Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

Yet me as a public servant, pays marginal tax at 62.5%, which equates to an overall tax rate of 39.7% of my gross earnings (after alot of overtime) of €92,000, YET MNC's pay an effective tax rate in Ireland of LESS THAN 1%, after their tax-haven right-offs, and as has been seen lately, do not even have to pay for the electricity supplied to their Data Centers,

Go figure!

Most employees in multinational corporations (MNCs) typically pay more taxes than public servants. However, it is true that many MNCs don't pay their fair share of taxes, just like other businesses. They can take advantage of various write-offs, which can be quite significant. For example, landlords who rent out properties can write off a significant portion of their interest payments. Additionally, many Real Estate Investment Trusts (REITs) pay no taxes by ensuring that 90% of their profits go to shareholders, many of whom are based outside Ireland. Due to double taxation laws, these shareholders don't have to pay taxes here.

Regarding your statement, it is interesting to note that as a public servant, your employer (the government) doesn't pay taxes. Instead, it is funded by taxes, including those paid by yourself, MNC employees and corporation tax (which also includes what little tax an MNC pays) etc. So, if these entities didn't contribute the percentage of tax they currently do, which adds up to a significant amount, it would impact the availability of public servant jobs.

We had 11 viewings in total for our house before going sale agreed. 4 couples were Irish the rest were international. 3 Indian couples, 1 Italian, 2 South African and 1 couple from Spain. There’s a lot of foreign nationals now living here renting and wanting to have a future so are buying houses when they fall within their price range. We went sake agreed with a lovely middle aged South African couple and their two dogs!

This is pretty much what they do in Vancouver, and it has made that market insane. It is more on the nose though, lots of super fancy cars and stores (Prada, Gucci etc) that cater to them being there.

2 blocks from my house, there is a penthouse suite for sale for around the $27 million mark.

You think a thread about buying/selling/bidding etc isnt about the property market.

You can always report any posts you feel aren't on topic.

Have you any stories from your own house hunting endeavours?

They usually need to see the policy schedule and that is all. Nothing else normally suffices. They need to know the insurance will be in place.

And people are decribing having to bid against and being outbid by chinese buyers and MNCs.

That would come under "Currenty buying", "Selling" and "Hows it going?" would it not?

I literally just checked this morning and my Loan Offer explicitly has Bank of Ireland, 40 Mespil Road... (i.e. no "mortgages") as the party offering the loan and hence interested in the insurance policy. So it appears that its not crystal clear, or at least it depends on the particular loan offer.

Desperately trying to get in before 24th, but in a chain so so much can go wrong, I won't believe it until I see it.

I understand the frustration, but how do you know their situation? They may be living here 20 years and Irish citizens, they may be rich and coming from China to invest and go home once purchased, but ultimately what does it matter and why would the govt have any need for involvement? You are free to go to other countries and buy property without govt intervention, it's annoying but unfortunately that's the situation.

I work with a guy who's recently bought in a new development in Leopardstown , Clay Farm. Houses on average €650,000 minimum. A friend of his who's Chinese and is one of the top guys in a certain Chinese telecoms company in Dublin bought 2 of these 4 beds as an investment. He doesn't even live in the estate himself. Both rented out for over €3,500 a month. First time buyers haven't a hope against this Chinese money. This is happening all over South Dublin.

I was annoyed about anyone being "international".

I commented on one specific incident.

That is fair, for what it is worth Ireland is much bigger than Vancouver but I think you misspoke there.

While I can empathize on what they are saying, if you were selling a house and a buyer came to you with a lot of money, you would take it. I do know that they tried to take steps to stop this in other countries, but generally people with a lot of money will pay any kind of foreign buyers tax and vacant home tax because they still make money on the property.

Sounds good, thanks

Not a chance of that happening since it disadvantages every homeowner looking to sell.