Daft Property - Irish Property News

25 of the 28 units in a new development at Fostertown Place in Swords were purchased by Ryanair for their cabin crew. TAOISEACH LEO VARADKAR says he does not have any issue with Ryanair or other companies buying up almost entire housing estates for their staff. He said there is a big difference between companies like Ryanair bulk-buying houses and apartments compared to investment funds. “We are building over 30,000 new homes now every year,” he said. “If you think about it, that’s 70,000, 80,000 or 90,000 bedrooms every year so we are finally seeing housing being built on scale,” Varadkar said. “We want to scale that up this year and next year as well because we do have a rising population and family sizes are getting smaller, so we need more housing and we are making progress,” he said. “In relation to Ryanair specifically, I don’t think it is the worst thing that a company would buy accommodation for their staff. It’s not the first time this has happened, it has be...

The properties are now being advertised for rent at €3,175 per month. AN INVESTMENT FUND has purchased 85% of the homes in a new housing estate in north Dublin. Forty-six of the 54 units in Belcamp Manor in Balgriffin, Dublin 17 were sold last month for over €21.5 million. A filing on the Property Price Register shows that the properties were purchased for €21,585,904 in December 2023. Sources in the industry have confirmed the houses were bought by an investment fund, but the name of the firm has not been revealed. The Land Registry has not yet been updated to reflect the new owners. The houses, which were launched by estate agents Knight Frank in December 2022, are fully furnished and located on the Malahide Road. Occu, a private rental sector company owned by Sw3 Capital, is now advertising the four-bedroom properties for rent at €3,175 per month. In a statement, Occu – which has properties for rent at 15 other locations in Dublin – made clear it does not own the property, de...

Kerry will see the sharpest spike in prices – as much as 15% – while prices in Kilkenny and Laois could see an increase of 10%. HOUSE PRICES OUTSIDE Dublin are to increase by an average of 4.9% in the next 12 months. Kerry will see the sharpest spike in prices – as much as 15% – while prices in Kilkenny and Laois could see an increase of 10%. That is according to The Sunday Times Nationwide Property Price Guide. Monaghan, Louth and Westmeath are the only counties where prices are expected to remain the same. In some counties, such as Wexford, Waterford, Mayo and Offaly, it is now generally cheaper to buy than it is to build a home. Ballinlough and Model Farm Road in Cork (both €490,000), are among the most expensive areas for three-bed semi-detached houses. Greystones, Co Wicklow, is also on the pricey side (€605,000), as a popular commuter town. The three most affordable areas for the same house are Mohill (€155,000) and Ballinamore (€160,000) in Co Leitrim, along...

Although the Government certainly isn’t lying when it says that the 32,695 new homes completed in 2023 represents the largest annual delivery in 15 years, it shouldn’t try to insult people’s intelligence “There are three kinds of lies: lies, damned lies, and statistics.” As lines go, it’s one that’s been attributed over time to American writer Mark Twain and British prime minister Benjamin Disraeli among others. Given its essential truth, it’s unsurprising that the saying continues to be employed to this day whenever someone is suspected of playing fast and loose with the facts to suit their own agenda. Although the Government certainly isn’t lying when it says that the 32,695 new homes completed in 2023 represents the largest annual delivery in 15 years, it shouldn’t try to insult people’s intelligence. Rather, its representatives should have the decency to put the statistics into an appropriate context by acknowledging that the level of homebuilding dropped off a cliff after 200...

While 80% of people over 40 own their own home just a third of adults under 40 do. This is disastrous for social solidarity and cohesion Changing this system of policymaking requires a government to act in a way that may be uncomfortable for some. Governments have a horizon of no more than five years, and the housing issue requires long-term planning. The Department of Public Expenditure and Reform was intended to tackle some of these problems. According to its website its remit is to “drive the delivery of better public services, living standards and infrastructure for the people of Ireland by enhancing governance, building capacity and delivering effectively”. So how is the challenge of delivering homes for people in 2024 and beyond going to be met? The extent of the problem is visible in the move by companies, including Ryanair, to buy properties to house staff. Ryanair has, justifiably, defended its right to do so. IPAV has long articulated its views on how to improve supply an...

The middle classes bear the brunt of crippling hikes in cost of living Cost of living survey The real cost of living is rising much, much faster than official figures suggest... The Sunday Independent/IIB Homeloans Cost of Living Index reveals who is being squeezed hardest and who can keep spending like there’s no tomorrow... THE MIDDLE CLASSES Cost of living up 14% in just two years THE Irish stock market is down 65 per cent, property prices are down about 20 per cent and Lansdowne Road won't be open for another two years. It's been an awful time for Ireland's aspiring middle classes. They have been hockeyed as their cost of living has risen at about one and a half times the national average. If you've bought a des res in Ranelagh, you'll feel the pain of a 68 per cent jump in mortgage repayments over two years. Especially if your house has lost 20 per cent of its value. Education costs are up 11.3 per cent. Insurance costs are up 3.6 per cent in the last year. Hea...