Property prices.......

[Cooldude]

property prices will stabilse at about 70 thousand euro or 50 thousand irish pound

why difference well depending on whether we leave the euro no matter
house holders those who still have a job can look forward to a host of charges including

water taxes of 600 a year
property tax of 1000 a year
however the tax on selling house or buying one will be gone to encourage property selling and buying
increased taxes
increased charges
big cuts in the dole especially in those who are eligable living at home
increased taxes on diesel petrol
more toles on the roads

A lot more companies will close rules and regulations force companies to spend money so
cuts will come in staff working conditions.

[dublin24]

I'm afraid the worst is yet to come, when all those people who are behind with their mortages, are out of whatever moratoriums the regulator has in place, there will thousands of re-possesions and forced sales and then watch prices drop.

At the moment the banks are not interested in foreclosing because the property is unlikely to be sold at a price that would clear the capitol lent and the bank would also have a cost to maintain the building. But at the first sign of prices increasing the number of forecloseures will be huge.

[dublin24]

I think 5 years is an optimistic forecast, you could be looking at maybe 10-15 years before there is any kind of discernible turn around. Using Japan for comparison purposes. And considering Ireland have next to nothing in natural resources, little infrastructure, and ruling junta to rival anything in a third world country, wellllll it could even be longer. But look on the bright side, no wait, you can't even do that the sun rarely shines.
Eire est puteus quod verum perfututum.

Very well said
but
"Eire est puteus quod verum perfututum" WTF dose that mean?

[Paddii]

Very well said
but
"Eire est puteus quod verum perfututum" WTF dose that mean?

Ireland is in a hole and is indeed fucked (I think)

[luther]

property prices will stabilse at about 70 thousand euro or 50 thousand irish pound

You mean national average house price???

And do you mean they will stabilize at that or just dip to a low of that???

Personally I don't think it will go that low in either case.......

[anon361]

I have seen 2 properties on the market in recent months for €80k in a Navan estate that were selling for 200k+ during the boom, both were quickly sold!

[luther]

I have seen 2 properties on the market in recent months for €80k in a Navan estate that were selling for 200k+ during the boom, both were quickly sold!

You bet your ass that were. I'd say the neighbours that paid €200k+ were pissed off.....

There are cases around the country like this going on where people paid large prices for houses in estates only to see many houses lying idle afterwards and then being sold for a much lower price that the original buyers paid. Some are trying to make a claim against the builder/developer..........

[Violette]

It means Ireland is indeed well and truly fucked.

[Paddii]

Ireland is in a hole and is indeed fucked (I think)

correction: Ireland is a hole which is indeed fucked

[carlos marvado]

You bet your ass that were. I'd say the neighbours that paid 200k+ were pissed off....

as are the lads who paid €150 for what they can now get for €80 to €100.