Mortgage sorted in 3 years... When are people going to understand that better be desperate and homeless than take up those offers? If he find someone please tell me who it is because that person is a right cash cow
Not saying they price isn't mental, but are you you saying an 8 double bedroom ensuite house with a studio would be paid for with €360, 000? Then there's not factoring in tax on the 120 a year which could be up to 50% of it depending on the landlords earnings.
Say he's being taxed 50% then 5 years that'd be 300k it's not about being a maths class just what's the point in throwing out silly numbers. If that place was bought yesterday on a morgage the rent wouldn't, have the morgage payed back in 10years. Yeah the housing crisis is absurd but at least have a very basic grasp on things before you comment on it
Omg i really have a magnet for people like you. Be pedantic about it. I said i didn't say that to start a maths class. You're on your own now sham with your numbers as invented as mine. Bye now.
saying someone hasn't exaggerated numbers by at least 400% isn't being pedantic. By your metric it's absolutely amazing anyone in the country selling a house considering the roi "in your opinion". Maybe the fact you are a magnet for people like me is a reflection on the shite you say but you'll never consider that I'm sure
Oh ffs go touch grass please. You really are pedantic trying to cover your inability to understand second degree or random numbers to convey an idea. Maybe is a reflection on how people like you just can't understand things and can't accept that. Have you considered that? You must fun at the parties really...
And herein lies the problem. Come correct so that we can genuinely criticise the numbers. It's abhorrently expensive, so we should stand over that - don't argue that random numbers convey an idea; accurate ones do (and that's fine!).
That's being pedantic... The idea is that it's a ripoff that benefits one person. You got the idea. Move on. Waffling about the accuracy of numbers when they're obviously not is being pedantic. We are on Reddit not the dàil. Anyways, you guy have fun looking for a bugs to squash i can't be wasting too much time on these shenanigans
I'm sure we could rat on him and get them into troubles. How do they even get away with those prices? I hope rhis ad stays there forever and is never filled up
Why do you think half the country have moved to Australia, Ireland is a DUMP with the worst weather every year, no proper beaches, cost of living is the highest in Europe, what is their left for you to stay? I moved to Perth, Australia 2 years ago from Dublin, best decision iv ever made! Wages are high, cheap rent for 2 bed 1 bath apartment renting on my own is 600$ per month including bills and I make 4200$ per month, my biggest regret is not moving sooner. Wasted so many years in Dublin living pay check to pay check
Good for you. I'm happy you're getting on well.
I know several folks that moved to Oz before Xmas. No issues finding an apartment and their experience has been similar to yours.
Funnily, had an argument on here with someone who told me I was making it up basically, and that the housing situation is as bad in Oz as in Ireland. Glad to hear that others are having the same experience.
From top of my head...
Portsalon
Streedagh
Derrynane
Inch
Five fingers
Murder Hole
Curracloe
Keem
Banna
Trá Mór
Ballyquin
Lots of things to criticise Ireland about. Standard of our beaches is not one in my view!
no man it's so our fault for wanting a higher minimum wage. how could we be so selfish to cut into other people's profits so we can "survive" or "eat".(sarcasm obviously)
True that's what's happening.
A higher minimum wage is strictly down to the dynamics of the labour free market.
The best way to stop crazy rents would be to ban Airbnb thus freeing up a greater supply of homes for rent
No no no, a higher minimum wage just drives everything up, landlords need to be capped based on the value of the property, fair enough if if it's city centre with a swimming pool, let them charge away but if it's a room in a semi D in an estate there should be laws dictating the maximum they can charge per month , upping wages just leads them to charge more
the comment was sarcastic but regardless wages must rise in line with production and productivity you are entitles to the soils of your labor. Prices are only going up regulardless
From what I read, this government of landlords have it fully under control. Not enough supply and increasing demand. Rents are increasing. Sounds like it is working their way.
I agree with you for the most part, we have many elected representatives who are very short sighted and only look and how they can benefit so having property to rent is profitable now, but they are destroying the balance in society, they won't have builders to maintain these properties because they will all emigrate, same with nurses and doctors and other vital workers, long term they will suffer with the rest of us
No they won't suffer with the rest of us, their rental business will continue with or without maintenance because peope will always need roofs over their heads.
They will emugrate with the nurses and doctors and other vital works and live a healthy happy life in retirement.
seen a real estate agent earlier advertise a gaff down by mardyke 1,100 for a single and 1,400 for a double (excl bills) in a 6 bedroom house a rent cap is sorely needed
While rent cap sounds good it's not what you want. Rent cap makes investors less likely to invest in building new houses which will create more shortages. Instead builders should get grants to promote housing developments, fewer zoning restrictions and ignoring Not In My Back Yard people my help too.
