Mayo. Can't sell them? Rent them.

Nice looking houses I have to say.

Look at the reflection in the ground floor window in picture three. ( I’m assuming its a reflection. It could possibly be a couple of very small builders looking out the window at an agent taking a photograph of the house they’ve just built. :open_mouth: )

daft.ie/247508

Hmmm, EA’s don’t tend to wear high vis vests do they?
Is this a whole development they can’t see so they are putting them up for rent?

I agree, nice houses - they seem to be in the middle of no-where?

Anyway, I don’t quite understand these bits:
€600 Monthly
Unfurnished, 3 Months Lease
Rent Allowance Not Accepted

I am presuming the developer is hope for an upkick in demand in early 2008 and so wants to make some money until then, hence the 3 month lease.

Who is going to move into an unfurnished house for three months?!

By renting the house out, does this not mean that it is no longer a new house, so it can only be sold as a second-hand house? (so no new house SD exemption).

Does the “Rent Allowance Not Accepted” mean no local authority tenants?

Oompa, Loompa, doom-pa-dee-da
If you’re not greedy, you will go far
You will live in happiness too
Like the Oompa Loompa doom-pa-dee-do

For sale here:

ganleyauctioneers.com/ganley/asp/property_View.asp?p=847

Thanks whizzbang! now I can’t get that song out of my head looking at all those new houses for sale! Haha, willy wonka developments, thats class.

Eh, an unfurnished, 3 month lease??? So you move all your stuff in (beds, couches, curtains, etc.) only to move them all out again in 3 months?! Willy Wonkas indeed.

I said before that all the builders in this country seem to be ex brickies or politicians. This rubbish proves my point. How thick do you have to be to try this rubbish. The muppet builders doing this have to be the Irish Times Thick Bastard of the Year or Irish Times Complete Nutter of the Year. Either way I’d love to meet them in the pub for a few. think of the laugh you’d have talking to someone like this with them explaining their rational for this decision. Maybe TUG or OW can invite them onto the pin for Questions and Answer session. Pretend we are a forum of people who are partail to short term renting. :unamused:

At this rate, we’ll have a solicitors letter in any case… :unamused:

What I’d like to know is - do the Ooompa-Loompas live in the house, or would you be getting the place to yourself?

I’m sure they did loads of market research and a full SWOT analysis before embarking on their house-building endeavours…

€235k for a 4 bed semi, new.

€600 a month is €12k a year. Thats not the worst yield in Ireland by any means.

Mind you wild horses would not drag me to Knock , it has something of the night about it .

Look what €1300 a month will rent in Westport , by comparison .

Nice , I might consider that :slight_smile:

Its a pity we couldn’t organise building homes like these in locations where the need was greatest. Utilising the labour and materials needed to construct these houses in Mayo rather than in the greater Dublin region, was due to, in no small part, a planning system the Oompa Loompas would be ashamed of. :frowning:

I’ve seen this before and aparently it’s legit for a developer to rent out properties he has built and sell them at a later date as new with full stamp duty exemption. I don’t have the source as it arose in an AAM thread relating to a development in either Malahide or Smithfield, can’t remember. The rational was lost on me but it’s to do with the property being bought and sold, rather than simply rented, that loses the stamp duty exemption.

Developers can pretty much do anything they want with houses, or entire developements, as long as they hold an interest in it. Kinda like their own personal fiefedom. And damn right too! I for one welcome our new Overlords.

Snark. :stuck_out_tongue:

Clearly what’s needed for each house to be ‘developed’ and owned by a seperate company (‘developed’ by outsourcing the work to the real development company), and instead of buying the house, buy the company.

Of course, you wouldn’t get owner occupier CGT exemption, but it would work for investors :smiling_imp:

That house (and the other two houses in the development) has been for sale for months. Hense the 6 months lease. Another developer who thinks things are gonna pick up in 2008?

btw they have just built another 80 houses next door. only 9 Sold.

They just pop out every now and then to sing a condescending song to you and then disappear, you’ll get used to it in no time.

Next door is on sale for €800k.

The Knock houses seem better value based on Yield alone .

:open_mouth: €600 a month is €7200 a year!