Daft Daft

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

The Big Movers

The Housing Agency claims there are 230,000 houses already available

Conor Skehan of the Housing agency says there are 230,000 empty houses around the country which translates to almost two years’ worth of housing supply. Many are in need of repairs and connections to services but Skehan says policies need to be implemented to encourage the house owners to make the properties available.

Ulster Bank’s big sell off 

It has emerged that Ulster Bank is getting ready to sell off 900 family homes as part of a €2.5 billion property loan portfolio. It is believed that the properties will be bought up by foreign vulture funds, and there are concerns about what will happen to the mortgage holders once the sale is complete.

Under Construction

PA Archive PA Archive

• The housing crisis may make Intel stall its expansion in Cork as its site leader met with Cork County Council last week. Intel employs 5,500 people in Ireland with 350 of these in Cork. Rents in Cork city increased 16% on average in the last year.
• Clerys’ buyer, Natrium, have launched a High Court case against the Workplace Relations Commision. Inspectors were appointed following the closure of the shop in June 2015.
• The Temple Bar building that houses a controversial branch of McDonald’s has gone up for sale with a guide price of €6.25 million. The restaurant drew objections from local traders when it was first proposed back in 2011.

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Des Res

Fancy seeing where Beyonce and Jay Z spend their holiday time in the Hamptons?

The Sandcastle estate in Bridgehampton, New York costs them about $1 million a month (€890,000), is 31,000 square feet and includes a gym, cinema, child’s area with climbing wall, outdoor pool, spa and a 2,800 square foot master bedroom.