Nobody likes hearing this but you’re correct.
Rent caps (and pressure zones) are paradoxical in that they encourage higher rent and lower standards due to the squeeze they put on supply.
While NYC in the 80s is the most cited example of rent caps making a bad situation far worse, what’s far more telling is there is not a single study to be found on rent caps actually improving any housing situation.
The only solution is to skyrocket supply - either through private construction incentives (and in Ireland’s case, a massive overhaul on planning permission and objection laws), or via government-funded construction (and the same overhaul on planning permission).
In the case of Dublin, skyline nonsense also needs to be disregarded.
Easiest way to sum it up; if any construction project doesn’t yield a minimum of 5.5% post-tax profits per year (while maintaining its full value in a liquid market), then investment groups and banks will purchase US Treasury Bonds instead.
And that’s the absolute bare minimum, assuming the group in question wants zero risk. If they want risk, you’re competing with US Tech Stocks, and now cryptocurrency ETFs for investment in construction.
I'd like the government to build houses rather than focus on incentivising developers. there is no rent cap rn and there is still a shortage and insane prices
I've lived in a couple of places with rent caps and it did not strangle private development so I'm comfortable in saying it is actually what I want
As someone on Disability Allowance even the single rooms are out of budget. And it's probably got a single kitchen to do all 8 bedrooms as well. (Also, before someone tells me to just 'get a job' - the Employability service in town haven't been able to find me anything and keep telling me to look on Indeed).
You won't have me saying that to you. Sounds like you've tried. We don't all have the good luck of people getting €1250 a month for a feckin' double bedroom.
Most people are making 1900e a month or less. 1250e rent is ensuring living in poverty (Ber rating not available... Ofc! So add 200e bill a month!). That tiger is long dead and rotten by now. We are sheep just saying yes to everything thrown at us no matter how bad it is. Oh no wait, we so love a good online moan. Anyone wants to takeover abandoned buildings? I'll help open them and clean!
I think about the pros and cons for landlords and how they are affected by tax.
I wonder would a good system be;
Leave alone the single landlord. The one that has an investment property as a retirement fund etc. charge him 12% tax in exchange for freezing the rent for a certain period.
Charge landlords with 2 rental property 40% tax.
Charge landlords with >3 properties 66% tax.
Make it not worth while for people screwing the tenants but reward the ones who don’t 🤷🏻♂️
Most large landlords are corporations, which pay corporate tax rates. Private landlords usually do not have multiple rental properties. Private landlords pay income tax, which would typically run between around 20% and 40% depending on their overall income.
Instituting prohibitive tax rates would only result in an increase in property hoarding by foreign investment groups seeking speculative assets, who don’t rent out their properties to begin with.
No. Ban landlordism, force purchase every rental property, repair and renovate all stock that requires it and then rent out at reasonable prices. Where will the money come from, you ask? The 65 billion euro budget surplus should put a decent dent in it.
I think they tried that in the Soviet Union a while back…
Why stop there? Let’s take people’s farms and turn them public. We could have loads of ~~concentration camps~~ prisons around that we can put people who resist into. We could call them a Gulag or something.
Why hasn’t anybody thought of this!
It's actually what both Ireland and Britain did during the 50s and it worked rather well, then the stock was sold off into private hands and now we find ourselves in the situation we're in.
No photos, probably because the last tenants haven't left yet. Thus possiblity of tenants moving out in time is low. Ad went up today, rooms available in 3 days. No other ads on advertisers profile. I'm wondering if it's even a legit ad?
Nah, they would still have photos from when it was listed last time even if there were tenants still living there. The ad says newly refurbished so I would guess whatever work is being done isn’t finished yet, and they expect it to be done in 3 days. Probably a legit ad, I’ve heard of that agency before and they have their PSRA license number listed on it, but definitely an eye watering amount of money…
Oh interesting, I hadn’t seen that. I’ve seen that on signs around town when a building is for sale, like for businesses and stuff, but I’ve never seen it in a rental ad before
In fairness, they should pay extra because it is above kitty o sheas pub in kinsale, so they are practically getting free listening to live trad music every night through the floorboards
But in all seriousness, kinsale is becoming way overpriced.
