“Covid Effect” continues to drive up Irish house prices

The sharp increase in Irish house prices over the past year could continue in the near future, analysts say. In a recent survey of estate agents, four out of five surveyed predicted that national property prices would rise in the next year. The same survey also found that prices in some regions could rise by as much as 7 percent.

However, the rise in prices is most significant outside of Dublin. While experts predicted a rise of 4 percent in Dublin, a sharper increase is projected in areas outside the capital city. In Leinster, the rise is expected to be 6 percent, and prices are expected to increase by as much as 7 percent in Munster, Connacht and Ulster.

The Society of Chartered Surveyors Ireland (SCSI) and the Central Bank of Ireland Residential Property Price Survey was conducted in May, surveying over 200 estate agents. In this survey, the estate agents blamed the higher price forecast on homes outside of Dublin on the “covid effect”. The experts said that covid lockdowns and remote work situations have increased the attractiveness of …

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4 Ways to Invest In Apartment Buildings

 

It is obvious that investing in real estate is one of the best ways you can earn passive income and achieve financial freedom. However, making a decision to invest in apartment buildings needs you to consider various factors. Just like other types of real estate investment, there are various ways to get funding so that you can get started. The funding source depends on your level of investment, the amount of money you have, and the amount of time you want to spend. These are 4 best ways to invest in apartment buildings. 

Buy it yourself

This is the best way to do it. Despite the fact that this requires a lot of knowledge, capital, and time, it is the most rewarding method of investing in apartment buildings. As an investor, you will have the chance to make your own decisions and develop a good plan on how you need the investment to generate revenue. It is important to note that this method is best fit for those people who are ready to face psychological and financial demands required …

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4 Important Renovations to Increase the Value of your Home

 

If you are thinking about renovating your house, you need to begin by asking yourself if the project will add value to the property or not. There are many different quick and easy renovations which may change your home into an attractive, modern, and functional space. Even better, when you later sell the property, the return on investment will be really high. These are 4 renovations that will make your home more functional and modern. 

Bathroom renovations

Without a doubt, the your bathroom is one of the most important spaces in the home. When the bathroom is new, it can give off a good feeling of cleanliness. When you begin the process of renovating the home, ensure that the design is clean and that it has modern lines. Additionally, be sure to have grey and white colors at the center stage. Apart from a spacious shower, remember to paint the tiles, improve lighting, and install new fixtures. 

Kitchen remodeling

Kitchen renovation is one that adds the most value to your home since it transforms the space to a more …

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How to Buy an Apartment Building in Ireland

 

It s often very hard to comprehend how best to invest in apartment buildings. However, a good understanding of the 4 steps below will see to it that the entire process becomes more easy and successful. 

Be sure that you owning an apartment building is the right thing for you

Regardless of whether you are a novice in real estate or have already built up a portfolio, the most crucial question to explore is whether owning an apartment building is the right thing for you. There are many things to consider and these include time and cost. The costs associated with an apartment building include ongoing cash flow matrix and of course, the initial capital requirement. An apartment building requires a lot more management and involvement, like addressing issue to do with management, leasing paperwork, and dealing with the turnover of tenants. Prior to owning an apartment building, ensure that your finances and schedule are set up to cope with the change. 

Try to figure out the type of apartment building you want to buy

Apartments come in all …

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Is real estate the road to financial freedom in Ireland?

 

Real estate in Ireland is currently one of the most lucrative and secure business ventures.  The answer is yes, with the real estate sector being among the few sectors unaffected by the covid-19 pandemic. Real estate is the road to financial freedom in Ireland. Real estate as the road to financial freedom can be looked at in two dimensions: a tenant’s and an estate owner’s perspective.

