Gli acquirenti stranieri in contanti si accaparrano appartamenti a buon mercato che i primi acquirenti non possono ottenere a causa di difetti
https://www.irishtimes.com/ireland/housing-planning/2024/09/25/overseas-cash-buyers-snap-up-bargain-apartments-that-first-time-buyers-cant-get-because-of-defects/?utm_source=Newsletter&utm_medium=email&utm_content=Overseas%20cash%20buyers%20snap%20up%20bargain%20apartments%20that%20first-time%20buyers%20can%20t%20get%20because%20of%20defects&utm_campaign=morning_briefing_digest
di MrStarGazer09
7 commenti
Vote Fine Gael!
“Prospective home purchasers are losing out to cash buyers – mostly overseas investors – on apartments with defects, ranging from minor issues to hazardous faults, because banks will not risk lending to buy them.
An investigation by The Irish Times has found that mortgage-approved buyers are unable to buy second-hand apartments that require remediation works – in some cases as simple as replacing out-of-date fire alarms – as banks are unwilling to lend on them due to uncertainty around a Government scheme to fix them.
Estate agents have said apartments built between 1991 and 2013 found not to be compliant with fire regulations or identified as having defects are being sold exclusively to cash buyers who have factored in potential future remediation costs, and can buy the apartments at reduced prices due to fewer buyers.
Once remediated, the number of apartments potentially available to buyers could run well into the thousands given that applications have been made for more than 17,000 apartments under the scheme.”
The Government has promised to introduce a €2.5 billion remediation scheme to fix up to 100,000 defective Celtic Tiger-era apartment blocks but it is not expected to become operational until next year.
In the meantime, defective apartments are being snapped up as overseas investors pay cash for the properties for the rental income or to own for several years to provide accommodation for their children attending Irish universities.”
I’ve said it before, and I’ll say it again. Given the state of the housing market, there’s a serious case to be made for restricting non-EU buyers unless they are resident here.
Why the fuck would anyone want to mortgage themselves to an apartment that has defects
People get that this is just a press release from estate agents right? Basically just reproduced by the Irish Times.
The aim is to pressure the government to cover more apartments in a remediation scheme and do so sooner.
The primary beneficiaries of that are those who currently own such apartments and want to sell them. The secondary beneficiaries are the agents who take a cut. The banks also benefit from a government guarantee that will reduce their risk and so allow more lending.
Those buying won’t benefit at all. They want to buy these apartments because they are cheaper. They are cheaper because they can only sell to cash buyers. If you made them open to those financing though a mortgage the price would just rise to meet the market price.
Landholders and those working for them are great at getting the media to parrot their “don’t hit me with the first time buyer in my arms” line.
Can we legislate that all apartments/houses must be sold to individuals who plan on making the apartment/house their primary home?
If it hasn’t sold within a certain time frame (4 months etc) it can then be open to everyone Inc. speculators/investors etc.
How can we expect to fix a housing crisis when people (who aren’t even in the fucking country!) are buying up everything!!??!!
Capitalism on speed.
We are going back to absentee landlords. Property should only be owned by people who are in the country.
Step 1. Buy cheap apartment that not up to code.
Step 2. Rent defective apartment out to Irish person at an exorbitant price.
Step 3. Profit