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Old 24.08.2011, 19:14
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Property in Ireland

With the irish property market down 50% from 2007 is anyone taking advantage of the offers or planning to? Pro's and cons for discussion?
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Old 24.08.2011, 19:16
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Re: Property in Ireland

Not for a second....it seems to me that it was massively overvalued and it is now down at appropriate levels. I don't see a single piece of evidence that will rise at any pace any time soon.

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Old 25.08.2011, 14:46
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Re: Property in Ireland

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With the irish property market down 50% from 2007 is anyone taking advantage of the offers or planning to? Pro's and cons for discussion?
I moved out from Ireland last year because of the economic recession. I think it's still not the right time for an investment there (and who knows if will ever be).

Prices will still go down, friends on the west coast are reporting around 50% new houses still unsold, and you wouldn't probably rent it out easily as companies are closing and relocating elsewhere.
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Old 25.08.2011, 16:44
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Re: Property in Ireland

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With the irish property market down 50% from 2007 is anyone taking advantage of the offers or planning to? Pro's and cons for discussion?
Youve got the right idea, but the problem is the government has taken over much of the bad bank debts. Its not politically feasible to have a fast liquidation of property in the country. It is certainly moving faster than Spain but until one of these PIGS goes bust Id hold off.

Once you see interest rate spreads blow out and Ireland looking to re-negotiate their government debts that will be time to buy. The banks will have to dump property then. But for now it looks like its going to get dragged on, like the last time all the European countries were bankrupt: 1918 to 1931
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Old 25.08.2011, 16:55
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Re: Property in Ireland

Oh good, maybe by that time i'll be ready to buy!

Last edited by JustRose; 25.08.2011 at 16:55. Reason: typo
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Old 25.08.2011, 17:05
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Re: Property in Ireland

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Oh good, maybe by that time i'll be ready to buy!
Well it doesnt hurt to look in the mean time, just incase the house of your dreams is available. But on a large macro picture I cant see prices rising for some time.
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Old 01.09.2011, 11:33
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Re: Property in Ireland

Can't afford to look now but hopefully prices either continue to drop or stay low for a couple of years!
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Old 01.09.2011, 12:36
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Re: Property in Ireland

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Can't afford to look now but hopefully prices either continue to drop or stay low for a couple of years!
I lived in Ireland up until several years ago and saw the oncoming train wreck that is now the irish economy. In my opinion, not much will change in the next few years except for things getting worse. As one poster mentioned, the fact that there was no 'liquidation' and a thorough cleaning out of the system, pretty much guarantees it in my book and in fact you should be even more cautious of 'false starts'. So you will have plenty of time to save, research the market etc. Lots of luck
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