Ireland REAL ESTATE MORTGAGE LOANS BANKS
Irish property market, where prices have risen for 10 years in 4 times the first time in this century, awaits downturn.
According to Tobias Justa, economist Frankfurt Branch Deutsche Bank, price declines are expected in the next 18 months. The volume of the fall may reach 10%.

Last but not least, in the projected decline in prices, played a tighter rules for granting mortgage loans, which in Ireland has traditionally been short-lived.

According to the Herald Tribune, the property market in Ireland is, along with the Spanish one of the most dynamic in Europe.

The last few years the property market in Ireland is thriving. Customers choose housing based on what the maximum loan they can get, and knowing that, having sold a house or apartment a year later, they are in any case remain profitable.

The current situation in the housing market has changed. Prices have risen to such levels that were almost too tough for those who purchase housing for the first time. The demand for housing has decreased, and therefore decreased and the rate of its construction. On the other hand, because of the continuing increase of population growth increased the demand for removable housing, and, consequently, significantly raise prices on its lease.

Therefore, practically every man, not yet having their own home in Ireland, the question arises: which is better now, buy a house or is it it shoot?
Due to the fact that the market in the battle for customers have become very actively competing banks, it is possible to find the property at an affordable price, in the summer, albeit marginally, but decreased prices, and prices for rent are increasing, many are beginning to think about purchase their own home. More boldly, and began several years lived in the country of immigrants. During the first 8 months of this year, 25 percent of those who bought the house for the first time, were immigrants.

So which is better: to rent or buy? Writing unambiguous advice impossible, so let’s compare some figures ...

For example, a family of two-man takes home, which cost the market 340 thousand euros, and the rent paid 1500 euros per month. Those who are renting property in Ireland are entitled to tax relief. Detailed information on the site http://www.revenue.ie/. In our case, a month, this amount will be 60 euros. So, ultimately, the said house rent cost in 1440 euros. If the family decides to buy the same house, the monthly payment will depend on the lender and credit terms. On the market today offers all kinds of interest rules with a difference of up to one percent, so it’s important to choose the most favorable credit terms. It is important to know that the borrower in case of wrong choice of interest rate may ultimately overpay for their housing tens of thousands of euros.

After consulting with the broker on how much to pay in case of a loan of 340 thousand euros, the answer was that if they received a minimum of current market interest rate for a loan, per month to pay 1,490 euros. Families of two people paying the loan will receive a tax credit - a total of about 270 euros per month. More information on http://www.revenue.ie/. Therefore, the house will cost you a month about 1220 euros. We must, of course, take into account the payment of compulsory life insurance, but in any case, the conclusions we can do.