Join our investing community

Investing in property in Ireland

Discussion in 'Real Estate' started by LRL82, 13th Jan, 2011.

  1. LRL82

    LRL82 New Member

    Joined:
    13th Jan, 2011
    Posts:
    3
    Location:
    Townsville, Qld
    Hi everyone,

    New to this so just trying to get my head around things. Quick back ground, I'm Aussie in the mining industry, my partner is Irish also employed, we have no commitments & want to get ahead.
    We're considering investing in property in Ireland specifically Dublin CBD. Reason for this is as some may know the arse has fallen out of the Irish economy and house prices have fallen massively, so our thinking is now would be the time to pick up a bargain and the first place to recover in Ireland would be Dublin. With the rental return covering the mortgage and us putting money into it as well the equity should steadily build up.

    Any help or advice would be really appreciated!!!

    Thanks in advance:)
     
  2. wdongli

    wdongli Well-Known Member

    Joined:
    31st Mar, 2010
    Posts:
    1,292
    Location:
    Perth
    All of your concerns make sense in my view. GFC is a matter one for 70 years. It has pushed the price lower than its value greatly so the worst case is you buying case.

    All you need to concern are how to hold it for next 10 years or 15 years. If the sky is there you should get very reasonable return for an ordinary individual could get in his/her life. You have all of strategic advantage now.

    All of your challenge now shrink to the operational level. What tax of capital gain if you act as foreign investor in Ireland? How to manage your house or how to get a trustful agent to do the operational job? And so on. Don't worry if you could afford since if you want to work for the mortgage, you could work harder happily for a very good reason, the future financial independence. If the technical and operational matters could be managed, you should just have a go!

    If you put the money into the house in Dublin, it would be a Vital Few for your life. I feel within one year, there would be a lot of chances are there. Take the time to be right in some critical money matters of this Vital Few in your life.

    I came to Australia from Dublin in 1992 and I did feel the house price in Perth was ridiculous cheap then, just $83,000 per house, compared to any capital cities I had lived so I borrowed all for three houses. Not easy to hold them since no one really wanted to buy the houses for a few years until 2000 and I had to work for a full time job and a part time job for two years. Investment at last need to buy extremely cheap. If you could hold it for people to come back you would win out!

    Good luck and don't waste your senses which most of market players don't have. More thought in http://www.invested.com.au/blogs/
     
  3. LRL82

    LRL82 New Member

    Joined:
    13th Jan, 2011
    Posts:
    3
    Location:
    Townsville, Qld
    spoken with an financial advisor & he advised against it, saying the rate or return is too slow & not sure wheather we'd have to get finance in oz or ire. he didnt seem to really be interested in it, which was dissappointing because that was the only reason we went to see him. he had no idea about tax issues or anything. should I get a 2nd opinion:confused:
     
  4. wdongli

    wdongli Well-Known Member

    Joined:
    31st Mar, 2010
    Posts:
    1,292
    Location:
    Perth
    There are always some good and under-priced investment around us. Property investment is a life-time investment(at least when we buy we should think so) and should be right(in price, location, tax deduction from negative gearing).

    The return from the property investment after any crashes should be low for sometimes or perhaps for quite long time such as years, when the sellers should be more than buyers at first and the most of the market are indifferent later, at last people come back. However the tax and tax deduction is a matter must be there and 100% sure matters. Otherwise we could get too much pressure for our cash flow.

    Don't be upset by the different view from your adviser. Sit down and recheck everything for the long term profit! We don't need quick property investment; We do need the right, conscious, decisive, and affordable property investment.

    We need our first property investment exclusively right in future not now. We need to be right in capital gain, cash flow, and impact on our life style. Different views are the chances for us to open another angles to see what will happen. We need to use these new angles comprehensively and intelligently.
     
    Last edited by a moderator: 16th Mar, 2011
  5. AnnAway

    AnnAway New Member

    Joined:
    23rd Jun, 2011
    Posts:
    3
    Location:
    London
    Ireland is one of the poorest performing property markets in Europe. This pronouncement is evidenced by indicators of property related transactions. Increasing wealth, resulting from the Celtic Tiger boom years has pushed property prices up to one of the highest levels in Europe. Consequently, property in Ireland is not cheap. A recent International Monetary Fund study revealed that Irish house prices are overvalued by 10-20%.
    Economists believe that the property slump in Ireland is due to the lack of consumer trust in the property market. People are still not purchasing homes and investment, until they can finally determine the direction of the Irish property market.
    I am a London resident, so I recommend to buy property in the area where I live. If you are interested in the North West London property investments I hope this advice will be helpful for you.
    Good Luck
     
  6. Insight

    Insight Brisbane Buyers Agent

    Joined:
    24th Sep, 2006
    Posts:
    229
    Location:
    Brisbane
  7. AnnAway

    AnnAway New Member

    Joined:
    23rd Jun, 2011
    Posts:
    3
    Location:
    London
    They have an interesting weekly blog