ira pbp and whatever shower paul murphy is with this week, will scaremonger and frighten people who have little experience in buying property.

The developer is cairn homes - one of the largest developers in the country and they primarily sell to owner occupiers.

Looking at their other developments, 90%++ are owner occupiers, so there will be little difference here. they also have the large Marianella development in Maynooth and a couple of others in the town, so the chances are your friend has bought from the same developer.

People need to stop the unquestioned believing of the rubbish spouted by the leftist brigade in this country and do their own checks.

Or maybe they should start doing proper research and realize that yes, there is a problem with new housing estates of late :)

Glad you have confidence that they wont be sold to them. How much of the estate has been sold to them at this point?

How to be sure about the percentage to be sold to housing body (social)? Does the council provide this information?

Has anyone booked in the newest phase? We’ve put down booking deposit since investors pulled out :)

Anyone from the first phase moved in? How how you found it? Can’t find a residents page on Facebook yet.

Have to laugh at the political furore by sinn fein about a reit buying properties and renting them privately.

Kildare CC have now purchased an additional 20 units (on top of the units they already acquired) and these will go to people on the housing lists. Effectively over 30% of the houses will be council houses - Sinn Fein thinks its fantastic.

https://www.leinsterleader.ie/news/news/649619/controversial-mullen-park-maynooth-homes-now-to-be-sold-to-individual-buyers-not-investor.html

If you look up planning permission documents I believe it will have the sizes of each garden.

Anyone able to tell me if they have internet providers setup and ready to go (who with) when they moved in?

The website lists solar panels, I didn't notice them but I see some images on the site that have them, do all properties have solar?

We looked at the show house today for the 4 bed, the amount of sockets in the bedrooms is quite miserable, anyone fitted more? It says wired for TV/internet throughout but I didn't notice anything in the bedrooms?

A stark indication of current market trajectory

How are the people that bought into Mullen park finding it? Anything to complain about? I have a viewing this Friday and trying to collect any info I can get before i pull the trigger.

Thanks