Home Sweet Home - Apollo House Takeover

[Ashman]

Will you and @anon78624367 be supporting Midleton .

[Cicero_Dandi]

How is that working out at the minute?

Affordability is the main issue right now.

[Gman]

You’d think so.

the actual cost of building the house - known as “hard costs” - came to €150K, which at 45% is less than half of the overall cost of providing that house. Land and acquisition costs of €57,500, (17%) VAT of €39K (12%) and a margin of €38K (11%) make up the main elements of the “soft costs” which total €180K.

so either give tax breaks on VAT, or provide land so that cost does not need to be passed on or something. Northern Ireland have 0% VAT. Levies are another charge that the government would have direct access in controlling.

some more details on it here

Labour and materials 45% of new house cost, survey finds

[anon61878697]

Yes.

[anon78624367]

because there aren’t enough units. Simple supply and demand.

[Cicero_Dandi]

There aren’t enough affordable units.

[anon78624367]

and you think this is because people have multiple properties?

How would the rental market work if you couldn’t own multiple properties?

You’d generally buy the one you live in? Who’d front up the capital for the rest? Care bears?

[Cicero_Dandi]

Well obviously. Look at the state of the rental market. That’s where the real problem lies.

[anon78624367]

You’d want your head examined to be building houses for profit
What percentage of private builds have to go to social housing currently?

[Juhniallio]

@Cicero_Dandi

The most obvious solution to the housing crisis is barring people from owning multiple properties and creating a crazy rental market.

As I’ve argued before, you’re on the right track but barring the owning of a second property is unworkable and probably unconstitutional. The Irish property markethas been viewed as an investment goldmine for the last few years by people all over the world. (we did this ourselves to other countries when we had money …) This is the crux of the problem imo. So yes we need to put measures in to make profiteering illegal. In my perfect world, they include.
-Site Tax for developers to stop hoarding land or dripfeeding houses onto the market.
-Long term right for tenants. Security of tenure is massive.
-Rental caps based on market value(ie the property tax).
-A cap on profits per year on investment (I’m not sure what a reasonable return on investment is here 2-4%? One for the bean counters.
-A sliding tax scale for properties owned. IE, none on a designated family home, rising incrementally as the number of houses rises for any one person or company.
-Proper planning. Building up in our cities Dublin, Cork, Galway. It’s a joke.

When global/local investors see we’ve shut off the easy money tap they’ll sell half their shit and leave. They’ll still keep half of it because a few percent profit is still way more than they get from banks and even some countries bonds.

[Ashman]

I was talking to a consultant civil engineer lately and he outlined that and a great many more reasons why bar certain exception building houses in currently not viable .

[anon78624367]

so basically a regulated market.

[Ashman]

A lot of this is legacy of the Celtic Tiger . During the bad years Most of the landlords were nursed by the state and banks to suit lots of vested interests .

[anon61878697]

Ex- fucking- actly.

[anon78624367]

A lot of these measures would actually fix the rental crisis, but wouldn’t have much positive bearing on the housing crisis, in fact probably a negative one.

there would be very little new builds, and I’d say the interest rates on existing mortgages would go through the roof.

[Cicero_Dandi]

You fix the rental market and you go a long way to fixing the housing crisis.

[Juhniallio]

@anon78624367

A lot of these measures would actually fix the rental crisis, but wouldn’t have much positive bearing on the housing crisis, in fact probably a negative one.

there would be very little new builds, and I’d say the interest rates on existing mortgages would go through the roof.

I respectfully disagree.* They would greatly reduce fallow houses, be that rental turnarounds so lads can fuck out tenants and get in more expensive ones and sell their gaffes. They would also see houses built as the site tax would force people to develop what they have.
I appreciate, land prices are a massive part of the price, I would also fix pricing for that. But 48 % of purchases last year were cash buys according to last week’s Irish times. That’s either investors or people splurging entire inheritances. This greatly inflates all property prices. Which has a knock on effect of making renting the only option for all people on average wages. So it’s no wonder they can be raped by landlords.

*You did prove during the world cup that you are adept at seeing the future so maybe you are right.

[Juhniallio]

There are still some loons out there lads. These started out at €800 grand last year but they are now a snip at 725!!! 4 bed semi with northfacing backgardens, no front gardens and located next door to a petrol station.

https://www.daft.ie/dublin/houses-for-sale/portmarnock/hazel-manor-strand-road-portmarnock-dublin-1928107/

[Mac]

@Cicero_Dandi

You fix the rental market and you go a long way to fixing the housing crisis.

Serious question, is there a rental market problem outside of Dublin?

[Little_Lord_Fauntleroy]

@Juhniallio

There are still some loons out there lads. These started out at €800 grand last year but they are now a snip at 725!!! 4 bed semi with northfacing backgardens, no front gardens and located next door to a petrol station.

https://www.daft.ie/dublin/houses-for-sale/portmarnock/hazel-manor-strand-road-portmarnock-dublin-1928107/

& the local pub is a swimming pool