Hillybilly

Hi from Spain!
About 7 years ago I was considering a move to Ireland but dithered and sort of got priced out of the housing market. Over the intervening years I have perused Irish estate agents' etc websites on and off (i.e. a couple of times a year) and have seen only upwards price changes...until today.
Looking at property.ie it now seems to me that (some) house prices are, at last, at a more realistic level? Am I correct in this conclusion? Has it now become a bit like Spain, where many people (with half-renovated properties for example) are desperate to sell up, almost at any price? Comments/observations from those on the ground over there would be welcome!
Salud!

DiggerBarnes

Yes, very much like Spain, house prices have plummetted in Ireland because too many were built and the house price bubble has burst. House prices have now fallen about 40 to 50% from what they were at the peak in 2007. There are 1,000's of unsold properties on new estates and unfinished estates known as "ghost estates".

When you are looking at asking property prices on websites you have to remember that some of these properties may have been on sale for over a year and have not sold because the asking price is too high. Many sellers are in denial but if they really want to shift their properties they will have to reduce the asking price by about 25 to 35%.

You can get alot of information on this site:

www.thepropertypin.ie

You can see the increase in availability of both property for sale and for rent on the "daft" site (www.daft.ie) by using the interactive graphs in the following site:

http://daftwatch.thepropertypin.com/

Now is propably not a good time to buy either because prices are likely to continue to fall for at least another 18 months.

michaleen oge

one mans curse is anothers fortune.(i just made that up). i hope the property crash continues for some time in ireland. i have been wanting to come home for years now and have not been able to afford it due to the silly prices being asked for houses.
my grannies old terraced house in smiths villas,york road,dun laoghaire was on the market some years ago for something like 250,000 quid(or euros,forget how long ago). now in my day that area was a bit rough,most of my relatives lived(some still)around there. i lived in monkstown farm for some years and the houses there were very pricey again. my ma's house is still on the council(brother lives there now) and lord knows how much it is worth. again in the 60's and 70's a bit of a rough area.
still i am looking forward to moving back to gods country and hopefully it will be soon. there is a pigeon looking in at me and it has a terrible look in its eye,so i am off. ole.

Hillybilly

Thanks both. LOL re the pigeon!

michaleen oge

it was DEELICIOUS!!!!!!!

Londonuck

Thought you'd prefer a Blackrook.


*cough*

michaleen oge

ouch, which is what the pigeon said when i grabbed him by the back feathers!!when i said pigeon,i was mistaken, it was a giant vulture. honest.
we are so high up here that they are like house pets. the clouds are below my house!!
the other day i was looking over the back of the terrace and saw a little fella with fluffy wings and a harp. told him to bugger off, can't stand harp music.ole.

dgjamison

Yes absolutely, what happened with Ireland mostly the south, they had the celtic tiger for years, and the government became arrogant with it (the bubble was never going to burst) and nothing was put aside for the bad times:.It became known as rip of Ireland, one of the most expensive countries in the world to live. I also saw an arrogance with some of the people which was not nice so the lovely Irish hospitality went by the wayside a bit. If the tourist have slowed down they deserve it as they ripped them off for years. The west of ireland and the northwest did not have the same mentality and are lovely people who are truely welcoming and helpful, and likewise some of the smaller villages in cork. So now it has become like Spain, people feel trapped with their properties and some unfortunatley need to get out at any price, these are the people I truely feel sorry for, they were duped by the banks and governments allowed 110% mortgages (shamefull Britain as well), so I dare say you would get a bargain now in the south

chatterboxmoira

I'm just glad we brought a traditional cottage. They have lost very little value. However there is such disparity between similar houses, sometimes with the same estate agent, it's hard to know what your house is worth. As my OH keeps telling me "it's worth what someone wants to pay for it".

Will only worry when I'm ready to put it on hte market.

michaleen oge

too true,too true. been looking at some properties in the west of ireland,via the daft website,and one of the favourites i have been tracking differs by 35,000 euros between agents.
my casa in spain is up for sale with about 30 agents,and with 30 prices!!!!! over here they ask you what you want in your hand,then they put their commission on top. one of them is charging 12,000 euros at the top end,and at the bottom end one is charging only 3500 euros. now that is a lot of money for doing practically nothing.
my next move is going to be my last(i have said that eight times now!!) so i have to get it right.