Dublin's prices among world's most costly

Dublin’s prices among world’s most costly
By Eamon Quinn International Herald Tribune

Published: September 7, 2006

DUBLIN Bill Rigby owns an electronics plant in southwest Ireland that he and his wife, Sheila, run from their homes in Southern California, Munich and Fort Lauderdale, Florida.

But they have yet to be tempted to buy property in Dublin. “Even compared with the U.S., where we own places in Southern California and Florida, prices are higher here,” Rigby said. “Prices in Ireland are among the highest anywhere in the world.”

*At the end of 2005, the Paris-based Organization for Economic Cooperation and Development reported that Ireland had had 53 successive quarters of property price increases, the longest property boom it has recorded. Nine months later, nothing has changed, although the OECD has said the country’s real estate may be overvalued by as much as 20 percent and the governor of the Irish Central Bank has voiced concerns that rising interest rates could lead to a sharp downturn.

iht.com/articles/2006/09/07/ … ublin1.php

I wonder would KMAC & OB have ever listned to people like Bill Rigby, since they only listened to thos WITH money.

Interesting to note we could have the longest property boom in recorded history? Any one got any facts or statistics to bac/counter this point?

If you skip to the end of the article you find this littel gem,

*The Irish, backed by rising home values, are becoming a major force in their own right in the international property market, especially in France, Spain and the Black Sea resorts.

For some time the foreign sales of second homes on the Continent have paralleled the expansion of low-cost airline routes, what some agents call the “Ryanair effect.”

The chief executive of Ryanair, Michael O’Leary, said in August that now, when he inaugurates any direct flight from Dublin, the real estate agents who sell vacation homes to the Irish are among the first to fill his planes. International Herald Tribune*



I wonder whatever happened to Kmac?

Probably flippin burgers over in the United States of Advertising.

Huge property mess over there.