FSW WORLDWIDE

[ElvisRamaj]

Just to add, when there was a housing crash in Ireland. You were able to buy the whole estate with the houses that were not finished inside for about 500k EUR - roughly about 50 houses. I was living on one of those estates. The company bought the whole site for 480K EUR, they have finished houses inside and they ahve rented each house for about 1k a month. This was 50k a month just of rent. They had their own maintenance supplied for the houses at the same time so their cost were reduced to bear minimum.

Well, I think it is about time you guys stand up !

If that keeps going on, you will be very soon called modern slaves in your own country.

 

[dxdroid]

Well, I think it is about time you guys stand up !

If that keeps going on, you will be very soon called modern slaves in your own country.

It is already happening. The weird thing is what government is doing. From this year onwards if you a couple or single there is some cut of of what you can earn and government will pay some % towards your rent. However this is not the solution towards the problem. They have proposed some crazy funny legislation by saying that the new investors when they will eb buying the whole estate they need to leave 8% or 10% of houses available to the general public to be able to buy. This is a joke as the prices will go even higher. When I was buying my own house, I was already being outbid in several occasions. One of my friends was trying to buy a house in the same estate where I live. Price started of from 175k it finished ay 225k. My house cost me 165k, if I would sell it now. I would easily get 230k for it. I know the increase does not seem to be soo high but taking into consideration most of people wages here and their affordability it is a huge increase. It is normal now in Ireland to see normal 4 bed houses going for 500/600/700/800/900K EUR

 

[Deleted member 1050918]

I am not sayign that foreigners should be fully blocked to buy a land

I AM saying that foreigners should not be allowed to buy land. That's not the full solution but it's a good start.

 

[ElvisRamaj]

It is already happening. The weird thing is what government is doing. From this year onwards if you a couple or single there is some cut of of what you can earn and government will pay some % towards your rent. However this is not the solution towards the problem. They have proposed some crazy funny legislation by saying that the new investors when they will eb buying the whole estate they need to leave 8% or 10% of houses available to the general public to be able to buy. This is a joke as the prices will go even higher. When I was buying my own house, I was already being outbid in several occasions. One of my friends was trying to buy a house in the same estate where I live. Price started of from 175k it finished ay 225k. My house cost me 165k, if I would sell it now. I would easily get 230k for it. I know the increase does not seem to be soo high but taking into consideration most of people wages here and their affordability it is a huge increase. It is normal now in Ireland to see normal 4 bed houses going for 500/600/700/800/900K EUR

Its mind boggling to know how on earth does a government of any country allow companies to purchase resident houses ?

Why on earth would you allow it, it destroys the whole estate market.

I know one thing for sure, the next political guy running who will pinpoint the problem and offer the solution to abolish completely the ability for companies or investors to buy resident houses, will win by a landslide almost everywhere in the western countries.

 

[dxdroid]

I AM saying that foreigners should not be allowed to buy land. That's not the full solution but it's a good start.

This is only a half of the solution. What is happening in Ireland is actually similar. We have a crazy demand for rental properties so they market has attracted a lot of investors that are buying off the whole new estates. There is a high possibility that exactly same thing will start happening in Canada.

 

[dxdroid]

Its mind boggling to know how on earth does a government of any country allow companies to purchase resident houses ?

Why on earth would you allow it, it destroys the whole estate market.

I know one thing for sure, the next political guy running who will pinpoint the problem and offer the solution to abolish completely the ability for companies or investors to buy resident houses, will win by a landslide almost everywhere in the western countries.

Yes and no. Think about it. Whoever is in government making these type of laws is also making a crazy money of that. The market and banking system is soo broken in EU that if you do not have a lot of cash simply you cannot really enter the housing market for rental. Requirements from the banks are very steep.

 

[Deleted member 1050918]

This is only a half of the solution. What is happening in Ireland is actually similar. We have a crazy demand for rental properties so they market has attracted a lot of investors that are buying off the whole new estates. There is a high possibility that exactly same thing will start happening in Canada.

I gave the full solution here before, too lazy to go back but it was something like this:

1. Foreigners shouldn't be allowed to buy land or property. If they're renting, the govt should ask for an annual report outlining the foreigners' use of the rental place.
2. Any land owner must build property (house or other) on their land.
3. Any home owner must rent their property unless they're living in it themselves.

 

[dxdroid]

I gave the full solution here before, too lazy to go back but it was something like this:

1. Foreigners shouldn't be allowed to buy land or property.
2. Any land owner must build property (house or other) on their land.
3. Any home owner must rent their property unless they're living in it themselves.

