Daft Property - Irish Property News

Auction Date: 7th July 2011 Auction Venue: The Shelbourne Hotel, Dublin 2   Another Allsop Space Auction of distressed properties coming up next Thursday. Here's the list of whats on offer... Lots: 1-87 Lot Type Location Reserve Price will not exceed this figure 1 Vacant Flat Dublin 1 €142,000 2 Investment Flat Blackrock €202,000 3 Investment Freehold Building Clondalkin €120,000 4 Investment Freehold House Stepaside €102,500 5 Investment Flat Dublin 7 €175,000 6 Vacant Freehold House Castlebar €42,000 7 Vacant Leasehold House Dublin 3 €62,000 8 Investment Flat Dublin 1 €142,000 9 Investment Freehold Building Bray €150,000 10 Vacant Freehold House Stillorgan €275,000 11 Vacant Freehold House Tyrrelstown €97,500 12 Land/Site Blackrock €30,000 13 Vacant Freehold House Thomastown €60,000 14 Investment Freehold House Kilkenny City €410,000 15 Investment Flat Blackrock €222,000 16 Investment Fl

Almost €200m was wiped off the value of houses in price reductions in less than a month by sellers desperate to offload their properties, the Sunday Independent can reveal. In what is being described as the introduction of "a major dose of reality" to the housing market, price drops of over 50 per cent have been reported on many houses, particularly in the Dublin area. Price reductions before last month had slowed, with sellers refusing to budge below their expectations, but the lack of activity has forced them to massively reduce their original prices in order to sell, industry figures have said. IrishPropertyWatch.com, which charts property price falls and increases, in a report on the period March 15 to the April 20, showed that over 3,700 properties dropped their prices, while only a small number raised theirs. The largest drop in price was over €1m, from €2.9m to €1.9m, while the average price drop was €41,989. It's report showed that over 80 per cent of houses had

Are these the cheapest apartments in Dublin? €159,000 price tag on these apartments in D15 set a new benchmark for starter homes in the city... CAPEL Developments is billing the one-bedroom apartments at its new Waterways scheme in Ashtown, Dublin 15, as the cheapest in the city. Priced at €159,000, the apartments in the canalside scheme are 35 per cent cheaper than when the first phase of the large development was launched by Capel back in 2005. In 2006, one-beds at the scheme were priced around €300,000, 47 per cent more expensive than today’s price. In a bid to clear overhanging stock, Capel Developments is offering deep discounts and now claims to be offering the cheapest one-bed apartments in the capital. The €159,000 one-bed units have 47–50sq m (505–543sq ft) of space. Also on sale from this weekend through Savills are 73–80sq m (790–860sq ft) two-bed apartments which are priced from €248,000. Three-bed top floor apartments have 85–105sq m (918–1,135sq ft) and are priced from €2

The blame game for the boom is well underway, says Isabel Morton... LAST SEPTEMBER, I rather boldly suggested that we might all consider suing the banks. I am now interested to hear that it is to come to pass. Investors are planning to sue Anglo Irish Bank. Given what we now know about the specific circumstances of that particular bank, it is understandable that investors, who lost a lot of money, are now somewhat sore about it all. However, the idea that property developers are also considering suing Anglo Irish Bank is not quite as easy to fathom, particularly as they are suing based on the grounds that the bank behaved negligently by breaching the guidelines of sensible lending practices. My initial reaction to this news was: that the property developers have some nerve; and that they hadn’t a hope in hell of succeeding. But, having thought about the basis of their argument, I could see that the same argument might actually be applicable to many of the loans and mortgages obtained b

New rules may force 'firesale' of 70,000 houses... BUILDERS could be forced to dramatically slash the prices of more than 70,000 new houses that are now lying empty across the country, a leading construction advisor has warned. In a damning new analysis -- obtained by the Irish Independent -- it is claimed that developers will have to offload the massive volume of vacant homes in a 'firesale' before the Government's new energy guidelines come into effect on July 1. The new study found the number of new homes lying empty in 'ghost' estates is far larger than was previously estimated. The findings reveal there are at least 100,000 'surplus' homes -- far higher than the 30,000 estimated by construction industry chiefs and estate agents. According to the analysis, carried out by Tony O'Brien, head of business consulting for accountancy firm Grant Thornton, market conditions suggest some 30,000 of these will be sold in the current economic climate. Bu