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plummeting_prices

Property In Ireland A Good Investment!

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I've just read on one of the Irish property forums about a man asking for advice on where in Dublin is best to buy a BTL property. You'll not believe the response:

there was a radio programme last week, where one of the guests suggested that any property in the €3/5M bracket is good value for investment. This based on the fact that divorce is on the rise and none of the spouses want to downsize, so a second house must be bought!

Now, at the €3/5 million bracket considering the VERY LOW Irish interest rates of 3.4%, you would need to charge €8,500 - €14,100 per month just to cover the interest.

Sounds a bit of dodgy advice to me but then again, I suppose that €5,000,000 house is going to be worth €20,000,000 in 3-5 years - Ideal for an FTB on a salary of €5,700,000 per annum. After all, that is only a 3.5 salary multiple :lol:

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As any Irish investor can demonstrate:

Rent income of 10k, rates 5%, property price, 10/5x100=200k

Rent income of 10k, rates 1%, property price 10/1x100=1000k

Amazing, isn't it.

And when rates hit 0, prices will go up into infinity.

Astonishing levels of stupidity reign in an economic bubble.

Ireland certainly holds this crown.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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