Misc Dublin

Hawkwind

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Weird but have the same thing going on in Cornwall right now. Friend just put a 4 bed apartment at Discovery Quay in Falmouth on the market with Savilles and 2 of the 4 viewings on Saturday were foreign investors, 1 Chinese the other Arab. Every property with a water view has gone up at least 100K in last 4 months, crazy. Friends apartment was around 470K 5 years ago now on market 735K!
 

SilverHood

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That must be so depressing. I can also believe it is a common occurrence in big cities.

In the USA, real estate investment trusts (REITS) are buying up a lot of the available real estate and turning it into huge rental empires. Even before covid, prices were nuts, but it's hard to compete with funds paying cash up front no questions asked.
 

Embattle

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I vaguely remember some articles when Battersea Power Station was being redeveloped a lot of the investment and sales where being driven by foreign owners.
 

DaGaffer

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I take it the housing market there is working about as well as the graphics card market:

View: https://twitter.com/ruthlessimagery/status/1389155836770009090


@DaGaffer
Yeah, I was only listening to a news story about it this morning; funds have been buying up property in Dublin for the last few years but now they're heading out into to the sticks; a new estate in Maynooth (commuter Town about 50 miles from Dublin), 150 houses went on sale over the weekend and 135 were bought by a fund.

Loads of ranting about it, and suggestions of an outright ban on the practice (as in Germany), but nothing will come of it
 

Wij

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What's happening in the other cities in Ireland?
 

DaGaffer

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What's happening in the other cities in Ireland?
Its not quite as bad as Dublin, but the housing crisis has been gathering speed for over a decade, which is why all these funds piled in, there's been a massive shortage of rental property for years.

I am quite intruiged to see how this is all going to shake out post-covid though; the government is pushing through legislation and investment to enshrine remote working, which might take some of the pressure off the cities. There's a hope this could revitalise rural Ireland, although I'm not sure it will be that transformative; people like living in cities for reasons other than work.
 

Wij

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Always fancied Galway when I stop working.
 

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