Daft Property - Irish Property News

Ghost estate builders got €870m tax breaks... But no cash to finish 'eyesores' as 33,000 houses stand empty: DEVELOPERS got almost €870m in tax breaks to build thousands of houses that no one wants , the Irish Independent has learned. And the Government yesterday admitted there was no money to finish off the 2,800 ghost estates in which 33,000 houses and apartments are lying idle. Local communities will be stuck with these eyesores for years as bulldozing them has also been ruled out. And planners will not face any sanction for their role in fuelling the property bubble. The first official audit of the number of unsold and half-built houses and apartments in so-called ghost estates published by the Department of the Environment yesterday showed the full extent of the problem. The report found: * There are 2,846 ghost estates containing 33,225 empty units ready for sale. * Cork has the most unsold homes, 3,427. Limerick City has the least, 119. * Planning permission

Ireland's Problems Have Euro Zone Worried... The PIIGS are not out of the woods yet. Ireland's ongoing economic woes have financial markets concerned that the country might need an EU bailout. A new round of austerity measures could trigger a downward spiral. Sean FitzPatrick, 62, couldn't help smirking when he appeared before the judges of the High Court in Dublin last Wednesday. FitzPatrick, who is Ireland's most famous banker, had already declared personal bankruptcy last summer, after accumulating €145 million ($195 million) in debt. His monthly income is currently €188, FitzPatrick's legal counsel informed the court. But he will only be a poor man if his wife Catriona leaves him. The six houses and the rights to a retirement fund which is worth millions belong in part to her, and cannot simply be seized by creditors. FitzPatrick owes the largest sum to the Anglo Irish Bank, where he served as chairman until late 2008. "The bank granted him and his relative

Too many estates in the capital have been left in a mess after developers pulled out... THE Government is being called on to change derelict site legislation to prevent vacant Nama land turning into a new generation of eyesores. The call comes as it emerged that there are over 3,700 unfinished houses in developments in south Co Dublin alone. Councillors have backed a motion seeking a review of the laws and a redress of the balance "between the interests of developers and local communities". It was brought before a meeting of the council by Cllr Dermot Looney (Lab), who said the existing legislation favoured developers who had been allowed to leave behind ghost estates and "other kips" after the property crash. Derelict At the same meeting it emerged that South Dublin County Council has 3,789 houses in 23 developments that have not been completed. The council will now write to the Minister for the Environment, Heritage and Local Government, John Gormley, to carry out

RTÉ is in Recession 'Aftershock'... A week long session of recession themed programmes will broadcast on RTÉ Television from May 9th – 14th on RTÉ. The series of programmes will examine Ireland’s recession – the effects it has had so far and what we can expect in the future. The programmes are tipped to reflect the after-effects of the boom and bust: from the reality of unemployment and life in so-called "ghost towns" to positive stories of businesses and families who are thriving in spite of the recession. Other programmes will look at the bigger picture, ask where to from here? and present challenging ideas as to how we as a nation can move on from the shock of economic collapse. Aftershock launches with ‘Ghost Land’ on Sunday, May 9th. Produced by RTÉ’s documentary unit ‘Ghost Land’ is an observational documentary that goes behind the figures to show the reality of life in the aftermath of our building boom, told mainly from the perspective of residents who have mo