Wednesday, Nov 14, 2007
Massive rental shortfall on Ireland's BTL nightmare
RTE News: Irish banking system robust - Hurley
"By the middle of this year, investors faced a 36% shortfall between their annual rental income and their annual mortgage repayments on new houses. This is a significant deterioration since 2005 when it was just a 16% shortfall. It added that the rental shortfall for those investing in second hand houses is more pronounced at 43%."
This is against a background of BTL surging to 26.1% of outstanding mortgages up from 16.7% in 2006 !!! And now prices are falling ..... OUCH !!!!!
Numbers are from Irish Central Bank so no vested interest..just the facts.
Posted by genie @ 12:11 PM (196 views) Add Comment
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