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Housing crisis: Ireland at risk of creating new property bubble - OECD

independent.ie

Housing crisis: Ireland at risk of creating new property bubble - OECD

- Just hours after the State's budgetary watchdog highlighted the risk of high public debt and the State's "minimal" adherence to strict EU spending rules, the Organisation for Economic Co-operation and Development (OECD) said the economy is "overheating". Property prices are rising rapidly on the back of strong growth and a shortage of housing, while property-related loans are increasing fast, the think-tank said

Categories: Business |  Real Estate | 
Places: Europe |  N.W. Europe |  Ireland | 

How 30pc of houses for sale can’t find buyers despite crisis

independent.ie

How 30pc of houses for sale can’t find buyers despite crisis

- A snapshot of almost 200 properties across 15 counties ranging from two-bed apartments to €1m-plus homes shows that 30pc, or 58, remain on the market despite the housing shortage. Experts said that in many cases, houses were overpriced leading them to be slower to trade hands. However, some expressed surprise at the lack of movement, given the housing crisis. Details of 193 houses and apartments for sale on Daft

Categories: Real Estate | 
Places: Europe |  N.W. Europe |  Ireland | 

Revealed: the rental trap that aspiring homeowners fall into

independent.ie

Revealed: the rental trap that aspiring homeowners fall into

- The true extent of how Ireland's rental trap has snared aspiring homeowners is revealed today as just 15pc of current renters believe they can acquire a home within the next year.

Categories: Real Estate | 
Places: Europe |  N.W. Europe |  Ireland | 

Well-known Celtic Tiger financier Quinlan eyes dramatic return to European property market

independent.ie

Well-known Celtic Tiger financier Quinlan eyes dramatic return to European property market

- One of the biggest names from the Celtic Tiger era, financier Derek Quinlan, is on the cusp of making a dramatic return to the European property market after assembling a consortium to buy an office tower in Brussels in a €1.2bn deal.

Categories: Business |  Real Estate | 
Places: Europe |  Ireland | 

MEPs using allowances to rent offices from themselves

maltatoday.com.mt

MEPs using allowances to rent offices from themselves

- MEPs are renting offices from themselves and banking the cash using a €39 million taxpayer-funded pot, an investigation by an EU-wide group of journalists into how MEPs use their €52,000 annual expenses allowances shows. According to Euronews.com, dozens of MEPs are paying their national political parties from their expenses allowance, and only 133 of the EP’s 748 members were willing to disclose documents on how they spent the money

Categories: Real Estate | 
Places: Europe |  Malta | 

AD: urgent state intervention in rent market required

maltatoday.com.mt

AD: urgent state intervention in rent market required

- Alternattiva Demokratika has called for an urgent intervention by the state in the rent market. Addressing a press conference in Valletta, AD deputy chairperson Carmel Cacopardo argued that the number of vacant properties has probably reached 80,000, which – on a national level – would mean that 31.8% of residential property on the island is vacant. “If you had to put all these properties together, it would result in a stretch of land, 20 times the size of Valletta,” Cacopardo said

Categories: Real Estate | 
Places: Europe |  S. Europe |  Malta | 

Mum 'stole €1,500 rent from landlord to improve home' for herself and three children

independent.ie

Mum 'stole €1,500 rent from landlord to improve home' for herself and three children

- A mum-of-three who stole rent allowance cheques sent to her landlord because she believed her house "wasn't habitable" has been jailed for three months.

Categories: Family & Parenting |  Real Estate | 
Places: Europe |  N.W. Europe |  Ireland | 

Real estate agents to be regularised within weeks of re-election, Muscat tells developers

maltatoday.com.mt

Real estate agents to be regularised within weeks of re-election, Muscat tells developers

- A pending KPMG report which states that the construction industry represents 17% of the gainfully employed population Real estate agents will be regularised within a few weeks of the Labour Party being re-elected into government on the 3 June election, Prime Minister Joseph Muscat said today. Speaking at a meeting where the Malta Developers Association presented the PL its proposals, Muscat said that competitiveness minister Emanuel Mallia has worked “very hard” on this legislation

Categories: Politics & Government |  Real Estate | 
Places: Europe |  S. Europe |  Malta | 

[WATCH] Busuttil’s dithering over IIP true risk to real estate sector, Muscat warns

maltatoday.com.mt

[WATCH] Busuttil’s dithering over IIP true risk to real estate sector, Muscat warns

- Prime Minister Joseph Muscat addresses a political activity in Birkirkara. Photo: Chris Mangion Simon Busuttil’s indecision and U-turns over the sale-of-citizenship scheme poses a serious risk to the real estate sector, Prime Minister and Labour leader Joseph Muscat warned. Addressing a political activity in Birkirkara, Muscat dismissed Busuttil’s warnings that the financial services and real estate sectors will be dealt a damaging blow if Labour wins the election as such a vote would amount to a green-lighting of corruption

Categories: Politics & Government |  Real Estate | 
Places: Europe |  S. Europe |  Malta | 

Movers with equity outbidding first-time buyers for houses

independent.ie

Movers with equity outbidding first-time buyers for houses

- The falling number of homeowners still in negative equity are usually unable to move. The recovery in house prices means the average mover borrowed just 66pc of the house value last year, said the Central Bank. First-time buyers were forced to borrow more, with the average new buyer obtaining a mortgage for 79pc of the value of their property. The figures were collected before the Central Bank changed its rules on the size of deposit first-time buyers need to have to receive a mortgage

