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Ireland just half way through its property slump with prices expected to tumble 45%

Property prices in Ireland could fall as much as 45% from the peak of the market in late 2006 due the economic downturn and increased costs of funding the banks, it is claimed.

New legal help for NI firms investing in India

Northern Ireland companies investing in India are to receive fresh legal help, it was announced today.

The price of the average Irish home has plummeted by 30 percent in just 12 months

The worsening property slump in Ireland has been branded an all-out crash. A report in the Sunday Times says the value of Irish homes has fallen by up to 30 percent over the past 12 months.

Bankers' expertise critical to full recovery, says Arc founder Duffy

THE BANKERS and property experts who helped to drive Ireland's property boom should be called into action to help us recover from the bust.

Irish property values down by 80 percent from 2006 peak

KELLY FINCHAM Irish Central 22.10.2009

Why renting is the new buying

Irish Times 22.10.2009
Commercial catastrophe: High Court judge says business property values are off by some 80 percent from the 2006 boom

It looks as if the chickens are coming home to roost in overvalued properties all over Ireland. An Irish judge has revealed that property values in Ireland have plunged by 80 percent in some areas.

Happy renting: Clare White and Jack Healy with their children Beibhinn, Rossa and Jasper outside the house they rent in Dublin 8. Photographs: Aidan Crawley and Matt Kavanagh

Some sold homes last year and can cover the cost of renting with interest on money from the sale; others enjoy living in a house they couldn't afford to buy, writes PAMELA DUNCAN

Should the state nama-ize our toxic mortgage debt?

Jill Kerby and Postbank The Anglo Celt 22.10.2009
Should the state nama-ize our toxic mortgage debt?

A week after the government finally, inexorably, committed us to the burden of NAMA, the National Asset Management Agency, it might be a good idea for the rest of us to look at the flip side of this enormous commercial property debt coin: our private residential property debt.

Kevin Warren (left) and Mark Duffy at the launch of Asset Resolution Corporation (Arc) in Dublin yesterday.

FORMER BANK chief executive Mark Duffy yesterday launched a new business aimed at creating and profiting from a multibillion-euro Irish portfolio of property-linked loans.

Firm to buy foreign banks' distressed Irish loans

Padraic Halpin Reuters 21.10.2009
Pharmaceutical happy to leave sun to set up Irish home

INSIDE THE WORLD OF BUSINESS: IT WAS the one crack of light in the overcast financial skies that broke through the gloom at the Commercial Court.

Firm to buy foreign banks' distressed Irish loans

DUBLIN, Oct 20 (Reuters) - A company set up by a former head of Lloyds Banking Group's Irish unit plans to buy distressed debt from Irish subsidiaries of foreign-owned lenders, its owners said on Tuesday.

Fears of surge in home loan defaults

Shaun Connolly, Political Correspondent Examiner 20.10.2009
Fitch: Irish recession to hammer house prices further

DUBLIN, Oct 19 (Reuters) - Ireland's deep recession that will see real GDP contract by 7 to 8 percent this year will force house prices to decline by approximately 45 percent from the peak of late 2006, Fitch Ratings said on Monday.

Fears of surge in home loan defaults

FEARS over mass mortgage defaults and the viability of the National Assets Management Agency (NAMA) intensified last night amid shock new warnings that the property market has much further to fall.

Puerto Banus Harbor in Marbella, Spain. Photograph: Corbis

Thousands of homes illegally built in Spain are to be pulled down – with no compensation for existing owners, says Graham Norwood

Bank Mortage Lending Increases

HSBC Bank has said that its mortgage lending in Northern Ireland has almost trebled in the past three months, with loans to first-time buyers increasing four-fold since the start of the year.

Tax changes part of new deal

LAURA SLATTERY Irish Times 12.10.2009
Government unlikely to introduce proposed site-value property tax

THERE IS no prospect of the new property charge proposed in the revised programme for government being introduced in the lifetime of the current administration, Green sources have confirmed.

Tax changes part of new deal

TAXATION: A SINGLE rate of tax relief on private pension contributions, a “site valuation tax” and the abolition of the Pay-Related Social Insurance (PRSI) ceiling are among the main taxation measures proposed under the renewed Programme for Government.

Hypo Real Estate nationalization completed

Associated Press 06.10.2009
Adrift in the property market? With house prices fluid and lenders cautious, there's a whole new set of rules for those wanting to buy their first home. Photograph: Getty Images

100 per cent mortgages are gone, so are long-term loans – and the easily-flipped starter home is a thing of the past, writes FIONA REDDAN

Hypo Real Estate nationalization completed

The German government completed its nationalization of troubled lender Hypo Real Estate Holding AG on Monday, squeezing out the bank's remaining shareholders after a turbulent meeting.

Pain in Spain May Linger as Banks Seek to Avoid Property Losses

Charles Penty and Sharon Smyth Bloomberg News 02.10.2009
 
Pain in Spain May Linger as Banks Seek to Avoid Property Losses

Oct. 2 (Bloomberg) -- Maria Jose Lozano, a civil servant from Madrid, left a recent property fair empty-handed after discovering that home prices were still out of reach in a market where sales have dropped 50 percent from their 2006 peak.

 
 

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