Daft Property - Irish Property News

Has the property market truly bottomed out? And not only that, but showing some signs of life? Well yes and no. Very encouraging signs are there for all to see. The newspaper property supplements are less anaemic and signs proclaiming "Sold" which have been as rare as hens' teeth are suddenly being seen in some of the better Dublin enclaves. Agricultural land is making record prices. And there are tentative signs that if potential buyers can survive a searching examination of their finances -- now so intimate that it would shame a proctologist -- there are mortgages being approved. Even property auctions, a leit-motif of the halcyon days of the boom, are making a re-appearance after a five-year absence. While there are huge tracts of the country where the residential property market is still on life support there are at least some signs elsewhere that suggest the patient is out of intensive care. Recovery has started in Dublin, not all of the capital, but in the areas...

Allsop Space Auction Venue - 6th July 2012 The Shelbourne Hotel Dublin 2 Start Times Single Session Auctioneer’s Announcements 10.45 a.m. Lot 1 not before 11.00 a.m. Lot     Type     Location     Reserve Price will not exceed this figure 1    Investment Flat    Dublin 2    €135,000 2    Investment Flat    Galway City    €120,000 3    Investment Flat    Malahide    €75,000 4    Vacant Freehold House    Killiney    €95,000 5    Vacant Freehold House    Galway City    €50,000 6    Investment Freehold House    Newbridge    €30,000 7    Land/Site    Gort    €27,150 8    Investment Flat    Dublin 8...

Write-offs and negative-equity loans already on offer -- just don't tell everyone The debate about debt forgiveness has raged across the nation, polarising public opinion. Laura Noonan investigates what banks are really doing to help struggling homeowners. It might surprise people to know that some banks have been embarking on forms of mortgage write-offs for quite some time. And that's not all that's been going on -- some of the other new-fangled "solutions" expected to be recommended by the Government's latest mortgage expert group, like negative-equity mortgages, are already in action, too. The reason the public don't know about these developments is simple -- the banks don't want the masses to know. Because as soon as you admit things like this are happening, you run the risk that everyone will want a piece of the action. The action so far has largely been limited to borrowers who've actually left their home by way of "volu...

Mortgage rescue deal could cost you up to €50,000... But it is still only option for thousands. STRUGGLING homeowners who make deals with lenders to reduce their mortgage payments face paying tens of thousands of euro in extra interest charges. New figures show that almost 70,000 people have now restructured their mortgages -- mostly by extending the repayment period or switching to 'interest only' payments. The Irish Independent can reveal that those with a typical €200,000 home loan who extend their mortgage term by just five years face paying €34,000 more in interest charges. And borrowers could end up paying more than €50,000 in extra interest for the same €200,000 mortgage. The startling figures have been produced by personal finance expert Brendan Burgess. They reveal the huge long-term costs for families seeking to ease the burden. But the Central Bank, which has been leading the way on policies to ease the mortgage crisis, admitted it had "no figures...

Vested interests: 38 politicians voting on Nama have extensive property portfolios... Almost 40 of the politicians who will vote on the critical Nama legislation designed to clean up the banks' toxic loans to property developers have extensive property interests both here and abroad themselves. The current register of interests, in which politicians are legally obliged to reveal any outside commercial interests, shows that, excluding the hundreds of acres of farmland owned by politicians, 38 TDs and senators have substantial development land and commercial property holdings. These range from the relatively modest three properties held by Taoiseach Brian Cowen, including one in Leeds, to Fine Gael's Alan Shatter, who lists joint ownership with an "other" of 14 investment properties in Dublin, London and Florida. Of the 38 politicians, 17 could be considered to have significant interests which, during the property boom, would have provided a comfortable income on their ...

€1 million price drop for well located property... DONNYBROOK €2.25m This four-bedroom house on Nutley Lane, which was extensively and expensively refurbished, has seen its price fall by more than €1 million EXACTLY ONE YEAR ago we carried a review of a house at 18 Nutley Lane in Donnybrook that had been bought as an investment with the intention of doing it up and sellling it on at a profit. The owners of the four-bedroom house purchased it in 2006, paid stamp duty at nine per cent, and spent several hundred thousand on renovations. In all, they probably spent in the region of €3.5 million. It went back on the market last November at €3.25 million, to snorts of disbelief from rival agents who were finding it difficult to shift property in the area for a good deal less. The price has been gradually dropping ever since, but the latest discount has landed number 18 at €2.25 million, a full million below its 2007 price. Selling agent Felicity Fox hopes this latest cut might tempt buyers w...

Desperation as luxury home prices halved... A DEVELOPER of luxury homes just 11km from Dublin Airport has been forced to slash the €1.4m sales price in half in a bid to attract buyers. Detached five-bed houses at Lynnwood in Ballyboughal, in north Co Dublin, originally went on the market for €1.4m. The 3,013-sq-ft (280sq-m) houses were first reduced by €450,000 in a bid to attract purchase-shy buyers. Then on Tuesday, the price was cut back another €100,000 to €850,000. By late yesterday, developers Area Building dropped the price by another €100,000 to €750,000. The move to cut the price in half came days after leading developer Taggart was forced into administration. Selling agent Paul Tobin said the homes were fully fitted out to a high standard. He insisted that the developer had spent €1.1m building each of the houses in the small scheme, once land values and construction costs were added together. Mr Tobin said the developer had been trying to sell the houses for months and was n...