It looks like we're going to get a couple more rises to end of 2006.
Seriously, fair play to you. You'd be mad to take on the risks associated with such a purchase in the current climate.
So are you saying that AAM was the major factor in your decision?
Only way is up to solve city's housing crisis, claims new report
APARTMENT living is the only way the desperate demand for property in Dublin will be met after 2012.
A hard-hitting report has urged the City Council to promote the building of large complexes and family-orientated
apartments as the supply of land for housing between the canals runs out over the next six years.
Ireland's supply of apartments falls far short of the amount on offer in other European countries.
Large apartment complexes make up just 1pc of properties here, compared to 4pc in Britain, 19pc in Denmark,
18pc in Holland and 28pc in Austria.
There are currently 200,000 people living in apartments - most of them single or childless couples.
"The only way to meet projected demand within a reasonable city footprint is by ensuring apartment developments
remain the dominant form of new housing," stated the report by Evelyn Hanlon of Dublin City Council's Private Housing Unit.
The report, Successful Apartment Living, commissioned by Dublin City Council, also emphasised that a range of new
apartments for various household sizes and types needs to be encouraged.
Its author said families, especially those with young children, need specially designed apartments. These should
include access to laundry facilities in a separate area away from the kitchen, and kitchens and bathrooms designed
with families in mind.
The report also urged that the council should set up a new legal framework for management companies to increase
'sustainability'.
"When a company is struck off, it is very difficult for owners to sell their apartments, because there is no legal
body in existence to own the common areas."
Anne-Marie Walsh
Any comments on the OECD anyone?
However with every interest rate change or knock to the US economy (we're very dependant on them after all) we get closer to reaching some of the other possible outcomes that they mention. Here are the two that they mention in the report:"Thus, the most likely scenario is that prices will level out or decline slightly, housing construction will fall back gradually, turnover will decline and the market will remain subdued for some time. But even in such a scenario, government receipts would weaken sharply, so that a substantial structural budget deterioration would come on top of any cyclical weakening."
"...there are alternative scenarios on the upside and downside that could have significant macro-economic implications. The first is that the housing boom may not run out of steam of its own accord, leading to serious overvaluation and imbalances throughout the economy..."
"...The second scenario is that house prices fall sharply, either because they are more overvalued than they appear or because a negative shock hits the economy. The impact on activity and the budget could be large."
"When a company is struck off, it is very difficult for owners to sell their apartments, because there is no legal
body in existence to own the common areas."
I would like to hear a logical reasoning why yields in Germany are almost double Ireland - no interest rate or currency risk, so why such a large gap?
This is something you wouldnt want to be in your investment profolio in the current weakening market.
homeowner said:There are currently 200,000 people living in apartments - most of them single or childless couples.
Article from today's Irish Independent, apologies for the formatting:
If it is true and there is/will be a shortage of space in dublin in the next 5 years then I think dublin prices will hold quite well.
Gawd that is one desperate looking apartment. And as for the price... you'd want to be insane.
Yes, they would laugh. However, many of the new apts built recently in the burbs will look like that over time. It's unnerving to thing apts like those 30 years ago were considered state of the art.You show that to any foreign friends and they will tell you without even knowing the market that property prices are just 'wrong' and are in-line for a correction.
But Phoenix - is there a greater risk to capital in Germany?
If not, then why is the yield double the yield available in Ireland?
If it is true and there is/will be a shortage of space in dublin in the next 5 years then I think dublin prices will hold quite well.
(stuff about shortage of family living space in Dublin)
If it is true and there is/will be a shortage of space in dublin in the next 5 years then I think dublin prices will hold quite well.
Think of it as current irish property is half the yield of what it should be.
That is why there are empty blocks in Sandymount, huge vacancy levels in the new build in areas such as Smithfield..... This is one of the myths propagated by the EA's which causes some investors to still believe that
there is a shortage...
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