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Trump's Irish court battle and new powers for Nama: 5 things to know in property this week

Lawyers for the US leader appeared at a district court in Clare this week.

WITH EVER-CHANGING policies, new builds and a seemingly endless housing shortage, the world of property can be difficult to navigate.

Each week we round up the most important property happenings of the last seven days, to keep you up-to-date as the weekend approaches.

So, what’s been going on this week?

1. Nama could start building homes on the State’s behalf

NAMA has sold almost Û800m of loans in private deals Source: Sasko Lazarov

Leo Varadkar says the Government is examining the possibility of giving the National Asset Management Agency (Nama) additional powers to build on behalf of the State.

“We are examining the possibility of repurposing Nama to develop lands on behalf of the State, to step in where the private sector has failed,” the Taoiseach said at the Fine Gael think-in in Clonmel on Thursday.

2. Trump’s lawyers appear in Clare court

Trump Hurricane Irma Source: Pablo Martinez Monsivais

Lawyers for Donald Trump appeared at Kilrush District Court in Clare this week appealing to have a €14,095 judgement against him set aside.

Cork civil engineer John Lennon secured a judgement of €14,095 against Trump for an unpaid bill on June 15th 2017. Earlier this year, President Trump resigned as a director of the two Trump Doonbeg resort firms just days before he was sworn in as President.

3. This Irish footballer’s Wexford pub could be yours

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Former ROI footballer Stephen Hunt is selling his Wexford pub and restaurant for €1.2 million. Tides Gastro Pub in Rosslare was opened by the soccer star in 2014.

The 264 sq m premises and its contents are now up for sale, with what the brochure calls a “New England/Cape Cod nautical theme” inside.

4. Cork locals protest against Apple building works

shutterstock_553623685 Source: Shutterstock/hans engbers

Locals in the Ardcullen area of Cork held a demonstration outside the site of tech giant Apple this week, protesting against the disruption that “hectic” building work is having on the community.

Apple is in the process of extending its current site, building a four-storey office block with room for an additional 1,000 staff.

5. Dublin to blame for commuter belt price hikes

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Lack of supply in affordable homes is pushing buyers out of Dublin and onto Ireland’s commuter belt, resulting in price hikes outside of the capital.

A new study by MyHome.ie based on an analysis of the Property Price Register shows the number of house sales has increased by 8.4% in the first half of 2017.

And finally, this week’s property buzzword…

We’re breaking down the mystifying world of property phrases, one buzzword at time. This week it’s PC sum (or prime cost sum), an allowance for building materials or fittings on which the buyer has yet to make a final decision. If you’re buying a new build, it’s a term you’ll likely spot in contracts.

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