EVERY WEEK, WE bring you all the news you need to know about the property market.
The Big Movers
Rent freezes
The IMF is warning that the government’s two-year rent freeze could have undesirable effects – such as stopping developers from building new properties, and thereby putting even more pressure on the current housing situation.
New social housing in Dublin
There are 44 new social housing units for north Dublin on the way. There will be 31 three-bed and 13 four-bed houses at the development in Waterville, Dublin 15. They will have the latest energy efficient technologies such as solar panels.
Additionally, Minister Alan Kelly says that 200 social houses will be built this year in total, ‘significantly higher’ than the 20 built in the first half of 2015.
Under Construction
- The world’s largest hotel company is about to be formed with the merger of Marriott International and Starwood recently.
- In a report commissioned by AA Home Insurance, homeowners who bought in the boom are paying on average €6,257.49 more for their mortgages.
- Five Irish shoppingscentres have been purchased for €175 million this week by investment firm Davidson Kempner making it the biggest sale of retail space ever in Ireland.
Des Res
Michael Jordan is selling his Chicago mansion – fancy a look inside? It’s on the market for almost $15 million (€13,846,000) – a steal.
All photos The Agency Real Estate via Business Insider.
And Finally…
The Daft.ie Report came out this week and showed that rents jumped significantly in the run up to the two-year rent freeze, with Galway and Cork having their biggest increases in at least 10 years.
Read: Rent freezes and the homeless crisis loom large
Also: There’s a gorgeous Georgian mansion for sale in Cork
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