Daft Daft

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

The Big Movers

Ireland’s biggest property developer says rents are unsustainable

IRES Reit CEO David Ehrlich has said that the imbalance in the rental market between supply and demand is unsustainable and he has never seen anything like it, according to a report in the Irish Independent. He says a key factor is the cost of new construction with a clear need for costs and regulation to come down.

Builders need an average of €330,000 to build a single house in Dublin

A report by the Society of Chartered Surveyors Ireland (SCSI) has claimed that the average costs to build a house are €150,000 while the rest is made up of VAT, professional fees, levies, and land acquisition costs.

Under Construction

Druids Glen Druids Glen

•  Druids Glen, one of Ireland’s top golf courses has gone into examinership this week. The company that owns the golf course has requested the protection of the high court following being appointed a receiver. 
• A documentary from TV3 addresses the concerns around problem developments such as Priory Hall and how the Department of the Environment had concerns before issuing the Floor Area Compliance Certificates required to sell a home.
• A recent survey by 123.ie has shown that almost 20% of people who do not already own their own homes feel it is beyond them, according to a report in the Irish Times. There were almost 3,000 landlords, home owners, renters, and people living with their parents surveyed.

TV3 TV3

Des Res

Peter Thiel, billionaire, venture capitalist, and co-founder of PayPal is selling his San Francisco home. If you wanted to see what $9.25 million (€8.17 million approximately) can buy you, look no further.