Daft Property - Irish Property News

Ireland poses real threat to future of the euro, says top think-tank... Ireland has been identified as one of a small number of countries that poses "a real risk" to the future of the euro, according to reports in a Sunday newspaper. The report cites research from influential German think-tank CESifo, which warned of "very serious" slowdown in the Irish economy three years ago. The new research reportedly lists Ireland and Greece as two countries where international money markets see a significant risk of a sovereign default or an exit from the single currency. This perceived risk is reflecting in the markets for Irish and Greek debt, CESifo says, even though leaving the eurozone is not on the political agenda. Ireland, along with Finland, also comes in for a mention in CESifo's list of countries for which eurozone membership is "not optimal", due to our heavy reliance on trading with non-eurozone countries. Stable Against the backdrop of last week'

Green minister fears Greek-style crisis if banks don't get houses in order 'fast'... Ireland could be plunged into a Greek-style crisis unless the banks get their house in order "quickly''. That's the stark warning issued by the Communications, Energy and Natural Resources Minister Eamon Ryan yesterday. "The final bill for everything, that is all the madness in mortgages, the developers and general finance could be as high as €34bn," he warned. "We have done a job in projecting the Government's ability to manage its own finances. Now we have to convince the outside world that the banks have the capacity to manage their own finances," he said. Mr Ryan also noted that within Government, the view was "the sooner we do it the better''. Referring to the improved image of Ireland in the international community, he said of the banking crisis: "We have a limited window of opportunity to resolve this now. If we miss this opp

Kevin Myers: Failure is actually what independent Ireland has always done best. We even failed at prosperity... THE Taoiseach's recent 1916 speech, and the warm reception the references to the "heroes" of the GPO got from the Dublin Chamber of Commerce, were depressingly illuminating. They confirm that our political and economic classes are steeped in denial and hallucination. Yes, Mother Ireland has reverted to ancient delusional habits, and is sustained by illicit bottles of poteen around the national household, labelled 1916. And whenever the old woman feels another attack of the vapours of 21st century realism attacking her, she reaches for a bottle, yet again. A polity which feels the need to recycle ancient events as a modern inspiration is in dire trouble. That's the real lesson from the Taoiseach's rodomontade of last week. You can look at these things mythically or you can look at them literally: either way, no interpretation of the event of 1916 is of an

David McWilliams: We're all fools if we think recovery plan is patriotic... It's been nearly 18 months since the Government announced its bank guarantee. Anglo Irish Bank was nationalised over a year ago and it is coming up to a year since the Government first mooted the NAMA plan. Yet nothing has actually been done since then. Not a single loan has been transferred to NAMA. There has been lots of talk, lots of bluster and point scoring, but still credit in the economy contracts, house prices continue their slow strangling decline and, most significantly, the rest of the world has moved on. Why the delay? One interpretation is that our government doesn't understand that speed is crucial. If we compare our stagnation with other countries that have been faced with national bankruptcy, we compare dreadfully. Look at what the Swedes achieved in their crisis of 1993 when their property market collapsed along with their banks. In the four months between November 1993 and February

New report will show number of empty homes well above 300,000... With so much vacant property about, councils are now actively seeking homes to rent from a minimum of 10 years for those on waiting lists... A REPORT being finalised by planners at UCD for publication this month is expected to conclude that the number of empty houses or apartments in the State may be even higher than the 302,625 figure suggested recently by their colleagues in NUI Maynooth. Dr Brendan Williams, lead author of the UCD report, told The Irish Times that “our figures might be higher”. He had also visited some uncompleted housing estates last weekend and they painted a “bleak picture” of the current levels of vacant housing. The 300,000-plus figure, calculated by the Maynooth-based National Institute of Regional and Spatial Analysis (Nirsa), took a lot of people by surprise – especially as the Construction Industry Federation had been sticking to a vacancy rate of around 40,000. It was also way above the Depa

Irish among most pessimistic in EU about economy - survey... IRISH PEOPLE are among the most pessimistic in Europe about the economic and employment situation in their country and most people expect the situation to be worse in 12 months’ time, new EU research suggests. Although the research also suggests that the Irish are among the most satisfied Europeans with the area they live in, contentment with the public administration is very low and the cost of living is a major source of unhappiness. In a report drawn up amid signs that the world’s worst recession since the 1930s may be bottoming out, the European Commission warns that the social consequences of the downturn may take months or even years to manifest themselves fully. Irish attitudes to the situation were gauged in a survey of 1,007 people in May and June last year, following months of bad economic news. Some 90 per cent of Irish respondents described the situation as bad, one of seven countries in which nine out of 10 peopl

It's time to quiz planners for their part in the crash , says ISABEL MORTON AS THE next few rounds of the blame game get going, including the banking enquiry, one wonders when our 88 different planning authorities and more importantly, our planning appeals board (An Bord Pleanála), will get much more than a sharp slap on the wrist for their part in the property fiasco which resulted in some 300,000 homes lying empty. No doubt individual planning authorities, much like the banks and the developers, were only interested in what was going on in their own back yard, but one would have to wonder how and why An Bord Pleanála upheld permission for so much of what was built during the Tiger days. An Bord Pleanála’s mission statement is “to play our part as an independent body in ensuring that physical development and major infrastructure projects in Ireland respect the principles of sustainable development and are planned in an efficient, fair and open manner”. Surely, as an independent bo