First, let’s look at this from an estate owner’s direction. Renting houses in Ireland is getting more and more expensive by the days. The average price of renting a home in Ireland today is 30% higher than in 2018. This means that the Irish people in real estate are making a 30% increase in profits made from their investments. This is a lucrative business for the Irish people. Financial freedom might come with real estate in Ireland as it proves to be a venture that is unaffected even when the economy is adversely affected. In 2020, many Irish people lost their jobs to the pandemic, and the Irish economy went adversely affected. There …

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Why are investment funds buying up Irish Property?

Large-scale private rented sector (PRS) investors, sometimes called vulture or cuckoo funds, have rapidly become a major force in the Irish property market over the last few years.

As recently as 2017, these funds were a minor and insignificant part of the housing market. However, these firms have spent more than €6 billion buying Irish homes, apartment buildings, and commercial properties over the last three and a half years.

The cuckoo funds show no sign of slowing down in 2021, as they have spent €1.5 billion so far this year, according to recent figures from estate agents and property adviser JLL. Most of these funds are backed by international investors, and have quickly become big players in the market, particularly investing in deals for new apartments in Dublin.

But what is driving this relatively new and rapidly growing force in the market?

Analysts say that an influx of cash in European markets, lack of yields in traditional assets including bonds, and the huge surge in housing demand and high rent prices in Ireland have combined to create a very lucrative …

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Why are Property Prices on the Irish Coasts Rising?

According to research, properties along the Irish coast have increased in value since the pandemic hit demand, with sea properties outperforming pre-covid times by a large margin. The reports also show that property values are now 23 percent higher than the national average growth in the same period before the Covid-19 Pandemic, which was only 8.7 percent. These coastal zones stretch from Carlingford and Rosslare on the east coast to Renvyle and Dunfanaghy on the west coast.

According to a property report on the Daft website, it shows that the prices of coastal properties have risen since the onset of the pandemic, echoing a few anecdotes. One reason for the increase is that popular coastal properties demanded a premium over properties in other parts of the country. The report explains why the price of a home with a view of the sea is rapidly increasing, as some people are retreating from city life with remote operating standards for many after extended city shutdowns.

The website (Daft.ie) focused on some well-known coastal areas, listings related to the price register, in …

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Are we at risk of Celtic Tiger property prices?

The Sunday Indepnedent ran a piece quoting Karl Deeter on the danger of high house prices, he said that ‘trees don’t grow to the sky’ which is a common expression in economic analysis that warns of the dangers of extrapolation upwards.

It’s common to hear ‘never again’ until something does happen again and that’s a real risk in housing because the headwinds are there to encourage an industry to go into hyper-supply which does resolve shortages but which usually also overshoots.

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Promote housing, tax it appropriately and spend that money on making more housing

When you talk about being in favour of ‘more property tax’ you quickly lose the room, but what if we had less income tax and more tax on immovable assets? This is a targeted wealth tax given the way that property and wealth are intertwined, it also means those with the most valuable homes would contribute more and could encourage down-sizing too which would help free up chronically under-occupied housing stock.

This can be an emotive topic, we understand that, but so is the plight of young people facing a market that isn’t affordable and a housing shortage that is driving prices to dangerous levels.

Listen to the full clip here.

 

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Why are house prices surging in Ireland?

House prices in Ireland have surged in the last 12 months. Two separate reports have pointed to a 13 percent increase in house prices over the last twelve months, both in Dublin and nationwide. Property website myhome.ie, which is owned by The Irish Times, pointed to a ‘red hot’ demand outpacing supply as one of the main reasons for this increase in their latest quarterly report. According to MyHome, house prices nationally increased 13 per cent to €303,000 in the second quarter of 2021, breaking the €300,000 mark for the first time in recorded history. In Dublin specifically, they found the average price to be €412,000, representing a 10.6 percent increase on the year. Daft.ie, another property website, reported similar increases in the price of homes on its website, up 13 per cent on the year to €284,000, the highest such increase since 2015.  This increase means house prices have increased for four consecutive quarters, the first time this has happened since 2014.

This substantial increase put house prices nationally 14.3 per cent lower than their highest-ever level in 2007. …

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