In 1950, there were 7.2 people aged 20–64 for every person of 65
or over. In 2010 the average ratio was 3.5:1 and is projected to
reach 1.8:1 by 2050.
Ireland’s current population pyramid shows that there is a large group in the 35-39 category. In the next 20-30 years, this generation will be retiring. Currently, only 40% of people in Ireland have a private pension with the remaining 60% dependent on State funded pensions.
This means the deficit in the government's budget will be passed onto the current generation of 0-30-year-olds through taxes, as the Irish government has a €3.5 billion pension shortfall.
So the solution is to either make pensions mandatory or to increase private pensions amongst citizens. An increase in private pensions will reduce the pressure on the government to provide a public pension which will ease the pension crisis. The majority of pensions are index-linked which means when the economy does well, you get paid but when the economy does badly, you don’t. This is a major concern because of the uncertainty that this system brings.
My project aim was to create a website that would recommend properties based
on the return on investment and return on investment.
My project analyses residential property for sale and uses machine learning to predict the property that has the highest yield. HouseQuest.ie gives investors a platform to find the most viable investment property.
My project offers an alternative to traditional pensions. Property provides recurring income that is passive which means you don’t have to work to earn income. Instead of being paid each month from your pension scheme you are instead paid using the income from a rental property.
Having a different source of income means you are not dependant on your pension alone. This will result in fewer people being dependant on the public pension scheme and will ease the pressure on the scheme.
HouseQuest recommends the house with the fastest return on investment to the investor.
Rents have been increasing in Ireland over the past decade
due to a decrease in the number of rental properties available
and an increase in demand. This has resulted in higher rents.
Rents have risen for the 6th consecutive year and the year-on-year rate of inflation for the rental sector is above 13%, a great deal higher than inflation for the rest of the economy. The current number of properties available to rent nationwide was just 3,214 which is 4.5% less than the number available last year.
Rent Pressure Zones were introduced in Dec 2016. Landlords are allowed to increase the rent of a property by 4% each year. They were designed to stop the rising rents and are in place in most major cities.
However all of the rent pressure zones seen growth of more than 12%. This is more than 3 times the “4%” cap. The rent increases continue, unimpeded by government regulation and that is why I feel the government's response has been ineffective. This policy doesn’t solve the problem - there simply are not enough rental properties available.
This program will work across all of Dublin and gives indept information about the houses
This program focuses on the value offered to you rather than the outright income. It values return on investment and profit above purely income.
Using this approach you save money by not going to a realtor and there is currently no solution on the market in Ireland that does such an expansive data mining operation. The program has the distinct advantage of being able to adapt to the market conditions by continually improving