The starting bid on the family home in Rathmines was €685,000, It sold for €1.25 million
To an investor, €1.25m for a four-bed house in Rathmines makes financial sense right now.
That’s because the average rent listed for a four-bed at the moment is €3,993 a month (Source: Daft)
— Killian Woods (@killianwoods) June 24, 2021
Meanwhile….
Social Democrats Housing Spokesperson Cian O’Callaghan said:
“Paying €1.25m, when the annual rent roll for that property will be nearly €50,000, means the investor makes a healthy return. They will secure a yield of nearly 4pc a year on their investment – which is a much better return than can be found almost anywhere else in the world at the moment.
“It is also a much safer bet than most investments – because the State guarantees this rent roll for 25 years. Instead of building its own social and affordable housing, the Government is reliant on the private market to supply homes. It is doing long-leasing deals with private developers and investment funds, which is the reason they are snapping up any meagre housing supply that comes on the market.
Four houses going for way over their asking price in bidding frenzy (Extra.ie)
Pic: Ed Dempsey and Assoc.
Meanwhile…
😞24th June, 2021 @MichealMartinTD : There will be new incentives for older people to downsize and free up homes for families
▪️Feb 2019
Older people to be offered incentives to downsize homes▪️Nov 2020
Study finds most older homeowners don't want to downsize#HousingCrisis pic.twitter.com/dS78xeExJV— Mick Caul 😷 (@caulmick) June 24, 2021
Hmmm. Blackrock are buying up all available real estate in the US for up to 50% over asking price. How? Coz they’re a giant commercial banking entity that can print it’s own money. Why? Because you will own nothing and be happy. Build back better. Funny how conspiracy theories keep coming true these days.
I heard about Blackrock group on Breaking Points youtube channel. Its pretty scary how giant corporations are taking over the entire world. Their goal is to create a renting class who will never be able to save money. Absolute control! And most of our politicians have been bought by financial giants like this. The good thing is that new media, mainly online, is exposing these goons, but there is so much work to do. If Blackrock group asked the Irish Gov’t to jump they would just reply “how high.”
We’re all just waiting for another ‘all the ballsy guys are buying right now’
People are been panicked into bidding crazy by the powers that be via the media. Unemployment is 22% and there’s not one story about it. Another 300,000 on the 70% scheme but this one house is the news story.
We need a website where the top three bidders meet, do rock paper scissors and the winner pay the asking price.
Well as the article notes, clearly they are.
Yea and their shiny offices. Preferably with all the staff ….
Telling yiz now lads and lassies – especially those with young families. If you’ve been paying off on a house in Dublin say for 15 years, the difference in what it’s now worth and what you owe will enable you to pay off the mortgage and buy outright a decent 4-5 bed in the likes of Wexford, Carlow, Waterford countryside but near towns, with fiber broadband. And still have change to buy that mercedes you always wanted. The odd trip to Dublin for meetings, but working from home mostly. (Nice to have a beer at lunchtime)
Seriously worth looking into.
I seriously am
even the odd night in a hotel in the city if needed. further outside the m50 the better these days
I had to emigrate to Germany save money. I am so glad I did. (Except for missing family and friends since the pandemic) I thought the housing crisis was madness 5 years ago! Its even worse now. When I read how much homes in Dublin sell for it gives me the sweats. Its leprechaun economics at their worst.
….and they still won’t build new homes and estates!!
Can someone tattoo their foreheads? BUILD!
Giddy, I started the search about a fortnight ago, I saw the prices & had to make the calculations a few times, I kept thinking I’d left out a zero somewhere. When I up sticks, there’ll be only one of my four siblings remaining in Dublin, the rest have all bought or even built far from the smoke. Wexford here I come…
I live in Kilkenny and a house beside me – good nick, 1 acre of garden, lovely country area, two local country schools, 6km from city sold for 300K. Needs a bit of work – prob 100k. New owners both from Dublin, three kids, two great jobs with remote/ hybrid options. Sold their house in Dublin. Cannot believe their luck. People are nuts in Dublin paying to live in a city that is a pretty awful place to spend your life. Live in the country and live better & cheaper. Kilkenny is super, great food, easy pace, festivals, outdoor stuff. Move people!
How am I going to support my heroin addiction in Kilkenny?
more to the point, if you want to kick heroin you’ll be travelling up to dublin daily for your methadone.
if you wanna kick heroin why substitute one opioid drug with a long half-life (methadone) for a short-acting and injected opioid drug (heroin)-its an out dated failed treatment to kick a habit,it just maintains the habit or manages it but its not a way kick anything,lots people wanna die high as is their right.
Kilkenny is amazing and the cartoon factory-wow.
if you wanna kick it in ireland johnny, that’s what you get right or wrong.
Dhaughton99 Just hang about near the train station and you will be fine.
the problem is the 3 kids are probably settled in dublin school finding a school with 3 places available.
though its a great idea, tks for sharing this story. i see this happening more and more.
my job is telling us we only need to do one day in dublin office a week. So kilkenny may be an option for me.
@ D Troll if you are able to work one day a week in Dublin then you have options. Early train to Dublin and lots of busses or car share, on the Motorway so I get from my house to Dublin Red Cow in 1hr 10 min and Luas the rest of it if traffic bad.
Schools – lots of the rural schools are open for pupils. They found a school that had two places and their youngest is under school age and found a local childminder to mind their youngest in the country. Lots of employers in KK, State Street, Banking 365, Glanbia, TaxBack. Great city to live in and the coast is only 1 hour away. Would not live anywhere else.
Try schools in Clara, Danesfort, Gowran etc and you should get a place.
Good Luck!
But then id have to live amongst Kilkenny people. Kilkenny people are insufferable,
@Chimpy Nah, We are really nice, polite even. We’d never get into arguments with trolls and the like. Besides lots of Kilkenny is not just Kilkenny people so you’d prob find someone just like you.
Good Luck!
The average rent for a 4 bed ahouse in Dublin 6 is €2,592 (Daft Rental Report Q1 2021). Why is he pulling a whole argument out of a made up figure.
https://ww1.daft.ie/report/2021-Q1-rental-daftreport.pdf?d_rd=1
Older people need good alternative forms of accommodation near their current homes if they’re going to downsize. They don’t have them so they won’t.
They don’t need incentives.
Free movement of capital baby! We’re an open economy and all that… we are but ants and they are an ant eater.