Friday, 19 August 2011

Solheim Cup accommodation - Irish investors seek gullible fools

The following article (in green) by Conor Pope appeared in yesterday's Irish Times. It demonstrates that the gap between reality and fantasy in the mind of the Irish property investor can still be measured in microns.

In a nutshell, those who bought investment apartments and semi-ds in godforsaken hellholes in the commuter belt of Dublin are looking to rent them out to golfing enthusiasts due to visit our little land for something called the Solheim Cup.

Apparently Paddy and Mary think unsuspecting, cash-rich (and no doubt colourfully dressed) foreigners will give them up to €5,100 for the privilege of staying in their two-bedroom apartment.

Hilarious. The idea of someone forking out 5 grand to forgo their villa with indoor swimming pool in Munich, in order to live in a pokey Irish investor apartment for a week, displays an incredible stupidity on the part of would-be Irish  letters. They have no idea of standards elsewhere.

I hope Morgan Kelly is not talking about debt forgiveness for these idiots.

THE OWNERS of houses and apartments across Co Meath, which normally rent for less than €1,000 a month, are attempting to cash in on next month’s Solheim Cup golf match between the US and Europe in Killeen Castle by offering them for rent for as much as €15,000 for one week.

Anyone hoping to make a quick buck out of the prestigious golf tournament is likely to be disappointed, however. Local auctioneers and tourism officials said yesterday there was “absolutely no way” people travelling from overseas for the event would pay anything close to the amounts being sought.

A “modern, spacious two-bedroom apartment” in Ashbourne, Co Meath has a price tag of €5,100 for the week, while a three-bed house in the same town is available for €9,000. A four-bed house on the outskirts of Navan is up for grabs for €11,000, and a five-bed house in Trim is €15,000.

The prices are reminiscent of the Ryder Cup, which took place in Co Kildare in 2006. At that time, relatively modest semis and bungalows within a 40km radius of the K-Club were being advertised from €600 up to €30,000 for a week or two-week period. Take-up at that time for private lettings was also pretty slow.

This week there were close to 100 apartments and houses listed on a site which is unaffiliated with any tourism authority or the competition organisers. It is charging people €95 for each listing.

Local auctioneer Maureen Rafter said the chances of anyone being able to command anything close to the prices being quoted for their properties were remote. “Bless their little hearts but these prices are totally aspirational,” she told The Irish Times.

“We have been approached by several people with lovely houses which they want to put up for rent. They are asking if we have any potential clients, but the reality is we have yet to be approached by anyone looking for accommodation,” she said.

James Brennan of Meath Tourism said: “We don’t believe there is a market for these properties at all. It is mad stuff and we have nothing to do with it and the Solheim Cup organisers have nothing to do with it.

“There is still accommodation available in the county, and hotels in the county are at 80 per cent occupancy now,” Mr Brennan added.

“If something looks too good to be true then the chances are it is too good to be true and that is the case here. We would be very disappointed if anyone paid these kinds of prices.”

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Anonymous said...

As if anyone would admit renting their house out to a newspaper or to the "honest" Irish Government! Has no one copped on? THEY'RE LYING YOU IDIOTS!

The Gombeen Man said...

Lying about what, may I have the temerity to ask? And why?

Now, kidding themselves - yes.

Ella said...

Hi GM, any golfing aficionado with a couple of bob to spare for accommodation is going to spend it in a 5 star hotel. There are a few not far from Killeen Castle, and no offense to the denizens of Meath, but the golfing gliterati aren't going to want to hole up for a week in your humble abode in the sticks anymore than they'd want to tee off from my gaff in the big smoke. Get over it, and stop trying to be greedy as well as just plain stupid.

Dakota said...

I don't know but there's something unsettling about this GM. Why would they think that "someone" from the golfing world, could, or would, want to sojourn in their semi d or shoebox "apartment." What is their motivation for thinking this? Could it be greed? Yes, and thick Irish greed at that. Always the worst type.
Or GM, could this be nothing more than a thick Irish way of amusing Johnny foreigner, I ask myself? No, for one reason, it clearly demonstrates the blantant culture of opportunism which is now part of mainstream Ireland. It maybe widespread elsewere but there is something squirmingly bad and obtuse about its appearance here.
BANKSTERS bad, OPPORTUNISTS..... the same ilk, if not worse (if that could be possible?).

The Gombeen Man said...

I agree, Ella, the nearest five-star is probably the first port of call if someone has 5 to 15 large to wave about to see a game of golf. An apartment or an SD in a Celtic Cod boomtime estate... I don't think so.

It's weird, Dakota. Property owners/mortgagees tried to pull this stunt for the Ryder Cup (I know nothing about these things, I might add - just referring to the article) and it was a flop. And that was back in 2006 - the height of the "boom".

Do they think everyone else is as gullible as they are?

Anonymous said...

MR GM this is a superb example of the dazzling brilliant mind of the great oirish gombeen wealth creation is alway foremost as is the greater good of society,of course you have begrudgers who would say these gombeens are coarse and greedy and behave like pissed tinkers on horseback as soon as they get a few bob before becoming pathetic apeing the earls and landed gentry of a long gone era acquiring stud farms horses and bentlys before going bust and back to england driving dumpers,what a brilliant facinating race we are no wonder iam sooooooh proud UP DEV -CHEERS-BH

The Gombeen Man said...

Ha ha. Classic Mr BH comment there. And spot on the money.

Anonymous said...

Rip off the tourist is a national sport in the homeland nowadays,

“It is basically rip-off pricing when there is a big event taking place,” said Mr Nolan (Travel Writer of the Year)

Having been a vitim of this carry on myself, once I expressed interest in renting a house which was advertised at 350 euro for a week, the owner replied "that week would cost 500 euro". (and there was no event that week). It all boils down to one word "greed".

Anonymous said...

There is no market for these gombeen would-be rack-renters, sure Meath is full of half empty ghost hotels. And within an easy drive from surrounding counties.
In the US during the likes of the Dinah Shore classic you'll still get a 4 star hotel for about 150 euro a night or a 3 star for about 120. And they are run properly, unlike the ropey overpriced hotels in Ireland which I stay in every week as a result of business.

The Gombeen Man said...

Thanks for the link, Anon. That's all too typical here, I'm afraid. If I were you, I'd spend my money elsewhere.

The only thing four- and five-star here, Iff12, is the prices they charge!