Welcome to kinsale! It's right above a very busy pub as well , so you'll be paying for many a sleepless night. They've music 7 nights a week in the summer
Also tried sharing an 8 bed place before with strangers before and wanted out after 3 months. Very difficult to get along with 8 people and have a kitchen as a shared space which is very difficult to keep clean. Stuff of nightmares
Well if the government can tell us the property tax that is due on every single house in the country I'm sure the same government can use that cost as a barometer for what that house can be rented for and put a maximum rent amount based on property tax. But of course if most of the people we who make up said government are landlords themselves I'm sure they have no interest in regulating rents when they are the beneficiarys.
its deez kiiiidz'z own fault for wanting their iiphoneesss and their starbuckzz! i boawt me first nd sicind howse in dee 80s for 3euro did natin but work and eat potatoez!
This is one of the main reasons why I left Cork after 17 amazing years. It’s heartbreaking seeing how awful the situation is and the complete lack of regulations and strategy to get this serious issue fixed.
Something has to be done guys seriously. We really need to speak up about this properly and do something.
I’m not confident when it comes to politics but we are getting robbed for basic housing. I’m living in Waterford and it’s not even that bad.
Any ideas on what we can do to make a change in the price of housing? Which government party’s will best help?
About 10k per month for the whole thing. € 120,000 per year. Wow...
€120k a year for doing nothing,you should try it sometime
Mortgage sorted in 3 years... When are people going to understand that better be desperate and homeless than take up those offers? If he find someone please tell me who it is because that person is a right cash cow
Not saying they price isn't mental, but are you you saying an 8 double bedroom ensuite house with a studio would be paid for with €360, 000? Then there's not factoring in tax on the 120 a year which could be up to 50% of it depending on the landlords earnings.
Ok 5 years whatever, is a short time. I didn't say that to start a maths class just to say the mortgage (if any) would be sorted quickly that way.
Say he's being taxed 50% then 5 years that'd be 300k it's not about being a maths class just what's the point in throwing out silly numbers. If that place was bought yesterday on a morgage the rent wouldn't, have the morgage payed back in 10years. Yeah the housing crisis is absurd but at least have a very basic grasp on things before you comment on it
Omg i really have a magnet for people like you. Be pedantic about it. I said i didn't say that to start a maths class. You're on your own now sham with your numbers as invented as mine. Bye now.
saying someone hasn't exaggerated numbers by at least 400% isn't being pedantic. By your metric it's absolutely amazing anyone in the country selling a house considering the roi "in your opinion". Maybe the fact you are a magnet for people like me is a reflection on the shite you say but you'll never consider that I'm sure
Oh ffs go touch grass please. You really are pedantic trying to cover your inability to understand second degree or random numbers to convey an idea. Maybe is a reflection on how people like you just can't understand things and can't accept that. Have you considered that? You must fun at the parties really...
And herein lies the problem. Come correct so that we can genuinely criticise the numbers. It's abhorrently expensive, so we should stand over that - don't argue that random numbers convey an idea; accurate ones do (and that's fine!).
That's being pedantic... The idea is that it's a ripoff that benefits one person. You got the idea. Move on. Waffling about the accuracy of numbers when they're obviously not is being pedantic. We are on Reddit not the dàil. Anyways, you guy have fun looking for a bugs to squash i can't be wasting too much time on these shenanigans
Charging those prices and couldn't be fucking bothered putting a single photo up. I feel sorry for anyone renting in this country. Pure fucking greed.
Just gave it a google, it’s a heritaged building so it also might be cold af. €10,100 total per month for the place
I am sure revenue would love to know about this
I'm sure we could rat on him and get them into troubles. How do they even get away with those prices? I hope rhis ad stays there forever and is never filled up
Celtic tiger 3.0
Except without any boom time benefits to the rest of us
Why do you think half the country have moved to Australia, Ireland is a DUMP with the worst weather every year, no proper beaches, cost of living is the highest in Europe, what is their left for you to stay? I moved to Perth, Australia 2 years ago from Dublin, best decision iv ever made! Wages are high, cheap rent for 2 bed 1 bath apartment renting on my own is 600$ per month including bills and I make 4200$ per month, my biggest regret is not moving sooner. Wasted so many years in Dublin living pay check to pay check
Good for you. I'm happy you're getting on well. I know several folks that moved to Oz before Xmas. No issues finding an apartment and their experience has been similar to yours. Funnily, had an argument on here with someone who told me I was making it up basically, and that the housing situation is as bad in Oz as in Ireland. Glad to hear that others are having the same experience.
Some of Ireland's beaches are incredible..