I fully support this. There is one more really funny and f**** up law for residential properties in Ireland. We have something what is called "pressured zone" - this means that rent can only go up 2% or 4% every year or two, something like that. So what landlords started doing, they started terminating the contracts with renters. There is a gap in the law which allows this. If landlord will "renovate" the condo/apartment or house - in theory this should be something more than just repainting - then they can request to raise the rent to the current "standards" in the particular region. Current renters are first in the queue if they will agree to pay the new rent price. The other option is that they will say that they are selling the property or one of their family members is moving in. You will be surprised how this law is abused.

 

[Deleted member 1050918]

You will be surprised how this law is abused.

I can imagine. Western nations are bound to lose their hard earned values and lands to the Chinese unless they stop literally selling their lands to them.

 

[dxdroid]

I can imagine. Western nations are bound to lose their hard earned values and lands to the Chinese unless they stop literally selling their lands to them.

It is not just Chinese but yea I agree. There is a really really bad trend of selling things to China. It is faster than shops are selling donuts every morning hahahha

 

[Windsor37]

I gave the full solution here before, too lazy to go back but it was something like this:

1. Foreigners shouldn't be allowed to buy land or property. If they're renting, the govt should ask for an annual report outlining the foreigners' use of the rental place.
2. Any land owner must build property (house or other) on their land.
3. Any home owner must rent their property unless they're living in it themselves.

Actually even #1 only could work, in the Philippines, land can only be owned by Filipinos, or corporations that has at least 60% Filipino ownership. There are even some indigenous areas in the Philippines where only the locals there can purchase land there, so even if you're Filipino unless you married into their community or can proof your lineage you're out of luck.

As I remember the land prices in the areas near Metro Manila hasn't yet ballooned to unfathomable prices, and in the less developed areas practically have stagnant pricing. Only the luxury or premium villages inside the Metro are truly subject to the high inflation rates.

 

[dxdroid]

Actually even #1 only could work, in the Philippines, land can only be owned by Filipinos, or corporations that has at least 60% Filipino ownership. There are even some indigenous areas in the Philippines where only the locals there can purchase land there, so even if you're Filipino unless you married into their community or can proof your lineage you're out of luck.

As I remember the land prices in the areas near Metro Manila hasn't yet ballooned to unfathomable prices, and in the less developed areas practically have stagnant pricing. Only the luxury or premium villages inside the Metro are truly subject to the high inflation rates.

The problem that I think we have are people who are ruling the country and making new laws. Think about it. If they would not have a profit or business in this they would block it and make people more happy within the country. There is a saying in Poland - "If you do not know what the problem is about, it is about the money"

 

[Windsor37]

I fully support this. There is one more really funny and f**** up law for residential properties in Ireland. We have something what is called "pressured zone" - this means that rent can only go up 2% or 4% every year or two, something like that. So what landlords started doing, they started terminating the contracts with renters. There is a gap in the law which allows this. If landlord will "renovate" the condo/apartment or house - in theory this should be something more than just repainting - then they can request to raise the rent to the current "standards" in the particular region. Current renters are first in the queue if they will agree to pay the new rent price. The other option is that they will say that they are selling the property or one of their family members is moving in. You will be surprised how this law is abused.

Can the landlord unilaterally terminate a contract? My understanding is that unless it's totally unlivable or has a health hazard, they can't per-terminate the contract. They can however decide not to extend the contract.

 

[dxdroid]

Can the landlord unilaterally terminate a contract? My understanding is that unless it's totally unlivable or has a health hazard, they can't per-terminate the contract. They can however decide not to extend the contract.

I think I said that in a wrong way. If landlord is saying that he will renovate the property, family member is moving in or they are selling a property then they can terminate the contract if:
1)If landlord is saying that he will renovate the property
You need to agree at the new rent cost. You are first in queue to still live in the place if not then you have to go

2) family member is moving in or they are selling a property then they can terminate
you have X amount of termination notice depending how long you were living at this property.

There is a lot loop holes that they can use to get rid of you ASAP.

We also have an agency which is called (Tenancy Bord Agency) or something like that. They are looking after tenants and they are actually good but some times their hand are also tighten.

 

[dankboi]

I AM saying that foreigners should not be allowed to buy land. That's not the full solution but it's a good start.

foreigners with no intent of settling in canada should not be allowed to buy land.