Real estate is the next big thing in Ireland.
The world’s fastest-growing asset class has emerged from the ashes of the financial crisis, and is now one of the biggest earners in the country.
But are the people of Ireland buying?
The Irish Housing Association is asking the public for help in the hope that it will be able to help those struggling to make ends meet in the years ahead.
Real estate is a very complex industry, and it is a global industry, said Mary Higgins O’Connor, chairperson of the organisation, who is also a member of the Cabinet Office.
We have to be realistic about what the market will do to real estate prices, and that is when we will have a better understanding of what the people who are looking at buying will be willing to pay for that type of investment, she said.
“We’re not looking for a return on investment.
We’re looking for the right type of investor.
We want them to be prepared for the risk.
We don’t want them in a position where they are spending their money on property they don’t need, or a property they think is overvalued,” she said, adding that people looking to buy a property should be prepared to pay at least €10,000.
In addition to that, she is urging people to look at property as an investment, not a means to an end, which means they should consider a wider range of factors including a property’s size, location and its value.
“The key is to be honest about what you are looking for.
We are trying to make sure that the public understands what is going on.
We need to know what the demand is for this type of property, and what kind of price is the market going to accept,” she added.
Realtors and developers have been quick to respond to the crisis, saying they are being inundated with enquiries about the property boom, with the latest figures showing the number of applications to buy properties has increased by almost 40 per cent in the past 12 months.
But there are signs that the realtors are not always the best choice.
In January, an online auction for a four-bedroom property in Dublin’s Rathmines property market was cancelled by the realtor who put it up.
A few weeks later, another online property listing was put up for sale in Limerick.
And in May, a property listing for a one-bedroom flat in Dublin was put on the market after a person asked for more than €2,000 to sell it.
A spokesman for the Irish Housing Associations said: “People have been asking for more information and information is being sought.
We hope to provide more information as soon as possible.”
There are lots of different factors that people can look at when looking at a property including the type of location and the type and the size of the house.
“Realtor Patrick McAlpine, who was involved in a similar bidding war for the two properties, said he was hoping for a good outcome.
He said the demand was there for this kind of property.”
I am not saying the market has been flooded.
But it has been a little bit of a bit of an uphill battle.
We have seen people looking at other properties that have gone up in value in a couple of years.
We’ve had some people saying they will take on a smaller, cheaper property and that was just because it’s easier to put up.
It’s a bit like a market where people are bidding on what they are willing to spend on the property,” he said.
But Mr McAlpine said he has had “many people say ‘Oh, well, I will buy a smaller house and sell it for €100,000′”.
He said it was important that the people looking for new homes understand that it is an investment and not a ‘purchase’.”
You need to look beyond the value of the property to the price of the home.
If the property is overpriced, the buyer should be looking at what you can afford to pay,” he added.