Conference tallis::celt

    An average ( 110 sq meter, three bedrooms ) house  costs IR�40,000 to
    Ir�50,000 in the Galway area. 4 bedroomed houses are in the IR�60,000
    region.
    Rents are in the IR�300 to IR�400 per month bracket for furnished
    accomodation, net of utilities. 
    Rural areas within 20 miles of Galway city work out cheaper if one has
    the necessary car as public transport is not good.
    

    
    What's the current exchange rate between Irish pounds and dollars?
    
    Steve
    

    As  of  5/1/94
    
    1  punt = 1.43  Dollars
    
    

I've spent months in Ireland this past year (1993), and I've rented a "typical"
house in the Galway suburbs (around 120 sq meters, = approx 1200 sq feet),
semi-detached, etc etc.  This was in the new Meadows development backing on
the Racecourse, and the asking price was in the #40's.

How about much larger homes, though?  Example, my home in the United States
has 2500 sq feet of living space (call it approx 250 sq meters), plus in
addition it also has a large two car garage, and a small (150 sq feet or
15 sq meters) screened in concrete floor porch.  It sits on 1/2 acre of
land (how much is that in metric?), is fully detached, and is partly
wooded.  Here in the Atlanta area, about as far from the city centre as
the Meadows are from Galway city centre, adjusting for relative
population, this house sold in mid 1992 for $123,000 (approx #85000).

How much would such a house cost, outside of the Galway city limits,
either completely alone or within a development of similar estates?

Thanks
-Jay

    A house similar to Jay's in the greater Boston area would be
    at least around $200,000 or #130,000. Houses and land are a
    bargain in Ireland. I too would love to buy some land in Galway.
    
    Caio

>    An average ( 110 sq meter, three bedrooms ) house  costs IR�40,000 to
>    Ir�50,000 in the Galway area. 4 bedroomed houses are in the IR�60,000
>    region.
>    Rents are in the IR�300 to IR�400 per month bracket for furnished
>    accomodation, net of utilities. 

Rents are very expensive, compared to sales price... is there a high demand
(or low offer) for rental to justify it ?
Or are those the rents for short term rentals (e.g. 1-3 months stay) ?

Slan,
Mauro.

    That is short term rental. During the holiday season some people can
    pay �200 - �300 per week for a house on a weekly basis during the
    holiday peak season.
    With its tourism and student population Galway is a high demand area.
    

    If you think these rents are expensive, don't come to Boston or
    Cape Cod for vacation.  In Cape Cod, a modest 2 bedroom cape will
    run about US $700 per week, within a mile of the beach.

    
    there's no property tax in Ireland I was told. If true, it sounds like a 
    fine place to retire when it's time.
    
    Gary

If I read this correctly, there is indeed property tax in Ireland, but only
for homes with values over #75k (around $108,000) and for owner's whose yearly
income exceeds #25k (around $37,000).  So, if you can buy a house outright,
and limit your (on-paper) income, then yes, I'd agree that Ireland would be
a wonderful place to retire!

Here's the document I got my numbers from...
-Jay


    =======================================================================
    
    January 26, 1994            THE IRISH EMIGRANT            Issue No.364a
    
    _______________________________________________________________________
    Editor: Liam Ferrie                                  Circulation: 2,340
    =======================================================================
    
                                    BUDGET '94
    
    With the general view that the economy was in good shape, Bertie Ahern 
    should have had the pleasure of delivering one of the more welcome 
    budgets of recent years.  However, the media seemed to have a pretty 
    good idea of what was in store for us and little of what the Minister 
    for Finance had to say came as a surprise.  If we are to believe Mr 
    Ahern, he produced a budget which will encourage employment and 
    enterprise, and is good for the taxpayer, especially those on low to 
    moderate incomes.  The Minister predicted an increase of 4% in GDP and 
    permitted himself borrowings of less than #800m, or 2.7% of GDP.
    
    The main provisions of the budget are:
    
    PERSONAL TAX:
    
    - No change in the 27% standard income tax rate or in the top rate of 
      48%.
    
    - Personal allowance for a single person increased by #175 to #2,350.  
      For a married couple the increase is #350, to #4,700.
    
    - The standard rate band increased from #7,675 to #8,200.  The new 
      standard rate band for a married couple is #16,400.  The 48% tax rate 
      applies on all additional income.  The Minister suggested that 
      couples with average allowances will be earning in excess of #22k 
      before being caught in the top rate.
    
    - PAYE allowance of #800 can now be claimed by the self-employed, 
      including farmers whose primary income is from agriculture.
    
    - Tax relief on mortgage interest and VHI payments will be at the 27% 
      rate only and not at 48% for those on a higher income.  This change 
      will be phased in over the next three to four years.  90% of interest 
      paid can be claimed subject to an upper limit.
    
    - First time house buyers can claim mortgage interest relief on 100% of 
      interest paid for five years instead of three at present.  
    
    
    INCOME LEVIES AND PRSI:
    
    - The controversial 1% employment levy introduced last year is totally 
      abolished.
    
    - The 1.25% health levy and the 1% youth employment levy will no longer 
      be paid by those earning less than #9k per year.
    
    - Ceiling for employees' PRSI is increased from #20k to #20.9k.
    
    - Employers' PRSI is reduced to 9% where the employee earns less than 
      #173 per week.  (It is believed that this will reduce pressures in 
      industries with a high labour content such as clothing manufacture).  
      The existing 12.2% rate of PRSI is retained for salaries above this 
      level to a maximum salary of #496 per week.
    
    - Public servants hired from 1995 will be subject to full PRSI 
      deductions.  Those hired before that date will continue to receive 
      special concessions.
    
    
    OTHER TAXES:
    
    - Residential property tax will be payable on houses valued at more 
      than #75k where the family income is greater than #25k.  The tax was 
      payable on houses worth more than #91k with a family income of 
      #28.1k.  The old rate was 1.5%.  This has been reduced to 1% but the 
      value over #100k is subject to a 2% tax.  No tax is, of course, paid 
      on the first #75k.
    
    - Excise duties are increased as follows: 8p on twenty cigarettes, 3p 
      on a pint of beer or cider, 3p on a half glass of spirits and 1.5p on 
      a litre of petrol or diesel (that's almost 7p per gallon).
    
    - Reduction in vehicle registration tax should take #400 of the price 
      of a new #12k car.
    
    
    SOCIAL WELFARE:
    
    - Rates go up by 3% in July.
    
    - The monthly children's allowance for a third child increases from #20 
      to #25.  For a fourth and subsequent children the increase is from 
      #23 to #25.							   
    
    - Widowers will receive the same payments and allowances as widows in 
      future.
    
    - From July (or is it April?) the newly unemployed will no longer 
      receive pay-related benefit.
    
    - Unemployment benefits will be subject to tax.  (This could arise 
      where one spouse is working and the other unemployed).
    
    
    OTHER:
    
    - #5m grant to the GAA to help with the development of Croke Park.
    
    - #10m to refurbish additional parts of Dublin Castle.
    
    - #100m to the health boards to reduce debt.  (Money to be taken from 
      the proceeds of the recent tax amnesty).  Special controls to be put 
      in place to ensure that the boards do not generate unmanageable 
      levels of debt again.
    
    - Changes to probate tax mean that it will not apply to spouses.  The 
      value of agricultural land will be reduced by 30% for the purposes of 
      calculating the tax.