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Dublin living costs are now higher than Abu Dhabi: 5 things to know in property this week

Plus Prince Charles and Camilla cause traffic disruption down south.

THE WORLD OF property moves quickly, and so it can be hard to keep up. But never fear: each week, we put together a five-minute digest of the week’s biggest stories, from government policy updates to new builds.

This week, a new Dublin Bus corridor threatens hundreds of front gardens, living costs are on the up again, and Prince Charles and Camilla cause traffic disruption down south.

1. Dublin is now pricier to live in than Abu Dhabi

original (1) Source: Shutterstock/Giancarlo Liguori

A new survey shows that Dublin has jumped 48 places to enter the top-100 list of the most expensive places to live in the world at number 72. That places the city above other notoriously expensive places to live like Abu Dhabi and Silicon Valley, and even central London.

The cost of living survey, commissioned by ECA International, investigates the varying level of household expense in cities around the globe.

2. New bus corridor plan will impact 1,300 front gardens

shutterstock_197566523 Source: Shutterstock/Pixavril

Sixteen new ‘core’ bus corridors’ are planned for Dublin, and their construction will require the removal of gardens and of land, while also impacting 1,300 front gardens.

The plan was announced at National Transport Authority briefing this week, with detailed plans for 16 routes to and from the city unveiled. Wondering if your garden will be affected? Read our explainer here.

3. Water shortages wreak havoc in Skerries

Source: TheJournal.ie/YouTube

Ongoing water supply problems came to a head in North Co Dublin this week, with night-time restrictions placed on residents in Skerries from Tuesday June 12.

Fingal County Council and Irish Water both say they are hopeful that if water conservation measures are implemented in homes and businesses, the restrictions will be be lifted in full for the weekend – but the move has affected thousands of residents. Skerries local Karen Power described the situation to TheJournal.ie as “absolutely ludicrous.”

4. Traffic restrictions across Kerry today for Prince Charles

Royal Cornwall Show Source: Tim Rooke

If you live in Cork or Kerry, you’ll probably have been affected by traffic restrictions today or yesterday, as the counties prepare for the arrival of Prince Charles and his wife Camilla, the Duchess of Cornwall.

The Royal couple visited Cork city on Thursday, and today will travel to Kerry to visit Derrynane, Tralee and Killarney. A number of traffic restrictions are in place across Kerry today. You can find details here.

5. Only six ghost estates remain in Nama

File Photo The Housing Minister Eoghan Murphy has announced a number of key actions to quickly deliver vacant homes back into use. Source: Mark Stedman

Eight years on from having a collection of 335 unfinished housing estates on its books, Nama has just six remaining. Speaking at the launch of Nama’s annual report earlier this week, chief executive Brendan McDonagh said that in 2010 there were 1,500 ‘ghost estates’ across Ireland, according to a study at the time.

The National Asset Management Agency had exposure to 335 of them. The annual report reveals that the overall number has been reduced to six: two in Wicklow, two in Cork, one in Galway and one in Donegal.

And not forgetting, this week’s property buzzword…

We’re breaking down the complicated world of property jargon, one buzzword at a time. This week it’s BER exempt. Since 2009 all buildings listed for sale or rent in Ireland are required to have a Building Energy Rating certification. However the rule does not apply to most protected or listed structures - like Lissaniskey House in this week’s Price Comparison feature.

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