En determinadas zonas de Irlanda los precios de las viviendas están cayendo hasta 10.000 € al mes (1.1.663.860 Pts).


http://www.independent.ie/national-n...h-1044153.html

By Edel Kennedy
Thursday July 26 2007


The value of average priced homes in some areas of the country is plummeting by €10,000 each month.


Estate agents last night confirmed that - despite recent concessions for first time buyers - there has been an alarming drop in house and apartment prices across the country over the past three months.


Experts say the drop is being fuelled by the growing number of homeowners who are selling their properties because they can no longer afford to meet mortgage repayments.

They are being forced to drop the price of their homes in a desperate bid to sell as nervous buyers continue to sit on the fence.

Industry sources have said after years of double digit growth, it is now "not unusual" to see the price of a home drop by €10,000 - or more - each month.

Fears

And they are privately expressing fears that sales will not pick up in September, when the buying season traditionally begins again.

Many investors who enjoyed meteoric equity rises a number of years ago are now finding the rental income no longer covers the mortgage because of recent interest rate hikes. (Euribor....alguien ?)

Those who borrowed the maximum amount in the past year to buy a home are also feeling the effects.

"Apartment owners are being hardest hit, particularly those on the outskirts of Dublin, because there is such a supply of them," said one estate agent, who did not wish to be named.

"Areas such as Lucan, Swords and Tallaght were seeing three-bed semis being built up until about five years ago, but that's history now. The investor isn't buying there now, and an owner/occupier isn't buying because they want a house."

He said investors have pulled out of the market, with some selling up, but he dismissed concerns of panic amongst investors as many own several properties.

People have been hard-hit by eight successive interest rate increases, with those who bought in the past year most vulnerable.

Many First Time Buyers (FTBs) also drew down 100pc mortgages, with others opting for a 40-year repayment term.

Although the government and many estate agents are denying there is any hint of a 'crash', the signs are indicating that prices are dropping dramatically.

One owner of a four-bed in Rathfarnham, south Dublin, has placed a sign outside his house saying it is 'reduced to sell'.

Although estate agents will privately tell prospective buyers whether the owners want a quick sale, it is unusual to state same on a sign outside the property.

It is understood the semi-detached house had an initial asking price of €800,000 and went sale agreed at €820,000. However, the sale fell through and the owner is now seeking a quick sale and is asking for €750,000 or 'anything near that'.

Apartment owners, particularly in the M50 and Dublin commuter belt areas, are also being hit.

One owner was shocked to discover the value of his two-bed apartment in Dublin 15 had dropped by €30,000 in three months. "I had it valued and they said it was worth €381,000 which I was very happy with because I bought it three years ago and it had increased significantly in value," he said.

"But in the past few weeks I've noticed a lot more properties in the area are on the market so I got another estate agent from a different branch to value it. She said I wouldn't get anything over €350,000.

"I was shocked it could drop in value by so much in just three months."

Sources have said the Permanent TSB/ESRI House Price Index - largely regarded as the most accurate gauge of house prices - is no longer reflecting what is happening in the market.

"The Index is saying prices have fallen by about 2 or 3pc so far this year. That's totally understating what is going on," said one auctioneer.

"Nobody wants to buy on the way down, everyone wants to buy at the bottom. But no one knows how long it will be till we get there."

He added that there are "very few transactions" happening at the moment and he doesn't expect the market to pick up again until early next year.

The government has abolished stamp duty for all FTBs but it has not reignited the market as expected. Finance Minister Brian Cowen is expected to increase mortgage interest relief in December's budget to help offset the increasing interest rates.

The eight rate increases, from a low of 2pc, means that a home owner with a €300,000 mortgage over 30 years has seen repayments shoot up by €280 a month, from €1,215 to €1,495.

- Edel Kennedy


Pero esto no ocurrirá en España chicos porque vamos a superar a Alemania en tres años más o menos. De hecho, China ya ha superado a Alemania, así que no es tan difícil....

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Claro, en España no hay ni primos ni subprimos y los avales lo pagan todo. Magia hipotecaria hispana, eso es lo que hay. Pronto España superará a China.

Pssss... no se lo digas a nadie: la vivienda es un valor que solo sube o se mantiene, nunca baja. Es el unico valor del mercado que te garantiza la inversion.

Me pregunto para que se necesita tanta universidad y master si es algo tan obvio. Un 20% me ha llegado a dar, y ahora ultimamente solo un 7% ... pero como mucho se para, yo mi dinero no lo pierdo, claro. JA! como lo voy a perder? Eso no puede ser, porque seria demasiado malo.

En Espania hemos descubierto el sistema para hacernos rico sin tocar bola. Los alemanes y todos los demas con sus I+Ds deben ser tontos porque nosotros, sin hacer nada, nos hemos forrado. Pisos joder! Pisos... y dejaros de tanta tonteria.

Y ahora, como les damos tanta envidia, vienen diciendo que si la burbuja que si no se que.... envidiosos eso es lo que son.

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