Note: I’m a fan of the US property blog http://www.thehousingbubbleblog.com – and I find the blog’s habit of collating links to relevant news stories to be very helpful in assessing the media’s take on current events.
From time to time I may collate news stories relevant to both the Irish market and overseas markets where the Irish appear to have carried out a significant amount of investing/speculation [delete as appropriate] in recent years.
This will be a “here’s what you may have missed in the past few days” collation, whereas for up-to-the-minute articles, keep your eyes glued on http://www.thepropertypin.com
The Sunday Independent reports that the hitherto insatiable demand for overseas property seems to be diminishing. It will be interesting to see if this feeds into the projected/actualised capital appreciation in these markets, and whether it will have any knock-on effects on confidence at home.
The Sindo also continues it’s crusade against stamp duty, the article uses the slightly more emotionally-charged phrase ‘home tax’ to describe stamp duty.
Unfortunately I don’t have a link for it, but the Sunday Times lead with the a piece entitled “The ten-year house price boom is over”. The article went on to claim that house prices in Dublin have fallen by 3% by October, and Galway’s by 10%. The front cover of their property supplement showed a gravestone, which was just a tad over-dramatic IMO. An image of this cover is here.
The Irish Independent reports on fears of slowdown in the Spanish property market.
The Kilkenny People reports that house prices in the county have increased, apparently bucking the national trend.
Writing in the Irish Times’ Property supplement, Marc Coleman argues that the reckless lending seen in the US market, will not affect the fundamentals in the Irish market. He also makes the interesting claim that some apartments in ‘outlying’ areas of Dublin are being sold for 20% less than the asking price.
March 23, 2007 at 11:12 am
Article on Spanish/Irish property boom in the FT.
http://www.ft.com/cms/s/6c12b602-d552-11db-a5c6-000b5df10621.html
The key part is
Another example is Ireland. In Ireland, the GDP share of construction and housing is even higher, at 20.7 per cent. While the performance of the Irish economy during the past few decades was remarkable, there are some deep underlying structural problems that are now surfacing. In particular, Ireland has been fast losing competitiveness within the eurozone – not a subject that has been talked about much outside Ireland recently. With interest rates rising and a slow return to sanity in the financial sector Ireland is going down the same route as Spain, perhaps only faster.
Great work on the automated price drops search.
Regards
March 23, 2007 at 3:50 pm
The ever-resourceful whizzbang has provided an image of the cover of that Sunday Times property supplement:
http://img258.imageshack.us/img258/3386/dsc00299sx2.jpg
March 26, 2007 at 1:02 pm
“This will be a “here’s what you may have missed in the past few days” collation, whereas for up-to-the-minute articles, keep your eyes glued on http://www.thepropertypin.com”
Hey is this a quote from a Irish paper? Someone got a link…
March 26, 2007 at 3:26 pm
“Hey is this a quote from a Irish paper? Someone got a link…”
Sorry to disappoint you Open Window, but that’s just *my* reccommendation as to where to get links to the latest stories