How are Irish property investors faring?

How are Irish property investors faring?

How do you think property investors are coping at present and will further bills such as the property tax push them over the edge?

There are plenty of headlines about arrears, about buy to let investors who will now be chased down as part of the new Central Bank ‘targeting’ scheme and about people in various stages of financial difficulty, but what do we really know about the people behind the numbers?

Today is your chance to help change that, Karl Deeter from Irish Mortgage Brokers, Brian Lucey of Trinity College and Marie Hunt from CBRE have put together an online survey for people who bought investment properties and we thought it would be a great idea to share it with our readers, they are hoping to get a large response which will help them gain some insight into the people who bought investment property.

The online survey is totally anonymous and will take less than 90 seconds to complete. You can find it here:

Click here for the online survey

What they are hoping to do is to get a better read on investors, see what type of risk takers they consider themselves to be and find out more about their experience as a property investor.

When the final survey is completed we’ll be covering the results here, but first, follow the link above and fill in the survey, it will help all of us understand the world of property a little more!

Have your say….

  • Do you think property investors were reckless or didn’t understand the risk they were taking?
  • Would you invest in property in 2013?
  • Do you think banks should chase after landlords with far less consideration than they do for regular homeowners who are struggling? 
There are 12 comments for this article
  1. Dana at 8:18 am

    There are definitely a whole lot of details like that to take into consideration. That is a nice point to convey up. I provide the thoughts above as general inspiration however clearly there are questions like the one you convey up the place crucial factor can be working in trustworthy good faith.

  2. jac at 10:27 pm

    Owen,
    I will join you if we can contact each other but I can’t display my email here.

    Taxes, artificial rent set by the department of social welfare and all the onerous regulation set by the Government is killing the Market.
    Investor subsidising the government housing responsibility are treated like pariah.
    It is unfair

  3. Frank Bodley at 8:22 pm

    Owen I am a bit like you..I believe it was a combination of Government Policy,availability of money by the banks to developers, availability of the Bond holders to lash money into the Banks, inadequacy of fiscal control by the Central banks that caused property values to rise to the extent that people felt if we don’t buy now we will never be able to afford a house. The poor person buying got mortgages of 11 time upwards of his gross salary which further drove up prices. It was the availability of this money that ‘drove’ people to buy.
    I was one of them. I was careful not to get greedy, believing I would offload at various stages reducing my mortgages to zero but the bubble burst as Banks burst and the domino effect followed, so Owen and I got caught in the middle, I bought one house for tax reasons as a holiday home, a second for a retired priest (now in negative equity), another as in investment for my over 70 age (sold) another to help my daughter on the property rung. I am paying interest only on all 3. These are going to last forever unless I can offload them if ever the market comes back and the Bank are patient to wait

  4. Magdalina at 3:22 pm

    Dear Madam / Sir,
    Some time ago, by your company, I placed an ad. I want to sell a plot of land, 3500 sqm, located in Romania, located 3 km from Bran Castle, Dracula Castle. The scenery is magnificent, the field can be built a vacation home, or commercial warehouse. Price is 30 euro / sqm. I’d be happy to help me with this announcement, God help you.

  5. Tom English at 3:00 pm

    A lot Of investors took advice from professionals who they trusted, once upon a time professionals were proud of there reputation , bank loan officials and managers advised people to borrow much more than they should have because their bonus was based on the amount they loaned rather than on the quality of the loan , solicitors and accountants went along with because they were making out it , the dept of finance actively and recklessy encouraged people to borrow and buy with various untargeted incentives , these are the investors that are introuble ,the more astute investors that relied on their own good council are fairing much better. I was buying a tax incentive property in 2006 , I had the money for the stamp duty and fit out, the bank manager tried to convince me not to use my own money and to borrow everything , I foolishly let him convince me to borrow the stamp duty money, and I paid for the fit out from my own funds, the morning the cheque was being issued he rang me and offered me a further 50000 e loan and when I said I did not want it he offeredt to increase it to 75000e or even 100000e if I wanted it. This is the type of unregulated banking that helped to get us to where we are

  6. Paddy at 1:53 pm

    Had a look at the survey but could not complete it as there is no way for someone who purchased for cash and sold at a profit in 2006 to input this information.

  7. owen at 1:40 pm

    For my part I borrowed sensible and overall am not in negative equity. However I do find that as a result taxes, charges, artifically low rents set by the councils etc I have cash flow problems. I do have arrears, and am trying to handle them. I suggest that the artifical rents set by the local authorities is unconstitutional, and these should be investigated. THe Madigan decision sets out the the criteria of forcing private landlords to finance tenants in neeed of housing. I also think that a full report dealing with the impositions on landlords should be prepared. I was certainly not reckless, and, in fact, I was very conservative. Repossessing propertys will only worsen the position over all. Any one want to join me in preparing such a report ??

  8. noel at 12:50 pm

    Re : All Balls and No Brain Brigade.
    They are in every town in ireland.
    Paddy your 100% correct, but with politicians based on self preservation ( me me ming etc) the tax payer will foot the bill.

  9. Aidan McGrath at 12:14 pm

    There is a lot of young people who bought in the boom time who have out grown their homes and apartments and are in negative equity as a result of this. They now can’t sell these homes so have had to rent them out in order to purchase a new home or rent somewhere else. They are now going to be caught up in this mess and will be taking it from all angles as a result. Something should be put in place to protect this generation as they are already carrying their fair share of the burden they had nothing to do with creating.

  10. Paddy at 10:32 am

    All investments carry risk. Buy to let investors have no more right to special consideration than investors in any other venture, you pay your money, and your take your chances. If bad decisions by those who invested in property are to be compensated by the taxpayer, then why not compensate all those who invested in the stock market and lost or those who bought gold at peak and lost. It is truly sickening to see the attempts of the braggarts who a few short years ago boasted of their ‘property portfolio’ and how clever they were making money without working now attempt to make others pay for their losses.
    Also, do not forget that these investors distorted the market forcing families who wished to own their home to incur crippling 35-year mortgages far in excess of the true value of their property. In summary, I have no sympathy for whinging buy to let investors.

  11. Javed Munir at 10:30 am

    The property investors were reckless.They understood the risk as they bought the properties which in their minds they knew that they are not worth it.I wouldn’t invest in Ireland as the builders and polititions are dishonest.
    The banks should go after the builders who borrowed money and the banks should go after their employees who organised their loans knowing that the property they are buying is not worth that price.

  12. Simon Oliver at 10:26 am

    There are a number of Irish property investors who have taken the ‘lifestyle change’ route and have invested in income-generating properties in France. Usually taking the form of a main house and a couple of letting properties in the grounds, this sort of business can bring in enough to cover costs and a big chunk of the mortgage. And you get to live in a property that you could never afford in Ireland … with a pool!

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