Belmayne Estate on the Malahide Road at Clare Hall, Dublin in 2007
..and so it begins! Costs of balcony/fire safety corrective works expected to be pinned on Belmayne property owners…
Previously: Belmayne on Broadsheet
As if renters aren’t stressed enough.
Got sent this.
How many tenants barely holding onto their HOMES and with nowhere else to go got something like this in their Post box? This agressive advertising treats tenants like we don’t exist – is there no code of practice?? #not1home pic.twitter.com/aDuxPS1JeU
— Mick Caul (@caulmick) October 8, 2018
“A blank canvas is presented to the market and the opportunity to put your own stamp on this canvas is at hand…
…set in the famous South Lotts area of Ringsend which once housed dockers, millers, bakers, gas workers, butchers and glass bottle makers…
…now it is home to software engineers, computer scientists and social media gurus as well as the local community and it retains its ambience and a sense that people still count. A true community feel…”
30 Square metres.
Social media gurus.
This is the best property bubble ever!
Thanks Yadda Yad
Apart from the ‘ker-ching‘ sound you hear during a bubble.
Ailesbury Lawn, Dundrum/Ballinteer, Dublin 16.
Thanks Neil Curran (him off the telly!) and Dhod
First Time Buyer writes;
We woke up to the news today that Dublin property prices are predicted to return to pre-crisis prices by February 2020 – a mere 2½ years away.
The caveat of course is that this prediction has been made by “experts” Savills, who its fair to say have a bit of a vested interest in the property game.
Nevertheless you have to ask yourself, how did a country with the worst housing-market crash in the world return to such a place.
Fine Gael wisely advised us ‘to make sure that we don’t repeat the mistakes of the past’ and promised to “prevent that boom and bust cycle that bedevilled us for so many years”.
They told us they were different from Fianna Fail and that “there will be no return to the past where tax incentives for developers drove supply.”
The problem though is that rather than give tax breaks to developers to BUILD, they gave tax breaks to investors to BUY; 7 Year capital gains tax exemptions, introducing tax-free REITs, encouraging the use of tax free SPVs, QIAIFS and ICAVs.
OK but all that was done to ‘kick start’ the property market and the government have learned their lesson, right?
Successful lobbying by interest groups such as the Residential Landlords’ Association created the myth that landlords were leaving the market due to the the ‘stringent costs’ of running a rental property. Landlords it seems, are also allergic to paying taxes.
The government, believing the hype, immediately increased tax relief on mortgage interest meaning landlords could now deduct 80 per cent of the interest paid on borrowings on a rental property up from 75 per cent previously, with “full interest deductibility” to be restored for landlords by 2021.
So what can we expect in Budget 2018?
The Department of Finance recently held a consultation on the “tax and fiscal treatment of landlords” and our new Minister for Housing, Planning and Local Government, Eoghan Murphy has publicly stated that he thinks we need to “look at new measures to support and/or encourage landlords”.
Lessons learned? I don’t think so.
Property prices have climbed to dangerous levels in several advanced economies, raising the risk of massive price falls if markets overheat, according to the Organisation for Economic Co-operation and Development (OECD).
Catherine Mann, the OECD’s chief economist, said the think-tank was monitoring “vulnerabilities in asset markets” closely amid predictions of higher inflation and the prospect of diverging monetary policies next year.
Thanks Louis Le Fronde
Only a 60% increase in four days like… And half a million quid for a flat in Ringsend [Dublin 4]…
Looks like the bubble has popped. The new Central Bank mortgage guidelines is good news for first time buyers as sellers are having to drop their prices or risk missing the boat. 90% of all price changes on Daft/Myhome lately are now downwards…