Categories: Real Estate | 
Places: Europe |  N.W. Europe |  Ireland | 

Flat pack mansions, shipping containers and 3D printed homes… how the houses of the future could slash property prices forever

thesun.co.uk

Flat pack mansions, shipping containers and 3D printed homes… how the houses of the future could slash property prices forever

- THESE are the radical and ambitious homes of the future which could guarantee everyone a property of their own – and end the UK housing crisis for good. A scathing report released earlier this year blamed MPs’ lack of ambition for failing to address the country’s housing shortage. But there are ambitious companies and builders who want to change the way we look at housing forever

Categories: Real Estate | 
Places: Europe |  N.W. Europe |  United Kingdom | 

IMF warns State's Help-to-Buy scheme adding to pressures on housing market

independent.ie

IMF warns State's Help-to-Buy scheme adding to pressures on housing market

- The Help-to-Buy scheme introduced earlier this year offers first-time buyers who purchase a new-build home the opportunity to claim tax back of up to €20,000. It has faced criticism by opposition politicians and economists amid claims it is contributing to a rise in property prices. The IMF report says housing pressures have risen in Ireland, driven by a mismatch between renewed demand for housing and a lag in supply

Categories: Politics & Government |  Business |  Real Estate | 
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Places: Europe |  N.W. Europe |  Ireland | 

PN commits to reversing, reimbursing social housing rent increases

maltatoday.com.mt

PN commits to reversing, reimbursing social housing rent increases

- Nationalist Party leader Simon Busuttil Report by Stefan Paul Galea The Nationalist Party will reverse the increase in rent for social housing and will pay back the increment that was already been paid, PN leader Simon Busuttil said this morning. Addressing a press conference in Floriana, Busuttil said that increasing rent for people living in social housing amounted to taxing poverty

Categories: Politics & Government |  Real Estate | 
Places: Europe |  S. Europe |  Malta | 

Older homebuyers set to double their mortgage debt within a decade

thesun.co.uk

Older homebuyers set to double their mortgage debt within a decade

- OLDER homebuyers are set to double their mortgage debt within a decade, it is predicted. Among over-65s the amount they owe is expected to rise from £20billion to nearly £40billion by 2030. Rising house prices, tighter credit and low real wage growth will fuel the rise in loans, according to a study by the International Longevity Centre-UK think tank and the Building Societies Association

Categories: Real Estate | 
Places: Europe |  N.W. Europe |  United Kingdom | 

Quintessential English country village complete with 43 homes, church, pub, petrol station and 21-room manor house sold to ‘the kindest bidder’

thesun.co.uk

Quintessential English country village complete with 43 homes, church, pub, petrol station and 21-room manor house sold to ‘the kindest bidder’

- A QUINTESSENTIAL English country village complete with 43 homes, a church, pub, petrol station and 21-room manor house has been sold to “the kindest bidder” in an astonishing sale. The entire Yorkshire village of West Heslerton, which has been untouched for the past 50 years, was put up for sale in the hope a new owner would continue the “vibrant” community

Categories: Real Estate | 
Places: Europe |  N.W. Europe |  United Kingdom | 

Court berates estate agent who misappropriated €6,000 from his employer

maltatoday.com.mt

Court berates estate agent who misappropriated €6,000 from his employer

- Daniel Sapiano admitted to having hung on to €5,953 that he should have passed on to Frank Salt Real Estate in November 2015 and the preceding months A 25-year-old property agent has been given a suspended sentence and ordered to repay nearly €6,000 which he misappropriated from his employer. Daniel Sapiano admitted to having hung on to €5,953 that he should have passed on to Frank Salt Real Estate in November 2015 and the preceding months

Categories: Real Estate | 
Places: Europe |  S. Europe |  Malta | 

How renting in Greater Manchester is causing serious mental health problems

manchestereveningnews.co.uk

How renting in Greater Manchester is causing serious mental health problems

- A third of private tenants across Greater Manchester are spiralling into a ‘vicious cycle’ of mental health issues because of the state of their homes, according to a shock report. Research by homeless charity Shelter reveals thousands of renters across the region have been affected in the last year. From issues with repairs, damp and mould to threats of eviction, scores of tenants are said to be suffering in silence

Categories: Health |  Real Estate | 
Places: Europe |  N.W. Europe |  United Kingdom |  England |  North West |  Greater Manchester | 

Supply of homes for sale falls to historic low

independent.ie

Supply of homes for sale falls to historic low

- The startling figure is indicative of a rapidly worsening housing crisis, and part of a steady slide that has seen the numbers of available homes plummet since 2010. In Dublin, where the housing crisis is being most hard felt, supply fell further to about 0.5pc - 10 times less than would be expected in a "normal" market. The data, published in the 'Sherry FitzGerald Irish Residential Market Report for Q1', represents a 17pc drop on the 26,600 homes offered for sale 12 months previous

Categories: Real Estate | 
Places: Europe |  N.W. Europe |  Ireland | 

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  • Supply of homes for sale falls to historic low
    Supply of homes for sale falls to historic low

    , independent.ie

    The startling figure is indicative of a rapidly worsening housing crisis, and part of a steady slide that has seen the numbers of available homes plummet since 2010. In Dublin, where the housing crisis is being most hard felt, supply fell further to about 0.5pc - 10 times less than would be expected in a "normal" market. The data, published in the 'Sherry FitzGerald Irish Residential Market Report for Q1', represents a 17pc drop on the 26,600 homes offered for sale 12 months previous

     

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