Daft Property - Irish Property News

Russians ride in to rescue Irish apartments in Bulgaria... UP TO 50 Irish-owned apartments in Bulgaria have been bought by Russian property prospectors in the first six months of this year, a Dublin-based property business has said. An estimated 30,000 Irish citizens currently sit on more than €1bn of bad property investments in Bulgaria. Dylan Cullen, head of Appreciating Assets, said growing demand from the former Soviet country for the Bulgarian resorts means Irish people are finally able to offload their unwanted properties. Since the peak of the Bulgarian property-buying frenzy, from 2005 to 2008, Black Sea prices have fallen by between 35pc and 45pc, depending on location. But the Russians and Ukrainians, the two biggest buyer groups, have formed a view that this market looks to be near the bottom. Buyers are back looking at the Black Sea for holiday homes. "The Russians are becoming wealthier and as their middle class expands they want holiday homes," said Mr Cullen.

The next Allsop Space Auction will take place on 1st March 2012... Venue: The Shelbourne Hotel Dublin 2 Online Catalogue: Lot     Type     Location     Reserve Price will not exceed this figure 1    Investment Flat    Dublin 1    €135,000 2    Investment Flat    Dublin 8    €120,000 3    Investment Leasehold House    Galway City    €75,000 4    Investment Flat    Dublin 8    €90,000 5    Vacant Freehold House    Drogheda    €100,000 6    Vacant Freehold House    Enniscrone    €55,000 7    Vacant Freehold House    Dingle    €50,000 8    Investment Flat    Dublin 1    €175,000 9    Investment Flat    Blackrock    €170,000 10    Investment Flat    Letterkenny    €19,000 11    Investment Flat    Castletroy    €65,000 12    Vacant Freehold Building    Glenamaddy    €30,000 13    Vacant Freehold Building    Arklow    €55,000 14    Vacant Freehold House    Abbeyleix    €100,000 15    Vacant Freehold Building    Wexford    €170,000 16    Investment Flat    Dublin 22    €70,000 17    Inv

Dublin Property Market Draws Low Marks for European Investment... Feb. 2 (Bloomberg) -- Dublin, capital of the first euro-region country to report an economic recession, offers the worst real estate investment prospects among Europe’s major urban markets, Pricewaterhouse Coopers LLP said. The Irish capital ranked last among 27 European cities judged for their property investment and development opportunities, according to the annual survey of 520 real estate professionals. Dublin also came second to last, after Moscow, as the riskiest market. Irish commercial real estate values declined almost 24 percent in the 12 months ended Sept. 30, according to London- based researcher Investment Property Databank. The collapse of the housing market and restricted lending by banks contributed to Ireland’s slower economic growth, which in turn curtailed demand for commercial space. The Irish “were the longest at the party and now have the biggest hangover,” John Forbes, PwC’s head of real estate, s

2008 Review: AGENT SPEAK: Jargon busting guide - revised for the recession... BROWSING ON the internet, I came across a very helpful guide to property and financial jargon which was thoughtfully provided by Sherry FitzGerald. I felt obliged, however, to write up a revised version, which might be more suited to today's virtually non-existent property market. Approval in principle : valid for no longer than 14 days from date of issue. Appreciation : no longer applicable to Irish property. Arrears : the term most frequently used this year. Asking price : well, you can always ask, but don't expect to receive. Auction : an extraordinary event where people actually competed with each other in order to buy a property. No longer necessary. Auctioneer/estate agent : a dying breed (from starvation). Arrangement fee : another bank scam. Best and final offer : that's all you're getting. Actually, no, cut that by €50,000. Bidding : a reckless act. Booking deposit : the money the dev

More good news today? (...well for hopeful home buyers anyway!) Irish House prices look set to fall by at least 5pc in 2008. This is according to Austin Hughes (an IIB group Homeloans economist,) during a presentation on the housing market outlook in Ireland for 2008. He also added..."The housing slowdown has been a good bit more severe than I had anticipated."

Ireland Property - Daft Property! "There are two tellings to every story"... Story 1 is the average punters view: House prices in Ireland are dropping dramatically..."For Sale" signs are springing up everywhere like some prolific new species (albeit genetically modified .) The buy property and become rich fantasy is fading fast into the mists, like so many other myths and legends. For some negative equity is now a reality. The building industry is crumbling. Unemployment rising. Repossessions increasing... Story 2 is the vested interests view: The Irish property market is only adjusting slightly...There's no need for panic...The prices drops are good for homeowners as they will produce a more balanced and stable market. There's now good value for buyers etc. "A little of anything isn't worth a pin; but a wee bit of sense is worth a lot"... Property Bubble? The Irish property market has enjoyed unprecedented growth every year since 1993. To sta