EVERY WEEK, WE bring you all the news you need to know about the property market.

The Big Movers

Rental properties drop to lowest number ever

The number of properties available to rent in Ireland has hit an all-time low with the latest Daft.ie report showing that there are only 3,600 properties to choose from in the whole of Ireland.

There’s also a shortage of office space across Ireland

According to a recent DTZ Sherry FitzGerald report, there is a shortage of office space nationwide with a vacancy rate of 4.5% in Galway and 13% in Dublin.

Under Construction

Savills and Knight Frank Savills and Knight Frank

• There is a very swanky new office building in the works for Burlington Road, Dublin 4 called Vertium. Construction has already commenced on the €170 million, six-storey, 172,000 sq ft office building. 
• Share prices for the biggest residential landlord, IRES REIT, have dropped as a result of the rent controls implemented by the government, according to a report in the Irish Independent.
• Plans have been put before Dublin City Council to pedestrianise College Green with vehicle access restricted to buses, cyclists and possibly taxis. In addition, Suffolk Street will also be pedestrianised if the plan goes ahead.

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Des Res

Fancy living underwater? No, seriously. If these residences in Dubai go ahead, you soon can – although you’ll need about €2.4 million to buy one.