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Irish Property Market chat II - *read mod note post #1 before posting*

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  • Registered Users Posts: 18,504 ✭✭✭✭Bass Reeves


    I suspect they are trying to price gouge who ever own'es the the property at the back that the right of way is over. It would be interesting to know what is site value up there if one got planning on half an acre. I presume a site is up near 100K. Because therewas never planning it was never refused so you could start the process. I say thereal target is to force a decent price off the property ownerwho is on the ROW

    Slava Ukrainii



  • Registered Users Posts: 2,656 ✭✭✭C14N


    There might be. It doesn't technically say they've never applied for PP, just that it's never had it. I'd imagine it would be hard to get in a place like that anyway for building a house.



  • Registered Users Posts: 5,367 ✭✭✭JimmyVik


    How many will be available to ordinary buyers, instead of councils,reits and charities though?



  • Registered Users Posts: 18,044 ✭✭✭✭rob316


    90k units our housing peaking in 2006 of the celtic tiger years. Unfathomable to get near those numbers again



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  • Registered Users Posts: 18,504 ✭✭✭✭Bass Reeves


    However I say that is the point they are trying to get accross is that planning was never applied for there. It's easy enough to check you just log onto the Council planning map and if planning was ever applied for on that field there will be an icon on it that the will give the details.

    Its obivious that the people who have the ROW will try to buy it if possible. As strictly agriculture land it's has a top value of 15-20k/ acre. At 30-50k these people would be by themselves buying it unless someone wants it to build a house and use the large site to keep a pony.

    There is no guarantee of getting planning but if local to the area I imagine there is term and conditions under which you can apply. The usual procedure would be to make a deal subject to planning. If planning was already refused on the site for any reasons you are at nothing. It fairly obvious the only way it worth anything more than agriculture value is if someone is able to get planning on it.

    I imagine they are hoping the householders behind will bid to prevent this.

    Slava Ukrainii



  • Registered Users Posts: 3,519 ✭✭✭wassie


    All the talk is of materials cost increasing, however anecdotally talking to quite a few mid-sized to larger builders at the moment, their bigger concern is availability of decent quality labour. As I see it this can only be resolved in the medium term by importing skilled labour, but there is no where for them to be housed!



  • Registered Users Posts: 4,603 ✭✭✭Villa05


    We really need to to examine what FG mean when they say they want Ireland to be the best country to do business.

    The Chivers site debacle seems particularly galling and in my opinion needs further investigation given our history and failure to close out mistakes of the past.

    Meanwhile real business is struggling to find accomodation for workers. The economy and housing should be a symbiotic relationship, instead housing is allowed to be a parasite on the economy until they are both killed off.




  • Registered Users Posts: 29,307 ✭✭✭✭Wanderer78


    completely agree, this is an extremely dangerous situation for both society and the economy, its been allowed fester, even encouraged, for decades now, enough is enough, we have to sort this asap, or.....



  • Registered Users Posts: 4,603 ✭✭✭Villa05


    This company cited cost of living as a major contributing factor in choosing Shannon/limerick for their operations as did Northern trust over a decade earlier. Northern Trust are on course for 2k employees.


    Reasnobly priced property gives us a a significant competitive advantage. Everything should be done to achieve it as we need another string to our bow now that corporation tax is under attack.

    Imagine what Ireland could be if we said reasnobly priced housing was as important as corporation tax



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  • Registered Users Posts: 29,307 ✭✭✭✭Wanderer78


    tbh im glad we re making moves on corporation tax, as we cant keep doing this, we cant keep lumping the bulk of tax onto citizens shoulders, even though im aware we may lose financially to the current situation, i think a global move is the only way to tackle this one, but it wont be easy. i do think we urgently need to change the way we accept corporation tax though, and start utilising things such as sovereign wealth funds, which i think could be used to tackle our housing issues



  • Registered Users Posts: 2,733 ✭✭✭PommieBast


    They pretty much mean the sort of big business that is only interested in tax breaks. The Irish support for SMEs during Covid was mickey mouse compared to the UK's bounce-back loan system.

    Covid has forced a lot of people to sit down and do the sums all at the same time. The results should surprise no-one.



  • Registered Users Posts: 29,307 ✭✭✭✭Wanderer78


    sme's are always on the sh1t end of the stick, our supports throughout covid, for both sme's and their employees have been nothing but atrocious, and now we re removing those supports, this is just bloody dangerous now, as most are employed within the sme sectors. its also bloody disturbing to see many sme owners viewing these supports as competition to their businesses, no theyre not, this is nuts!



  • Registered Users Posts: 4,603 ✭✭✭Villa05


    Norway's wealth fund is worth over 1 trillion, that is 4 times Ireland's public debt. Over 50% of its value is made up of actual returns. The fund was set up in the 90s

    Norway was a poorer country than Ireland in the 50/60s.

    There are options to run a country in the best interests of all its citizens rather than powerful small interest groups.

    We are one of the wealthiest countries in the world, however much of that wealth is hoovered up by 1 sector.

    Hence the title of one of its biggest sales platform is Daft



  • Registered Users Posts: 4,603 ✭✭✭Villa05


    Land hoarding on an epic scale. City centre Land acquired in 1889 and idle ever since. Dereliction and land need to be taxed




  • Registered Users Posts: 1,173 ✭✭✭Marius34


    You can't compare Ireland wealth resource with Norway, UAE, Kuwait or Qatar. Although they all similar in it's size, but some countries got lucky with it's natural resources, Ireland didn't.



