Privately owned housing in Emsdetten

The houses that are for sale in Emsdetten are mostly provided by real estate agents or banks. Flats are rather provided by real estate agents than by private people as well. Buying or renting a house or flat is quite expensive in comparison to other towns in the surrounding. I did a research to find out how much flats in Emsdetten cost. When people look for flats with two bedrooms which are provided by real estate agents or banks, the prices are between €608-€825 per month. The price depends on where the flat is located, how old it is and how many square meters it measures. Three bedroom flats cost €680-€800 per month. The price for a two bedroom flat provided by private people is €760-€850. Flats with three bedrooms cost €860 per month.

The prices for flats are more expensive than in other towns because the demand is very high. When looking for flats on websites like “ebay-kleinanzeigen.de”, which is very popular in Germany, there are many people that are looking for flats in Emsdetten. So when a flat …

Read More

Dortmund Property Market – areas, prices and average costs

Areas and Districts

The city of Dortmund is divided into twelve distinct districts. All city districts are then subdivided into a total of 62 statistical districts. Some of main, more well known districts include Downtown-West, Downtown-North, Downtown-East, Eving, Scharnhorst, Brackel, Aplerbeck, Hörde, Hombruch, Lütgendortmund, Huckarde and Mengede. 

Price fundamentals

Housing prices in Dortmund depend greatly on a number of factors, not unlike any other city. As any good realtor will tell you, pricing is mainly contingent on location. After that buys and sellers look for things such as year of construction, the condition of the property, living space, date of last modernization, final energy requirement (e.g. quality of insulation), surroundings, neighbourhood, car parking spaces or garages and much more. For this reason the following information may differ.

Development of prices / rents

The Empirica Price Database and others form the basis for the following comments on the property price development in Dortmund:

Depending on location, interior or other criteria from above, the current rent for an apartment in Dortmund are somewhere in between 7 € and 12 € per square …

Read More

Ireland: Dealing With Crisis

In previous articles, I’ve discussed the ever increasing population of unemployed and homeless people in Ireland, as well as the rising housing prices. At times the two may go hand-in-hand. Higher cost of living could lead to homelessness, and so on. Within the last 12 years, the homeless population has tripled and the cost of living in Ireland has risen to 102% higher than the EU average. These two issues have rooted themselves all throughout Ireland, with no signs of being deweeded. While looking at the issues from an outside perspective may leave you believing nothing is happening to solve these circumstances, the government does have some plans in place to combat said issues. 

The Irish Council for Social Housing (ICSH) is one of the largest contributors to the development of various social housing services. One of their main goals is to “deliver housing and combat homelessness”. The ICSH has already proposed their plan and budget for next year. With funding from the Department of Housing, Planning and Local Government, the ICSH has “an overall package of €2.6 billion to …

Read More

Mm Capital propose building university dorm copycat in Dublin 1

With housing options becoming more and more difficult to secure for an affordable price in Dublin, many people wonder when the ever-expanding city will reach maximum capacity. With the thought of growth being stagnated by the availability of homes or apartments at a reasonable price point on the brain, Mm Capital began looking for answers. 

In partnership with international shared residential operator SQRE Living, Mm Capital composed and submitted a building proposal that would allow them to build a 132-bed co-living development on a 5000 square meter plot. This residential building would be located at 39-42 Hill Street in Dublin 1. 

Although this sounds to be an outrageous propositions, students all across Europe and the United States live in these type of conditions for 2-4 years of their lives while attending university. Many of the dorms strewn across campuses can house hundreds of students easily and effectively. 

This real estate investment and development firm has also mentioned many different styles of living that would be available. Around 75pc of the 132 rooms would be 19 square meters, while the other …

Read More

Construction slowing in new home development sector

With competition for loan approval building, home development companies are feeling the heat. This year has proved to be one of the most difficult for possible consumers to obtain loans, largely due to the uncertainty that Brexit brings to the table. Due to the lack of accessibility of funds when attempting to purchase a home, many homes have simply gone unfilled. 

Goodbody Stockbrokers, a  company that specializes in asset management and global investment funds, has taken a clear interest to the changes that are currently happening in the market. This company developed a house building tracker, which in turn showed that from April to June 2019 there was a sharp decline in the output of newly developed housing. 

This is largely due to the fact that without the high availability of loans, many homes simply are not getting sold. In the lower priced areas of the housing market, there is significant competition but any home that is priced at or above €500,000 has been struggling to get off the market. In general, this trend is showing that affordability is becoming …

Read More

Rent prices pierce ceiling

Rent prices, something that seems to always be steadily increasing. In 2016, the Irish government began to take note of a fast moving, upward trend in certain zones and put a price ceiling on rent prices in an effort to regulate these changes. Areas that have a high likelihood to increase rent, specifically because of location and competition, are called Rent Pressure Zones (RPZ). 

These zones are primarily located in the larger cities, such as Dublin, Galway or Cork and have specifications that help to protect renters from exorbitant hikes in monthly prices. Any property within a Rent Pressure Zone are legally not allowed to increase their prices by more than 4pc each year. 

This ceiling in rent increases are intended to create a more affordable market for landlords and tenants so that they can have a good idea of how prices could rise; this is ideal for planning housing opportunities and finances in the future. This program worked for the most part, with many tenants seeing an increase of between 2.4 and 3pc a year from 2016 to 2018. 

Read More

Is Long-Term Renting Sustainable?

Lifelong renting is becoming increasingly popular within Ireland’s largest cities. Influential Cork developer, Michael O’Flynn, talked about instances when he heard of people suggesting that up to 50% of houses should be rented. O’Flynn heavily disagrees with this statement and suggests that ideas such as economic and pension polices should be reviewed.

O’Flynn most recently addressed this issue during his discussion at the Institute of Professional Auctioneers and Valuers (IPAV). He set out to prove that retirees could not sustain a long period of renting properties and instead should have a house paid off to retire in. He asked the audience, “There are currently five workers for every pensioner, but the projection is for this to drop to two workers for every retiree by 2050. Have we considered how that will impact on pension income?” The renting model is not affordable for many classes of people and can cause severe economic troubles down the road when savings begin to dry up. Renting can be a great alternative for people moving to new areas or students and young adults in the …

Read More

Rent or Buy Report: 2010 Towards a modest conclusion, by Peter Stafford, Frank Quinn and Karl Deeter

The ‘Rent or Buy?’ report was featured on RTE1 ‘Drive Time with Mary Wilson‘ yesterday, it was prepared by Dr. Peter Stafford (Independent economist recently taken on by the Society of Chartered Surveyors), Karl Deeter (of Irish Mortgage Brokers) and Frank Quinn (of Senior College Dun Laoghaire). In the report we ran six different future scenarios with a view to determining whether it made better sense to rent or buy a property.

The findings are in the report, you can download it by clicking on the image to the left.

Our findings were fairly consistent, showing that in almost every future scenario that renting makes better sense from a cost perspective than buying does. The times that buying is better is in an upward only market and a flat market.

That may help to put numbers …

Read More