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Dublin office space set for 25 per cent vacancy rate

Gillian Nelis Property Editor The Post Ireland 01.02.2010
Big storm may be brewing over residential property debt

BUSINESS OPINION: Saving the banks from the consequences of their greed over consumer credit and residential mortgages could well be this autumn’s crisis, JOHN McMANUS

Dublin office space set for 25 per cent vacancy rate

A quarter of the office space in Dublin will be empty later this year as the market continues to decline, according to commercial property experts.

Secondhand houses slow to come to market

Gillian Nelis Property Editor The Post Irealnd 01.02.2010
Secondhand houses slow to come to market

The number of secondhand houses coming on to the market in Dublin fell sharply last year and is likely to decline again this year, as vendors delay selling their properties in the hope of seeing a recovery in prices.

Half-built homes frozen in time tell how dream died

WHAT are the neighbours like? Once upon a time, this was the question that could make or break the sale of a house or an apartment.

Getting the lowdown on interest rate rises

FIONA REDDAN The Irish Times 29.01.2010
Getting the lowdown on interest rate rises

Homeowners on variable interest rates are in line for a rate hike of as much as 1.5 per cent, writes FIONA REDDAN

Bulgarian Real Estate Values Expected To Continue Falling

Despite promises of increased transparency and the lure of deep discounts, Bulgarian real estate values are liable to see another 10% decline. December saw a spike in transactions, though, in anticipation of legislation banning cash deals and calling for accuracy in appraisals as part of property disclosure. See the following article from Property Wire for more on this.

House prices at record low in Ireland

PATRICK ROBERTS Irish Central 21.01.2010

Ireland, the country of empty ghost houses

John Spain Irish Central 21.01.2010
Housing prices have never been so affordable in Ireland

House prices have never been so affordable in Ireland, according to a new survey. Average house prices have slumped 27 per cent in the past year, and there are over 300,000 empty homes throughout the country.

Ireland, the country of empty ghost houses

Time was in Ireland when we used to bring tourists to stay in haunted castles. These days we have haunted houses of a different kind, so-called ghost estates on the outskirts of many towns around Ireland. And they're not the kind of places that tourists would want to stay in.

Irish property site extends into Poland

Ireland Online 21.01.2010
Irish property site extends into Poland

Daft Media Group has today announced its expansion into the Polish online property market with the launch of Daft.pl.

London calling: interest in residential property in London is reviving

Demand for rental properties in London is reviving as residential rents start to rise – and an Irish-owned London-based property management company is planning to expand

Property to stagnate till 2012

Inside Ireland 20.01.2010
New figures published show in the last year, 6,400 householders have not made any mortgage repayments, resulting in widespread reposessions if the government do not make changes.

An increase in house building is unlikely before 2012 according to a report out from Goodbody Stockbrokers.

The site of the former Irish Glass Bottle plant, Ringsend, Dublin (within red contours). It was purchased at the peak of the boom in 2006 for €412 million, by a consortium led by developer Bernard McNamara. In the same year, Ireland's biggest bank AIB, sold part of its Dublin headquarters, the Bank Centre, to developer Seán Dunne.

Irish Property Crash: When the base rate in the UK hit 15% in 1990, the commercial property market crashed in London and a high profile developer victim later told the Financial Times that in the few short boom years that were fuelled by tax cuts and good feeling from privatisations, he used to wake up every morning thinking:"Thank God, I'm not still a chartered accountant."

Pension fund switches some assets to property

Geoff Percival Irish Examiner 18.01.2010
Pension fund switches some assets to property

PENSION investors should consider switching their investments from cash back into the property market, according to one prominent financial services executive, due to the increasingly attractive values in the marketplace.

Dealing with Irish banks’ huge debt

Dealing with debt is going to be one of the themes of 2010 - for developers, businesspeople, mortgage holders and, indeed, for the state. The most damaging legacy of the boom years is the massive indebtedness of many households and businesses.

McNamara’s meltdown

Richard Curran The Post 18.01.2010
Estate agents demand bidders show proof of loan approval

House-hunters are now being asked to show proof of their loan approval before estate agents will accept offers on second-hand homes.

McNamara’s meltdown

The €65 million High Court judgement that was granted against property developer Bernard McNamara last week did not bring his business empire crashing down. That had already happened.

NCC says property tax necessary

Brian O’Mahony Irish Examiner 15.01.2010

When repossession of your home is not enough for the bank

DOMINIC COYLE The Irish Times 15.01.2010
NCC says property tax necessary

UNLESS the tax base is broadened to repair the public finances income taxes will have to be raised, the National Competitiveness Council (NCC) has warned.

When repossession of your home is not enough for the bank

Q I CANNOT understand why, if a bank lends money to buy a house and the buyer defaults on the loan, the bank repossesses the house, and the buyer still owes the bank the balance between the loan and the money the bank will get for selling the property (with negative equity). If it thought the house was worth as much as the loan and the house was collateral against the loan, why is it not enough for it to take the property, as surely this was the “ agreement” in the first place and the buyer (or borrower) is free of its obligations to the lender once it has repossessed the property?

CBRE report, Dublin office rents have fallen 45%

Property consultant CB Richard Ellis says 2010 will be another tough year for the commercial property market. It also says investment property values have fallen by 60% from their peak.


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Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.