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Theo said:Also, my experience of the UK market is not yours. I own 3 BTLs over in the UK and achieve 13-15% rental yields before tax (cash yields, not gross yields so these are directly comprable to deposit rates) and I have also achieved 25% capital gains (again , received these in cash from the bank tax free when i re-financed) in a priod ranging 6-12 months. There is a significant shortgae of housing supply in the UK over the next 10-15 years.
Quarterly figures from Landlord Mortgages have revealed rental yields in England have fallen to 5.87per cent - their lowest in three years.
Theo said:I would agree with CCOVICH earlier remark about this honest estate agent. If you're so unwilling to believe one person's hype about the property market, then why are you so quick to believe a person's pessimism wothout doing your own research?
Although it depends on where your 3 bed semi was, I would say its highly likely you have lost substantial sums of money by selling out too early. How much would that 3 bed semi be worth in today's market.
Also, my experience of the UK market is not yours. I own 3 BTLs over in the UK and achieve 13-15% rental yields before tax (cash yields, not gross yields so these are directly comprable to deposit rates) and I have also achieved 25% capital gains (again , received these in cash from the bank tax free when i re-financed) in a priod ranging 6-12 months. There is a significant shortgae of housing supply in the UK over the next 10-15 years.
There is opportunity in prperty for anyone that bothers to look, and ignores all the hype on either side of the argument. true, it is harder to find good deals today than yesterday but they exist.
bearishbull said:http://www.rte.ie/business/2006/0328/germany.html
ecb expected to raise rates next month raher than later by .25% and then again in august
bearishbull said:http://www.rte.ie/business/2006/0328/germany.html
ecb expected to raise rates next month raher than later by .25% and then again in august
beattie said:I thought a rise was expected in May? If it comes a month earlier than expected this could be a sign of things to come. Listen to what Bernanke says tonight, if it is on the hawkish side then this only furthers the case for a quicker upward movement by the ECB
Well it is but....... in case anyone is interested, the BBC have done an undercover investigation of UK Estate Agents, makes for some interesting reading:CCOVICH said:And here I was thinking that this thread was about the Future price of Irish properties!
Theo said:No, i can't show you a property on a website. I could show you one if you were prepared to spend a morning over there and view some. I didn't use the web when i purchased my BTLs. I spent 2 weeks in the market looking at dozens of places.
Naturally I borrow in sterling and 3 year fixed rates are available today at 4.85%.
soma said:Did anyone see the programme..?
soma said:Well it is but....... in case anyone is interested, the BBC have done an undercover investigation of UK Estate Agents, makes for some interesting reading:
http://news.bbc.co.uk/1/hi/magazine/4826444.stm
Did anyone see the programme..?
Theo said:Hi Neffa
Yes, ultimately when you sell, there is CGT, but currently Irish residents only subject to Irish CGT on sales of UK property. (and is attractive at 20%)
I use the bank proceeds for further investing - not necessarily property, and always careful to be sure that the interest on these loans is being paid for by someone else.
Neffa said:Still a bit OT - why borrow in sterling when euro rates are lower? The currency hedge is not that great. Our loan in the UK is in sterling at a very low fixed rate (with heavy cancellation costs, hence why I am sticking with it) but I could save £200+ pcm at a stroke by putting it into euro.
Marie said:It remains to be seen what your portfolio will realise if/when they sell at less than you purchased them for. Incidentally interest on loans is never being 'paid for by someone else'! Whether deferred as interest-only the borrower pays and it is disingenuous to suggest otherwise.
Marie said:Regarding your remarks about shortage of housing stocks.......the financial institutions, estate agents and local councils getting 'backhanders' from developers operate as enthusiastically this side of The Pond as the other!
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