International Comparisons - Cost of Living

16 Bedrooms in Germany for 299,000 Eur
daft.ie/searchinternational_ … ?id=842743

4 bed 2100 sq ft house in Houston city for 140,000 USD
homes.com/listing/155663168/ … N_TX_77066

Germany is doing ok and Texas is one of the better states in the US.
Would love to see prices like those in Ireland

Important not to lose touch with the idea of real value for money when it comes to property so
throw any good price comparisons in this thread or explain why such a comparison would be wrong

What are the property taxes like on those houses…?

If they are high it might help explain some of it.

$303 per month on the house in Texas.

I used to live in Cologne. I’ve always felt it is a decent comparison for Dublin, albeit a bit smaller and not a Capital City.

immobilienscout24.de/wohnen/ … %B6ln.html

Renting an apartment will cost between 8 and 11 euros per m2. This nowadays equates reasonably well with Dublin when it comes to larger places, you can get a small 100m2 house for about €1100; however Dublin one-beds and bedsits are still way above these levels in a lot of cases. I’ve seen redbricks for sale, size 100m2 full of bedsits, with a claimed rent roll of 2,500 per month, i.e. 3 times the levels paid in German cities (Rent Supplement must be the culprit here)

Buying an apartment is 2,100 per m2. Still a bit cheaper than the average price per square metre in Dublin - ps200306 has the average per square foot at 296 which is about 3,175: that is for houses only but apprently “apartments were dearer per square foot, on average, than houses.”

Average house price 407,000. This is now well above the average Dublin price. I can’t find a recent figure but it must be getting close to 200k now?

Düsseldorf, just up the road and the regional Capital City of the prosperous NRW region, has similar figures for apartments but the price of a house is €600k. You can poke around on that site and get a colour coded map of purchase and rental prices for a region - zoom out for a view of the whole country

Start here for example

immobilienscout24.de/wohnen/ … karte.html

Zoom out and click the ‘Karte Wechseln’ button at the bottom right. This gives a view of average rent or purchase price, and rate of growth

Mietpreis = rental
Kaufpreis = purchase
-entwicklung is the rate of change for either

I wonder if the property tax will hit prices in Ireland at all?

remember those 400k to half million box apartments?

you can get your very own in melbourne
realestate.com.au/property-a … -108625236
530k euro

or stockholm - 380k euro
booli.se/bostad/sodermalm+ho … +3/1102633

or even hong kong - 1 million euro

hongkonghomes.com/en/propert … 2&offset=2

What a view! No wonder they kept the curtains closed for most of the shots.

https://img.hongkonghomes.com/api/loadPropertyPhoto.php?photo=8c93ad5db0879c89e3353d0d79a739bc&index=1&s=380&scid=1

Be interested to see how Spain, Greece, Italy & Portugal compare

The ad says “The property is fully tenanted”. The tenants must like lounging on bare floor as there’s no furniture in any of the photos.

I like the way you say “still a bit cheaper”…WHAT!

Excellent post by the way.

From the ad, that equates to 310 euro monthly rent for what look like nice 2 bedroom 64 Sq M. apartments close to the city.

It’s not just sales prices that are too high. Rents here in Ireland are totally crazy. They seem to have got even worse the last year or two.

Irish renters are being reamed. It’s much easier separate them from a large amount of their income on a monthly basis than it is to give them big hefty mortgages in the current environment.

Can anything be done about it.

  • Oh, and the multiple of yearly rent to get sale price is 10. That sounds more like what it should be.

In German if you say “Haus” "(= house) you would normally think of a detached house with a good size garden. Otherwise you would qualify this by saying “Doppelhaushaelfte” or “Reihenhaus” or “Reihenhaeuschen” where the latter diminutive applies to a good chunk of what is on offer in Dublin. Hence I suspect that the averages in Cologne or Duesseldorf are for bigger average houses than in Dublin.
In Berlin you can still buy good quality apartments for around 2000/m^2. Prices are going up though as people
fear for the Euro.

No state income tax or corporation tax in Texas, Petrol also works out as under 60 cent a litre in EUR
texasgasprices.com/

Texas avoided the housing bubble and has always managed to keep the cost of living lower than most other US states. This is despite it being a powerful economy in itself.

Land is not zoned in Texas. You can pick up 3 -5 acres 40 minutes from Houston for 10,000 or less. The system is alot more lax but not free for all either. It had a deed restriction system.

Half acre plots in rural Ireland were hitting 150,000 euros at the height of the boom.
Texas also has a household taxation system. Would people in Ireland object to a household tax if their income tax was going to be dropped to 0%

??

realestate.yahoo.com/;_ylt=AvWXx … 7iXQbxkdEF
US Data

homes.point2.com/BM/Pembroke-Par … state.aspx

How’s this? 1 bed 900 sq foot apartment for $830,000 (1 BMD = 1US$). Bit like Irish bubble prices 709 euro per square foot. It’s the Hamilton in Bermuda FYI.

The question is can we afford the cost of not living?

The bamboo extensions to the balconies are awesome!

econpost.com/texaseconomy/texas- … king-world
Texas - 14th largest economy in the world if it were its own country.

Why can we not simply take a look internationally and take practices from the best economies abroad and implement them here?

Too many vested interests.