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This week's vital property news: Social housing has been given a €680 million budget

Everything you need to know in one quick guided tour.

daft Source: Daft

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

The Big Movers 

Government accelerates plans for social housing

Minister for Housing Simon Coveney has said that a budget of €680 million has been allocated to local authorities around the country to build social housing. Speaking at a conference on Wednesday, the minister said that each local authority has been given a target for how many houses to build in its area.

Average age of first-time buyers rises to 34 

Real Estate Alliance agents have reported that the average age of the first-time buyer has risen to 34, increasing from 29 over the past decade. The estate agency group is predicting that home ownership may soon be an impractical dream for those in their twenties.

Under construction

Des Res

Rapper Sean “Diddy” Combs is selling his Manhattan apartment for a cool $6.5 million (€5.7 million). The three bedroom apartment is 2,300 square feet – that space in New York is a luxury in itself. The stunning views of Central Park are the apartment’s main attraction. Take a look inside here.

This week's vital property news: Social housing has been given a €680 million budget
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  • Sean Combs's apartment

  • Sean Combs's apartment

  • Sean Combs's apartment

  • Sean Combs's apartment

  • Sean Combs's apartment

  • Sean Combs's apartment

  • Sean Combs's apartment

  • Sean Combs's apartment

(All photos: Douglas Ellman Real Estate/Business Insider) 

And finally

An Irish architect has come up with a solution for people who are looking for more space in their house. Tom Duffy of Green Design Build says that adding another floor would work on 300,000 houses in Dublin.

Read: This 1,250-acre hotel estate could be yours – for €26 million

Read: ‘There’s nowhere to have any form of normal life’: The pressures facing Ireland’s homeless children

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About the author:

Roisin Nestor

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