Daft Property - Irish Property News

A POETICALLY-titled report, A Haunted Landscape: Housing and Ghost Estates in Post-Celtic Tiger Ireland , estimated last July that there were more than 620 such estates where over half of all the houses were either empty or unfinished – exceeding 300,000 units in all. Now we are being told by the Department of the Environment, following an on-the-ground survey of over 2,800 developments, that the phenomenon is not quite so widespread. Of the total of 180,000 houses or apartments involved, 77,000 were found to be occupied, 33,000 were completed and vacant, 10,000 were at varying stages of construction and the remaining 60,000 were not started at all; further building plans had obviously been abandoned as the property bubble burst. The photograph in yesterday’s editions of two children playing on a “street” in Co Cork with everything unfinished around them shows that there are are real victims of this “legacy issue”. The degraded environment of such estates, with their unpaved footpaths

Call for inquiry into property bubble... An independent inquiry is needed into the Government’s failure to control the property bubble, a State-funded academic institution said today. In a scathing report, the National Institute for Regional and Spatial Analysis (Nirsa) also demanded a full investigation into charges of cronyism in the planning process. Furthermore, the body which examines how the country is developing, claimed the National Asset Management Agency (Nama) is a worrying organisation set up as part of a response to protect developers potentially at the expense of taxpayers. Professor Rob Kitchin, director of Nirsa, which is based in NUI Maynooth, said an inquiry into planning decisions and alleged close links between politicians and property speculators was necessary if the housing market was to recover. “An independent inquiry is needed to investigate all aspects of the planning system and its operation within and across different agencies and at all scales in Ireland in

Does this finally mean bye-bye to Bertieland? Just because Brian Cowen et al are proclaiming the end of crony capitalism doesn't mean it's dead yet... They do things differently in Sweden. Up there, they pull together in crisis. They show a united face to the outside world when the chips are down. They are ideal candidates for a social solidarity pact. Out here on the far side of Bertieland, we don't have the stomach for such happy-clappy stuff. On Wednesday, Brian Lenihan announced details for the National Asset Management Agency, or, if you will, the bad bank. This agency will take control of the property assets in the country's main banks, thus freeing up the banks to lend money to businesses. The book value of the assets, most of which are toxic, is estimated at €80bn to €90bn. Nobody knows the real value of the assets because at the moment, as nothing is selling, there is no market in which to put a price on them. The process is designed to clean up the horrendous