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

I'm aware of several former council houses that are full time air bnb's on the West Coast in a popular town. That towns population fell below 1000 recently, loosing its status as a town, resulting in the withdrawl of many public and commercial services. Hotels are idle and falling into disrepair

Tourism is hampered by the lack of housing for predominantly low paid tourism services employees

Go back 1 decade and you will remember that the west coast was ghost estate central. What happened all these homes. Did we allocate so many to tourism that we priced out the people that live there.

With WFH embedded in many workplaces, does it not present the opportunity to repopulate these areas with workers on sustainable incomes that breathe life back into these towns 52 weeks of the year rather than 12

Don't be under any illusion that airbnb's and there owners are the saviour of these areas

How did towns like Tramore survive before Airbnb started in Ireland? It has only been popular for about 10 years here.

Don't you worry the state is funding new office buildings to ensure we avert a shortage

No mention that this site dominated by Georgian architecture was allowed to fall into vacancy and dereliction

Limerick City Council record in development projects should provide confidence that this project will be a success

I see your point but again, that issue is rooted in govt house provision policy.

If the govt built enough social houses then tourism workers can avail of those properties and are therefore able to provide services into the town.

if the town has 100 council houses, govt sells them all off at a discount to the tenant, its then the tenants perogative to rent it out/AirBnB/Sell etc as it is now their property. Bought and paid for.

The break in the chain is that the govt needs to build 100 more social homes to replace the stock it removed, or, if it cant afford to build 100 new social homes, dont sell the stock in the first place!

If the hotel is run down, is that not because either a) there isnt sufficient tourist demand or b) the price point for the hotel is too high vs AirBnB and other accom.

Thats just market economics.

Look at Dublin. AirBnB everywhere yet there is a hotel opening in the city every 2 or 3 months and has been for the past 3 or 4 years. new 150 bed premier inn opened last week in town as an example.

I agree that WFH can help breathe new life into rural areas, but those fully remote jobs seem to be quite rare, meaning you still generally have to be within bolting distance of the office if you are in 2 or 3 days a week.

Maybe its chicken and egg....if you are fully remote you can move down the country. But the town you are looking at is desolated and unnatractive. So why move from Dublin where all the infrastructure and facilities are.

Its a tough one to get right.

If we had sufficient hotels in the city then we wouldn’t need alternatives. Hotels don’t have cleaning fees or rules for stripping beds before you leave.

I often feel the anti-hotel astroturfing online is paid for / facilitated by hotel alternatives.

Hotel alternatives have very large and well funded lobbying teams.

Agree. A lovely place I rent in Kerry, the owner refuses to use the usual platforms. So yes, she has clients she knows of and they text her what weeks they want to rent her let.

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Are you having a laugh?

I have an Airbnb, stripping beds isn’t one of the rules, and of course Hotels include the cost of cleaning in their rates, they just don’t tell you.

Airbnbs are absolutely fantastic when you travel, especially as a family or group of friends.

exactly. It isnt worth the hassle and the risk of a non paying tenant thar could be in the property for literally years.

You are also leaving yourself wide open to a long term eviction ban, which some tenants will take advantage of as the housing crisis worsens.

And during that period you just have to hope the tenant keeps paying until the govt finally lets you off the roller coaster and allows you to close the contract and sell.

New house build starts are down 13% in jan and the slow down likley to continue, coupled with more interest rate rises on the way. A futher reduction in property being delivered is only going to tighten the screw on eviction bans.

Sell while you can is the sane bet.

I know not Ireland but Australia where I believe they have a shortage of housing or hard to rent?

I just did a search for Tramore for Saturday 1-2 of July (peak season you might say). 2 places to let and both are private rooms. Probably fair to say Airbnb is not that active in Tramore. I also checked for the Saturday of the 5-6th of August and there are 3 places (2 of which are the ones here).

RTE interviewed a small LL who has exited the sector. They asked them why. No sob story just the facts. 43k have left in the last 6-7 years. Non institutional LL provide 94%, of the accomdation that is rented in Ireland. The EB was bought in because too many are leaving people are not whining they just want to exit the sector. Them being English has nothing whatsoever to think it funny it just show you are ignorant of the reality on the ground.

I have spend 30-40hours trying to get the annual renewal sorted on two houses over the last few months with the RTB. I now find they have double debited me today for one of the houses. They are a disaster. Larger LL have started to get there dealing do e by an auctioneer as they do d it too risky to fill out forms or filings with them.

Talking to a lad recently who is renting and he is trying to sort an issue with a LL and he finds it a disaster. His comment was the only people the RTB works for is the people breaking the rules whether it's a tenant or a LL.

Really good article by Connor Skehan in yesterday's SI

He points out the issue with regulation encouraging LL to leave the business

Airbnb is ridiculously active in Tramore, couple of things the reason you got only 2 because everything else is booked up, also people mainly let out for a week or 2 only especially if they’re holiday homes because of cost, ie travelling down depending on where you’re coming from in the country, wouldnt be worth your while if you pay 60 quid in petrol, down and then the cost of a cleaner etc, unless you do it yourself, so if you charge 160 a night, travel down after tax you’d actually owe money

Not an 80s baby, clearly :D. Ah the summers of ice-cream, slightly less than freezing seas and fairground rides of questionably safety!