It’ll Be Apartments In Bulgaria Next

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it

“With cash on deposit earning so little due to record low interest rates, and a boost in Dublin prices offering homeowners based in the capital a comforting rise in equity in their principal homes, it seems that more people are taking the plunge…”

Seriously?

Is now the time to buy a holiday home? (Fiona Reddan, Irish Times)

Related: For Those Who Shouted Stop He Salutes You

Thanks Reegore

29 thoughts on “It’ll Be Apartments In Bulgaria Next

  1. Drogg

    Seriously the Irish times is such a joke, look at all the trouble their property speculation caused the last time. If you listen to this nonsense you deserve to be bankrupt.

  2. Buglebum

    Shameless. Amoral. Cage rattlers.

    Like the last decade never happened.

    You have to admire the chutzpah of the IT. The horrible horrible chutzpah

    1. Lilly

      They have to try and scratch back their my home.ie losses somehow I suppose. Desperation in not a good look.

  3. YourNan

    lol, you would have to be mentally retarded in 2014 to get shackled down with property in this country, they are just salivating at the prospect of cutting you down with made up taxes and charges to keep on paying their army of overpaid, unionised, chair warmers in their ranks. Blow it all on hookers and coke says I.

    1. Domestos

      I think the George Best quote should be de rigueur with any mention of coke and hookers.

    2. Spaghetti Hoop

      Yes but those with cash need things to buy. I wouldn’t get so worked up about this – tis the way of de wordeld.

  4. Mr. T.

    The current rise in house prices in certain areas of Dublin is temporary.

    The people who are looking in those areas are a finite number and the number of mortgages being approved is also finite. The demand will tail off next year and the increases will slow if not reverse slightly. So if you want to buy a house with a garden within a few miles of the city centre and aren’t in a hurry, you’re better off waiting a year or two.

    The reason for the last bubble was too much money on credit, given to people who couldn’t afford it.

    1. curmudgeon

      How is it temporary? Dublin is the only place in Ireland with jobs and infrastructure. Every other county has had essential services shuttered and this will not change for the foreseeable future. Dublin is where the demand is, if it wasn’t then rents would not be so astronomical in relation to the rest of the country. For two comparable houses say one in Blanchardstown vs one near Gorey, the former will command double the rent of the latter.

      1. Atticus

        Dublin also has a lot of land that can be built on. We’re not talking London/Manhattan style property crisis. It will even out again.

        1. Anne

          “Dublin is the only place in Ireland with jobs and infrastructure”
          Yeah, the rest of us country culchies are out picking turnips and shovelling cow shite in da fields.
          Go way out of it.

          I’m starting to suspect there’s a big population of Dublin who never leave Dublin..

  5. tomkildare

    house prices will get higher till it reaches just below the 2005 level and buying a house cheap house down the country is a good idea as you will definitely get capital appreciation and a lot of it quickly. all doom and gloomers will keep banging on will allways miss the opertunities

  6. Lilly

    Every estate agent in Dublin is attempting to inflate prices. Can they pull off the confidence trick a second time?

  7. jungleman

    The RTE business correspondent said that the reduction in negative equity in Dublin would have the benefit of freeing up supply in the region. He didn’t seem to note that this would involve the continued rise in prices. So the logic is that the lack of supply (the problem) is the solution to the lack of supply.

    1. The Pedant

      Actually the logical conclusion of that is people either selling or banks repossessing leading to gaffs landing on the market

      1. jungleman

        Yeah I got that point funnily enough. It still ignores the requirement for prices to continue to rise. So it’s not really a solution to the problem at all. It’s just another bubble.

    1. Lilly

      Tell that to my bank manager. Then break the news to my employer. It’s high time he started thinking about a post-recession salary increase :)

  8. Anne

    Did I just hear on RTE news that the banks will be happy to hear of the report that shows that the number of homes in negative equity has reduced and that it will have a positive effect on their balance sheets?

    Jesus weep.

  9. Arcol

    Pent-up demand from cash buyers + finite no of houses in certain areas = temporary rise. Salaries static + disposable income falling = prices levelling off or falling. Holiday home my hoop. Irish Times. For shame.

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