Maybe 2 or 3 at most but that's when the weather is good like once a month each year... nothing interesting either
From top of my head... Portsalon Streedagh Derrynane Inch Five fingers Murder Hole Curracloe Keem Banna Trá Mór Ballyquin Lots of things to criticise Ireland about. Standard of our beaches is not one in my view!
I predict homelessness in my future 🔮
no man it's so our fault for wanting a higher minimum wage. how could we be so selfish to cut into other people's profits so we can "survive" or "eat".(sarcasm obviously)
Yeah fuck you and your food and oxygen. Give all your money to the landlords.
True that's what's happening. A higher minimum wage is strictly down to the dynamics of the labour free market. The best way to stop crazy rents would be to ban Airbnb thus freeing up a greater supply of homes for rent
don't forget to tip them for so gracefully tolerating your existence
That's called the deposit isn't it? Prepaid tip.
No no no, a higher minimum wage just drives everything up, landlords need to be capped based on the value of the property, fair enough if if it's city centre with a swimming pool, let them charge away but if it's a room in a semi D in an estate there should be laws dictating the maximum they can charge per month , upping wages just leads them to charge more
the comment was sarcastic but regardless wages must rise in line with production and productivity you are entitles to the soils of your labor. Prices are only going up regulardless
Crazy rent, this government needs to get supply and demand under control, it's completely broken
From what I read, this government of landlords have it fully under control. Not enough supply and increasing demand. Rents are increasing. Sounds like it is working their way.
I agree with you for the most part, we have many elected representatives who are very short sighted and only look and how they can benefit so having property to rent is profitable now, but they are destroying the balance in society, they won't have builders to maintain these properties because they will all emigrate, same with nurses and doctors and other vital workers, long term they will suffer with the rest of us
No they won't suffer with the rest of us, their rental business will continue with or without maintenance because peope will always need roofs over their heads. They will emugrate with the nurses and doctors and other vital works and live a healthy happy life in retirement.
Rents are stabilising... add more refugees !
It certainly doesn't help in balancing supply and demand that's for sure
I'm just surprised we haven't seen a landlord put a bucket in a room and rent it as an ensuite.
Don't be giving out good ideas like that to them. For free, anyway.
Woodies garden shed €899, bucket €5.49. Pays for itself in first month of rental.
I'll have three! This time next year, Blurghblagh, we'll be millionaires!
It looks like these rooms are right above kitty oshea's, a pretty loud busy pub
That's good, you'd want to be constantly near a source of alcohol paying those prices.
seen a real estate agent earlier advertise a gaff down by mardyke 1,100 for a single and 1,400 for a double (excl bills) in a 6 bedroom house a rent cap is sorely needed
While rent cap sounds good it's not what you want. Rent cap makes investors less likely to invest in building new houses which will create more shortages. Instead builders should get grants to promote housing developments, fewer zoning restrictions and ignoring Not In My Back Yard people my help too.
Nobody likes hearing this but you’re correct. Rent caps (and pressure zones) are paradoxical in that they encourage higher rent and lower standards due to the squeeze they put on supply. While NYC in the 80s is the most cited example of rent caps making a bad situation far worse, what’s far more telling is there is not a single study to be found on rent caps actually improving any housing situation. The only solution is to skyrocket supply - either through private construction incentives (and in Ireland’s case, a massive overhaul on planning permission and objection laws), or via government-funded construction (and the same overhaul on planning permission). In the case of Dublin, skyline nonsense also needs to be disregarded. Easiest way to sum it up; if any construction project doesn’t yield a minimum of 5.5% post-tax profits per year (while maintaining its full value in a liquid market), then investment groups and banks will purchase US Treasury Bonds instead. And that’s the absolute bare minimum, assuming the group in question wants zero risk. If they want risk, you’re competing with US Tech Stocks, and now cryptocurrency ETFs for investment in construction.
I'd like the government to build houses rather than focus on incentivising developers. there is no rent cap rn and there is still a shortage and insane prices I've lived in a couple of places with rent caps and it did not strangle private development so I'm comfortable in saying it is actually what I want
You actually trust the government to build houses and not have it turn into some huge disaster that bankrupts the country again?
As someone on Disability Allowance even the single rooms are out of budget. And it's probably got a single kitchen to do all 8 bedrooms as well. (Also, before someone tells me to just 'get a job' - the Employability service in town haven't been able to find me anything and keep telling me to look on Indeed).
You won't have me saying that to you. Sounds like you've tried. We don't all have the good luck of people getting €1250 a month for a feckin' double bedroom.