  • Registered Users Posts: 1,173 ✭✭✭Marius34


    The increase of residential construction is good new regardless, as there will be more place for people to house. If they really manage to build 27K properties next year, I guess there will be increase in sales for ordinary buyers as well.



  • Registered Users Posts: 29,307 ✭✭✭✭Wanderer78


    rampant in my neck of the woods, it ll be interesting to see if the new tax laws will reduce this from happening

    we re not fully utilizing our resources, its possible to create such a fund here to, but theres virtually little or no will to, particularly politically



  • Registered Users Posts: 4,603 ✭✭✭Villa05


    Oil/gas is not the only source of wealth. The UK had rich sources of the same and did not use the returns wisely.

    Using wealth to drive up the cost of everything is a 0 sum game

    Ireland has been for some time and continues to be 1 of the wealthiest nations in the world but has very little to show for it except a debt mountain we will be passing on to our children

    That is poor management in anyone's book



  • Registered Users Posts: 1,173 ✭✭✭Marius34


    Even UK, is not comparable to Norway public wealth. UK has 10 times less oil/gas natural resource per capita.



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  • Registered Users Posts: 1,173 ✭✭✭Marius34


    It's possible, but nothing close to the level of Norway gas/oil funds.



  • Registered Users Posts: 29,307 ✭✭✭✭Wanderer78


    we ve actually been pretty good at managing our books, particularly pre 08, again, the real debt burden is private debt, its now so bad, many younger folks simply cant get access to its creator, i.e. credit, its in fact this political and economic approach thats ultimately crippling us, i.e. a primarily credit fueled economy

    maybe, and maybe not, we could use our major wealth creator, i.e. mnc's, it could easily be done




  • Registered Users Posts: 18,504 ✭✭✭✭Bass Reeves


    While the rents seem high the return on funds is 5.8% and this is at 100%occupancy. You have to now factor in that if these apartments came for sale at the moment they would be worth another 50-60k so an investment fund allowing for a vacancy rate would leave a return of 5%. This has to cover running costs as well.

    Lazy journalism, similar to a lot of what goes on with property, investment funds and rents. We are constantly getting knee jerk reactions similar to the way the opposition creates a hue and cry over the rise in rents.

    Journalists are slow to hold opposition to account over such panic creating carry on. It similar to last March/April when the Opposition were on about a zero COVID strategy, we now see where this landed NZ and Australia both of which were Island nations with no land borders especially with one of the worst in class country dealing with COVID

    Slava Ukrainii



  • Registered Users Posts: 4,603 ✭✭✭Villa05


    That's a fancy way of saying the UK had more oil and gas than Norway

    UK is more than 10 times more populated than Norway.



  • Registered Users Posts: 1,173 ✭✭✭Marius34


    Exactly, single portion in Norway shared for 10 in UK. That makes a big difference.



  • Registered Users Posts: 1,839 ✭✭✭mcsean2163


    We should definitely create a sovereign wealth fund for all our debt? What?

    Third most indebted country per capita. Are we meant to borrow to create a sovereign wealth fund? I don't get it.



  • Registered Users Posts: 4,603 ✭✭✭Villa05


    Doesn't work that way, no country that finds oil shares it out as Proportion to the population of the country.

    UK could have done the same as Norway and invest the profits in a sovereign wealth fund and have a trillion.

    It's a gigantic sum of money even for a country with 65 million people. They chose a different approach



  • Registered Users, Subscribers Posts: 5,947 ✭✭✭hometruths


    If we're borrowing to bail out businesses for whatever reason, take a long term view and build a sovereign wealth fund with the assets. We're borrowing at sub 1%, we should be able to turn a profit here.

    Bailing out banks? Put the shares in the sovereign wealth fund.

    Bailing out developers with NAMA? Put the assets and loans in the sovereign wealth fund.

    Insurance levy? Take over the insurance business and put it in the sovereign wealth fund.

    etc etc etc. Employ investment and asset managers, the best in their field and pay them well to run the fund and turn a profit. Essentially just build a giant family office/holding company for the benefit of the country.

    I'm not going all PBP and saying start nationalising everything, far from it, if you can run a business without the assistance of the state, then great crack on, we need entrepreneurs like you. But if not, and you're a business thats about to go under due to bad management and excessive risk taking, don't expect a hand out, expect a takeover.

    Start socialising the gains as well as the losses.

    Of course people will say it's not possible, it's too complicated. That's just nonsense.



  • Registered Users Posts: 615 ✭✭✭J_1980


    There is no “lump of tax” on citizens shoulder if you exclude the top 10% earners.

    Irish PAYE related taxes and charges are amongst the lowest in the eu for 90%.



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  • Registered Users Posts: 615 ✭✭✭J_1980


    Insurance:

    unprofitable mainly because of the “duty of care” and the endless milking of the legal system by the profession and all the claimants who top up their dole cheered on by low-Iq Pearse Doherty etc.


    banks:

    most unprofitable in Europe due to unworkable mortgage market where homes cant be repossessed. You know everyone deserves a free home. Let’s tax DOB for it.


    riddle with cronyism (legal profession, public sector), socialism (highest dole, free housing) and all their cheerleaders (hundreds of charities and all their public funded largesse)

    the day the troika will be back, will be the best day in my life. This country needs to be externally sorted out for good.

    I have no sympathy for irish people who can’t afford a house.

    you always emigrate to UK, Aus, nz, usa (most capitalist, neoliberal countries in the world) and then claim how much better life is there. Once coming back everyone is pushing this country to the left. Bloody hypocrites….



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