Daft Property - Irish Property News

Building slowdown stalls attempt to complete 2,000 'ghost' estates... WORK TO complete the State’s 2,000 unfinished housing developments has stalled due to a 40 per cent drop in on-site construction activity this year, according to the latest figures from the Department of the Environment. However, the vacancy rate of completed houses on “ghost” estates has fallen by one-fifth since the department published its survey on the extent of the problem last year. In addition, demolition has begun on estates were there is no prospect of completion, the department said. Last October the department published its first national survey of the extent of the ghost estate problem, where developments are left unfinished and only a fraction of homes are occupied. It identified more than 2,800 unfinished or vacant housing estates. A year on, some 700 estates have been completed and a further 100 on which no substantial work had started have been taken out of development, leaving a tot...

Building sector to lose 40,000 jobs next year... Many leaving to seek work in the Middle East. THE Irish economy is dead on its feet and as many as 40,000 construction workers could lose their jobs next year as housing starts have slumped to pre-1993 levels, according to latest figures obtained by the Sunday Independent. So bad are things here that a number of leading Irish building companies are leading an exodus of our most skilled and talented workers to foreign lands in the search for work. It has emerged that Irish firms are now lining up work in places like Dubai and Iran, both of which are experiencing building booms. In what is further bad news for the Irish economy, the number of housing completions this year will be just 45,000 compared to the 93,000 at its peak two years ago, and next year it is reckoned that the number of completions will be less than 20,000. This year, not one county in Ireland has managed to match or better the number of housing starts last year. In a sh...