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
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.
Pic: Ed Dempsey and Assoc.
😞24th June, 2021 @MichealMartinTD : There will be new incentives for older people to downsize and free up homes for families
Older people to be offered incentives to downsize homes
— Mick Caul 😷 (@caulmick) June 24, 2021