Daft Property - Irish Property News

5,000 will leave each month over job crisis... 120,000 to emigrate by end of next year, ESRI predicts: MORE than 120,000 people -- or 5,000 a month -- will emigrate by the end of next year to escape unemployment at home, the State's economic think tank warns in its latest report. That means the equivalent population of Cork city will leave over the next 18 months. The figure is 20,000 more than the Economic and Social Research Institute (ESRI) estimated in its last report, just three months ago. Jean Goggin, a co-author of the report, said: "It's quite significant -- we expect 70,000 to leave in 2010 and a further 50,000 in 2011." Unlike last year, most of these emigrants will be Irish, the figures suggest. Many foreign workers -- mostly in construction and retailing -- whose jobs disappeared have already left the country. "In the two years 2008 and 2009, the number of non-nationals employed in Ireland fell by 87,500," the report says. "The biggest adju...

'Hot' buyers wait in the wings for market to bottom out... ESTATE AGENTS who feel they may never complete another good sale should be cheered by some new research from Sherry Fitz-Gerald. A survey carried out by the company suggests there are over 650 buyers with an estimated €831 million to spend in the Dublin residential market - as soon as prices have stabilised. Group chief executive Mark Fitz-Gerald sees prices bottoming out in the next six months, with prices having already dropped by 35 per cent in some neighbourhoods. The survey carried out among the company's branches has identified 656 "hot buyers" in the Dublin area; people who have expressed a strong interest in buying in the coming months. An additional 74 buyers are poised to spend €26 million in Cork city, according to the agency's research. Sherry FitzGerald found that 65 buyers are waiting in the wings to buy property in Ballsbridge, with a collective budget of €129 million. In the area stretc...