Irish housing shortages are plaguing buyers and sellers

Philip Slattery, a 35-year-old accountant living outside Dublin, has been looking for a home for three years, first alone, then with a friend and three children in the family.

The decline in housing prices in their area has led to a rise in prices, with property often going up to € 20,000 or € 30,000 at the asking price – the highest price given Price for sale in Dublin about € 396,000.

“I think I should win the Lotto,” Slattery said of his chances of owning a home.

Damage has been a prominent feature of the Irish stock market for many years, most notably in the explosion period of 2000-2010, when prices rose and suffered severe damage at the risk that followed.

Now the country is in the midst of a crisis of some kind.

Ireland expects to build 21,000 homes and homes this year, such as difficult mortgages, plus delays caused by coronavirus, forcing the availability of more than 90,000 homes a year built in peak housing in 2006.

The result is missing accommodation that lasts for years from a one-bedroom apartment in downtown Dublin to families close to the states. In the meantime, until their chances change, Slattery stays with her parents and friend and the children stay with them.

Current developments are far from the financial days of the mid-2000s, which reverted to the 2008 financial crisis, says Dermot O’Leary, chief financial officer at Goodbody, a stockbroker.

Today, mortgage lending leaves consumers with a “very low budget… Does not exclude a large group of people from buying a home,” he said. it would be difficult for them to increase the output to 35,000 units per year that the market needs.

In the suburbs of Dublin, housing shortages have not been helped by the US Treasury, Round Hill Capital, which in April raised 135 homes out of 170 homes for sale. It was the last straw for all people, the government and many families, families and individuals who are struggling to find decent housing.

In practice, the governing body responded by setting up a 10% stake stamp for each buyer of 10 or more 12-month homes.

Ministry of Finance He said this could lead to “significant disruption” for investors who “meet first-time buyers with the opportunity to buy a home”.

Whether or not this is the best solution to this problem remains an open question and a controversial political issue. “You had a problem with the news on another topic, within two weeks you had set the point. This is not how house rules should work,” O’Leary said.

This problem is not unique to Ireland. In Germany, food shortages and high rents have turned homes into one of Berlin’s most controversial issues, as we have seen recently. Vonovia, The owner of the largest house in Germany, plus one in 18bn.

To help with the fight against politics, the companies offered to sell the offices to local authorities without any fines, offer to pay rent, and build more homes.

Meanwhile, the Irish real estate market is in turmoil, says Andrea Whelan, a Dublin real estate agent and Sherry FitzGerald.

He also said that he had “never had a strong stockpile of buyers and ready to go shopping” during his 23 years in business, but the attitude among them was “worrying… Frustrating”.

The Dublin by-elections in Bay South on July 8 give politicians even more encouragement to think about the issue.

Prices are very high for Fine Gael, the third largest party in parliament and the second in a coalition government, which could lose its seat in voting.

Ireland’s education minister Simon Harris and chief electoral officer for the Fine Gael party in Dublin Bay South, said it was “very important” for the government to take action on the housing market.

Left Sinn Féin, the main opposition party and second largest party in Ireland’s parliament, says the government needs to do more, including raising taxes for retailers and more affordable housing.

“If you believe that these elections are an opportunity to give a message to the government. . . so let this election be a referendum on our housing failure, “said Eoin Ó Broin, chief of elections at Sinn Féin in Dublin Bay South.

One question is whether the money to buy stamps to pay for the purchase of more homes can be extended to apartments, a sector that international financial institutions often occupy, accounting for about one-fifth of sales in 2018.

“The only people who build houses are people who are supported by the capital,” according to an official at a large real estate company.

If so, the prospect of the government continuing to do so is staggering to the cost of selling and building houses in the future.

Jim O’Callaghan, Dublin South Bay’s general election officer Fianna Fail, a major party in Ireland’s ruling coalition, said raising taxes to sell homes was what many parties wanted. “We can start this story again,” he said.