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Dodgy builders and an overheated economy: 5 things to know in property this week

Your once-a-week look at Ireland’s most important property news.

EVERY FRIDAY, WE round up the most vital news items from the world of Irish property, to keep you in the loop on all things real estate-related.

Here’s what’s been going on across the country this week, from regulations against cowboy builders to a vote for Ireland’s favourite building…

1. No escape for dodgy builders under proposed new regulations

Animal Country Cottage Trees Donkey House Broken Source: Maxpixel

Proposed legislation making it a legal requirement for building companies to sign the Construction Industry Register of Ireland has been welcomed by industry representatives. Currently, businesses joining the register must show that they have tax clearance, insurance and practical experience of construction work.

2. Ireland’s largest-ever rental portfolio on sale for €425m

news2 Source: Savills

Fancy owning a collection of 1,200 apartments? It’ll cost you. A price tag of over €425m has been placed on Ireland’s biggest portfolio of rental properties, which went on the market this week via Savills. The sale from Marlet Property Group comprises units across several different Dublin sites.

3. Where are all the affordable houses?

news3 Source: Sam Boal

The Department of Housing has apparently watered down what it’s asking from developers in exchange for a €226m subsidy toward the construction of affordable housing, as TheJournal.ie reported this week following the Dublin Inquirer’s exposé of two department circulars.

4. Government watchdogs say property bubble could ‘overheat’ economy

shutterstock_166416104 Source: Shutterstock/bogdanhoda

Demand in Ireland’s property sector could cause the economy to overheat, as the construction industry rushes to meet supply shortfalls. That’s one of a series of cautionary notes issued this week by the government’s spending watchdog, who says further “stimulus” to our economy is “unwarranted.”

5. Tree houses and museums: Vote for your favourite Irish building

news5 Source: Kane Architects

A child’s play tower in Cork, an underground museum in Dublin’s IFSC and a café in Blackrock are just some of the locations on the shortlist for Ireland’s favourite building, collated by the Royal Institute of the Architects of Ireland. Voting for the Public Choice Award 2017 closes on June 16th.

And finally, this week in property jargon…

Property can be a complicated topic, and every week we decode yet another word, to give you the upper hand in conversations with estate agents (and fellow house-viewers). This week it’s Loan To Value (LTV), a ratio used by lenders to represent a calculated percentage of the estimated value of the property over the period of your mortgage loan.

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