The converted shop on Bird Avenue, Dublin 14 on sale for €775,000
Fed-up, rent-robbed student converts old sweet shop into luxury dwelling.
Now, why can’t you show the same ingenuity?
He got up off his behind and did something.
Instead of whinging.
‘I was paying silly money to rent an absolute kip’ – meet the student who turned an old shop into a €775,000 home near UCD (Independent.ie)
Dail Eireann, Dublin 2.
Paschal Donohoe claims Ireland need MORE international property funds (extra.ie)
Figures released earlier show that Dublin house prices increased by 11.3% and apartment prices increased by 5.7% in the year to August.
Via RTÉ News:
Residential property prices increased by 10.9% nationally in the year to August, with about half of this growth coming in the latest three months, new figures from the Central Statistics Office show.
This is the largest annual change in prices since June 2018, the CSO said.
The CSO reported significantly more transactions in the market in August with people buying 3,764 homes, an increase of 59.6% compared to the same time last year.
Home prices jump by 10.9% in year to August – CSO (RTÉ)
…Cian O’Callaghan TD , Social Democrats housing spokesman, said:
“What is the government going to do to control soaring costs? It’s only big idea, to solve the housing crisis, is to pour petrol on the fire of an already red-hot property market, through their proposed shared equity scheme.
“Schemes like the ‘help to buy’ scheme and the ‘shared equity’ scheme will not increase the supply of affordable homes – they will ratchet-up prices to ever increasing unsustainable levels.
“The government does not want to make housing more affordable. The best way to make housing more affordable is to build homes that are affordable instead of continuing to waste money in subsidies for developers that push up prices.”
Dublin City Council Chief Executive Owen Keegan
Further to Dublin City Council chief executive Owen Keegan’s suggestion to UCD Students’ Union President Ruarí Power that his union become property developers to ease and profit from the housing crisis…
….a protest took place outside Mr Keegan’s office.
Via University Times:
UCDSU President Ruarí Power told the crowd:
“To prioritise the profit margins of private purpose-built student accommodation providers over the public good is a shameful act which will push young people into precarious living circumstances over the coming months”
Power told the crowd today: “We’re not here primarily about a few sarcastic remarks … the big problem here is the underlying attitude that students are an economic good. They’re there to be absolutely fleeced, left, right and centre.”
Purpose-Built Student Housing ‘Was Never About Students’, Protest Hears (University Times)
The council’s housing committee agreed to hold special meeting to discuss his remarks. The Sinn Féin group of councillors has called on him to resign while almost all councillors called on him to withdraw his remarks.
Mr Keegan’s statement has also been criticised by Taoiseach Micheál Martin, Tánaiste Leo Varadkar and other ministers.
Students protest over lack of affordable accommodation (RTÉ)
Yesterday: Keegan’s Bluff
rices for three-bedroom semi-detached homes nationwide have risen more than 4pc over the past three months
elling prices for three-bedroom semi-detached homes have risen more than 4pc over the past three months nationwide, with areas such as Drogheda and Limerick recording double-digit increases in the same period, according to new data released today by the Irish Independent REA Average House Price Index.
The survey also shows house prices in Dublin are surging by €1,500 a week.
The price of the average semi-detached home rose by an average €10,000 countrywide over the past three months to €253,685 – leading to an annual increase overall of 8pc.
The biggest rises in Q2 came in commuter counties and the country’s large towns as buyers continued to move out farther from the capital in preparation for long-term hybrid-working situations…
‘Red hot’ rises: Return to Celtic Tiger era as house prices surge by up to €1,500 a week (Independent.ie)
The starting bid on the family home in Rathmines was €685,000, It sold for €1.25 million
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.
From top: Minister for Finance Paschal Donohoe and Minister Public Expenditure and Reform Michael McGrath during a press briefing on the Economic Recovery Plan in Government Buildings this morning; The new band charges could be presented to homeowners next January and February
Minister for Finance Paschal Donohoe gave some detail to his plan to increase Local Property Tax….
…Under the changes, all properties will be revalued on 1 November this year.
According to the CSO, house prices nationally have risen by 90% on average since their low point in 2013.
According to an analysis by the Department of Finance, 11% of property owners may see a decrease in their tax, while 53% may see no change.
It said 33% may see their tax go up one band, up to €100, while 3% may see a jump of two bands or over €100.
The exemptions for people who bought in “ghost estates” will lapse, while exemptions for people in pyrite damaged homes in Limerick and certain eastern counties will be phased out.
…Income thresholds for deferrals have been raised to €18,000 for a single person and €30,000 for a couple.
Local Property Tax valuations to be reviewed every four years (RTÉ
Julien Behal Photography/RollingNews
The Casino apartment complex, Malahide, county Dublin
Via The Irish Times:
National Asset Management Agency (Nama) is close to signing off on the bulk sale of 69 apartments in Malahide, Co Dublin, to a UK-based investment fund.
A deal has been reached in principle to sell the apartments at The Casino development in Malahide village to SeaPoint Capital, a serial block-buyer of apartments for the rental market.
Some 34 apartments in the complex were sold to private buyers for an average price of €433,000 over the past 2½ years. Nama is selling the remaining unsold apartments in bulk.
Nama close to approving sale of Dublin apartments to UK-based fund (Irish Times)
Prime Time on RTÉ One.
Yesterday: Estate Of The Nation
Bay Meadows in Dublin 15
Via The Irish Times:
A global investment company has been involved in the acquisition of a new development of 112 houses in north Dublin in order to rent them out.
Round Hill Capital is the same company which also bought most of the houses in a Maynooth, Co Kildare, housing estate.
The company, together with SFO Capital Partners, has acquired Bay Meadows in Dublin 15, which it describes as “high-quality suburban family homes”.
Investment firms buy estate of 112 new houses in Dublin to rent out (Irish Times)