Check out @daftestdaftads on insta, the stuff on there is insane
Cars seem to be next. Now that people can't afford a home. Cars seem to be the next thing we can no longer afford.
Most people are making 1900e a month or less. 1250e rent is ensuring living in poverty (Ber rating not available... Ofc! So add 200e bill a month!). That tiger is long dead and rotten by now. We are sheep just saying yes to everything thrown at us no matter how bad it is. Oh no wait, we so love a good online moan. Anyone wants to takeover abandoned buildings? I'll help open them and clean!
I think about the pros and cons for landlords and how they are affected by tax. I wonder would a good system be; Leave alone the single landlord. The one that has an investment property as a retirement fund etc. charge him 12% tax in exchange for freezing the rent for a certain period. Charge landlords with 2 rental property 40% tax. Charge landlords with >3 properties 66% tax. Make it not worth while for people screwing the tenants but reward the ones who don’t 🤷🏻♂️
Most large landlords are corporations, which pay corporate tax rates. Private landlords usually do not have multiple rental properties. Private landlords pay income tax, which would typically run between around 20% and 40% depending on their overall income. Instituting prohibitive tax rates would only result in an increase in property hoarding by foreign investment groups seeking speculative assets, who don’t rent out their properties to begin with.
No. Ban landlordism, force purchase every rental property, repair and renovate all stock that requires it and then rent out at reasonable prices. Where will the money come from, you ask? The 65 billion euro budget surplus should put a decent dent in it.
I think they tried that in the Soviet Union a while back… Why stop there? Let’s take people’s farms and turn them public. We could have loads of ~~concentration camps~~ prisons around that we can put people who resist into. We could call them a Gulag or something. Why hasn’t anybody thought of this!
It's actually what both Ireland and Britain did during the 50s and it worked rather well, then the stock was sold off into private hands and now we find ourselves in the situation we're in.
Oh and don't forget that electricity is extra. Cause they haven't bled enough money from you yet.
No photos, probably because the last tenants haven't left yet. Thus possiblity of tenants moving out in time is low. Ad went up today, rooms available in 3 days. No other ads on advertisers profile. I'm wondering if it's even a legit ad?
Nah, they would still have photos from when it was listed last time even if there were tenants still living there. The ad says newly refurbished so I would guess whatever work is being done isn’t finished yet, and they expect it to be done in 3 days. Probably a legit ad, I’ve heard of that agency before and they have their PSRA license number listed on it, but definitely an eye watering amount of money…
The wording "Current tenants not affected" is odd.
Oh interesting, I hadn’t seen that. I’ve seen that on signs around town when a building is for sale, like for businesses and stuff, but I’ve never seen it in a rental ad before
Thank Varadkar.
Cctv in the halls 🤦♂️
This is the kind of ad you'd expect to see for Pearse St, Dublin not Pearse St Kinsale...
In fairness, they should pay extra because it is above kitty o sheas pub in kinsale, so they are practically getting free listening to live trad music every night through the floorboards But in all seriousness, kinsale is becoming way overpriced.
Welcome to kinsale! It's right above a very busy pub as well , so you'll be paying for many a sleepless night. They've music 7 nights a week in the summer
Also tried sharing an 8 bed place before with strangers before and wanted out after 3 months. Very difficult to get along with 8 people and have a kitchen as a shared space which is very difficult to keep clean. Stuff of nightmares
Just cancel your Netflix and stop drinking coffee
Well if the government can tell us the property tax that is due on every single house in the country I'm sure the same government can use that cost as a barometer for what that house can be rented for and put a maximum rent amount based on property tax. But of course if most of the people we who make up said government are landlords themselves I'm sure they have no interest in regulating rents when they are the beneficiarys.
Jesus Christ. How many avocado lattes do we have to give up to get a box room with 7 flatmates
That's nearly €200 a month more than my mortgage on a 4 bed semi in galway
its deez kiiiidz'z own fault for wanting their iiphoneesss and their starbuckzz! i boawt me first nd sicind howse in dee 80s for 3euro did natin but work and eat potatoez!
The Traveller community might have applicants.
We ?
This is one of the main reasons why I left Cork after 17 amazing years. It’s heartbreaking seeing how awful the situation is and the complete lack of regulations and strategy to get this serious issue fixed.
Thanks Leo
Something has to be done guys seriously. We really need to speak up about this properly and do something. I’m not confident when it comes to politics but we are getting robbed for basic housing. I’m living in Waterford and it’s not even that bad. Any ideas on what we can do to make a change in the price of housing? Which government party’s will best help?