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

The listed building system does not work if its a detterent. The only way to save these structures is to use common sense and modern materials. Would modern windows on a Georgian home spell disaster or is it better to let them fall into dereliction

I'm aware of one owner who's contemplating converting from commercial to residential as one would get far more in income. can't be the only one

Some operate as free museums to satisfy the die hards

You have claimed to work in the health sector, as do I, in fact all my family do. We know a considerable number of health sector staff who have gone to Australia, Doctors, nurses etc, not one, not one of them said it was due to housing. It is career opportunities, working conditions, and yes, they just want to go there and live in the sunshine.

As I have said, housing may be a consideration, but people traveled abroad to work for a variety of reasons, it’s rarely just one.

But I suppose it suits your narrative, so you no doubt are not for turning.

By the way, I am all for young people travelling abroad to experience other working environments, I did it myself, as have my kids, better to go abroad then to stay here and whinge about how unfair life is.

I’m 20 years ahead of you, and a considerable number of my class also went to the US/UK/Canada/Australia, some came back, some didn’t, twas ever thus. My wife is an A&E Dr, and quite a few staff have left, and I’ve been to quite a few going away parties, but none of them were because of housing. They all went because they want something different, and actually want to do it now before they are tied down to a mortgage.

You can’t just make sweeping statements that housing is the main reason health staff are leaving, for some it may be, but they have a qualification which allows them to work virtually anywhere in the world with guaranteed employment, so they are taking an opportunity. There are major issues in the HSE, just as there are in the Uk (daughter a Dr there), and other countries, few countries are perfect. If a hospital Dr/nurse can work less hours, have better work supports, a better work life balance, better opportunities for advancement, and live in the sunshine, buying a house is not the most important consideration for a twenty something. Now I can’t speak for other professions or sectors, but you can cut the bolony that buying a house is the most important consideration for healthcare workers going to Oz, it just isn’t.

Apply now. Get all your ducks in a row. Clear any potential obstacles.

Once you have approval on your current salary it’s a relatively easy process to increase the loan amount for a higher salary.

FAH did it 2 years ago

Starting salary for a nurse in Dublin in 2024 is 33k a year, or about 2300e a month net. For a job that requires years of education, and very difficult (and for the functioning of the Irish state/its people essential) work. And obviously isn't WFH suitable. Similar story for teachers and gardai. Can anyone here imagine trying to rent in Dublin on that wage these days?

The nurses union has been screaming out the housing is the #1 issue for its members in Dublin for ages now, but our government has been ignoring them. Principals in schools in Dublin are all saying the same thing about trying to find young staff, they can't recruit anyone who'd need to move to Dublin because the starting salary just won't cover rent.

You'd think a very obvious first step of say increasing starting salary by 5k across the board (which wouldn't impact higher earning/more senior staff, just the junior ones starting off - so would cost the state very little comparatively) would/should be done instantly. But no sign of that yet for some reason...

These houses were for sale to individual buyers and couldn’t sell them. Then sold at a discount. At 550k these are basically construction costs + vat + tiny bit land value and no more than 50k profit.

for most double income earners they were fairly affordable (mean salary *2). What are irish house buyers actually waiting for? Getting a blackrock semiD for 350k????? How can anyone be sich a deluded rentpig and not buy at these prices.

It's very affordable to the people above the mean salary, and there's plenty of them.

My mistake I assumed FTBs were allowed 4.5x salary, it is only 4x. The actual salary to buy those houses with 10% deposit is 123k gross.

As per BPFI, average mortgage value for FTBs in Ireland is 294k. For SSBs it's 330k. Obviously Dublin area should be higher but BPFI don't seem to publish this data in monthly reports anymore. At those figures or even 100k above, it still leaves a big gap of affordability to those homes at 550

If as @J_1980 claims, the houses were on market and couldn't shift, then surely that suggests the houses were unaffordable to majority of prospective buyers in Dublin? Can't have it both ways, if it was properly affordable it would have sold out.

The houses were in D17, nobody with Blackrock equity is going to sell and move there!

Somebody not happy with the bad PR and threw them and the journal a SLAAP I bet.

Here is occu advertising rentals in the newly purchased estate.

and here is the developers site

Its been deleted from a few news sources now. Very dodgy looking, I wonder what the reason for that is?

It's a very tidy profit margin, and the firm will still own the asset at the end of the day. It is, however, the type of investment that is socially deleterious.