THIS WEEK IRISH Water customers received their first bills through the post.

There was some controversy with some people being hit for more than €1,000 due to leakages.

A coffee kiosk in Ballsbridge also sold for €250,000. 

The Big Movers

Ahead of the field

Ireland had the biggest increase in house prices in Europe over the course of 2014 – new figures from Eurostat have revealed.

In total there was a 16.3% increase – the biggest in the EU and broader European area. Malta and Sweden followed in second and third place with increases of 11% and 10.4% respectively.

Chief economist with Daft.ie told TheJournal.ie in an interview that these increases are unlikely to continue going forward thanks to the Central Bank’s new rules on mortgages.

Eurostat Eurostat

Big money

A coffee kiosk in the Ballsbridge area of Dublin has sold for €250,000.

At €70,000 per square metre, this makes it the most expensive property in Ireland according to a floor-space-to-sale-price ratio.

The kiosk is currently operated by Silverskin Coffee Roasters Ltd who have a short-term contract with it until 2017.

Daft.ie The coffee kiosk in Ballsbridge Daft.ie

Not going ahead

A €4.7 million project aimed at turning the O’Devaney Gardens flats into accommodation for the homeless has been shelved by Dublin City Council.

This comes after a vote by councillors earlier this week. The motion had been put forward by Lord Mayor of Dublin Christy Burke.

Issues with converting the flats were the temporary nature of the accommodation and that individuals would only be staying there short term.

Currently only fourteen of the units contained in the flat complex are occupied.

Under Construction

• Ireland’s ongoing issue with the under supply of houses looks to continue with news that not enough new units are being planned. 
• An entire village in Kildare has come onto the market with an asking price of more than €6 million. 

Part of the village in Co Kildare

• The first batch of Irish Water bills were put through people’s doors this week, with some individuals receiving bills for more than €1,000. 
• A seaside castle in Galway has gone up for auction with a reserve of between €1.8 – €2 million.  

Des Res

A house built into a boulder in the Arizona desert in the United States has come onto the market for $4.2 million (€3.9 million). The property is 60% made from a boulder with the building incorporating this into its design, according to Business Insider.