I know it’s referred to already, but the headline is startling…
Building land values outside Dublin have fallen by as much as 90pc from their peak levels, according to CB Richard Ellis Group.
Development land in Dublin has dropped on average by “at least” 50pc, CB Richard Ellis said in a report today.
“It would be premature to say that the property market is likely to experience a rebound in 2010 but there are certainly signs that sentiment is slowly improving,” said Guy Hollis, the managing director of the company’s Irish unit.
“The reality is that it is going to be 2011 before we see any discernable turnaround in performance.”
independent.ie/business/pers … 14252.html
johnboy
January 14, 2010, 4:47pm
#2
Obviously this only applies to the value of land backed by loans that are NOT going into NAMA.
Why do you think the NAMA land would be any different to the average. Or have I missed the sarcasm.
On Christmas Eve, babe, the Department of Finance said to me, NAMA’ll be a better one…
Eh, viewtopic.php?f=50&t=27238
NAMA land has an LTEV of 25%… other land is presumably stuck with the original 10%…
needle
January 14, 2010, 8:42pm
#5
grasshopper:
I know it’s referred to already, but the headline is startling…
Building land values outside Dublin have fallen by as much as 90pc from their peak levels, according to CB Richard Ellis Group.
Development land in Dublin has dropped on average by “at least” 50pc, CB Richard Ellis said in a report today.
“It would be premature to say that the property market is likely to experience a rebound in 2010 but there are certainly signs that sentiment is slowly improving,” said Guy Hollis, the managing director of the company’s Irish unit.
“The reality is that it is going to be 2011 before we see any discernable turnaround in performance.”
independent.ie/business/pers … 14252.html
More contra-intuitive propaganda from the mainstream media.
Rather than try to pump prices, they are now stating that prices are already down 90%.
The message remains unchanged; ‘theres never been a better time to buy’.
As I said on another thread, beware the power of the media.
johnboy
January 14, 2010, 8:44pm
#6
Sarcasm it was. It is very difficult to deal with any NAMA related issues without it. We all knew NAMA would probably loose taxpayer money. I am only now beginning to realise exactly how much money will be lost.
needle:
More contra-intuitive propaganda from the mainstream media.
Rather than try to pump prices, they are now stating that prices are already down 90%.
The message remains unchanged; ‘theres never been a better time to buy’.
As I said on another thread, beware the power of the media.
Correct. But what the funk is this crap??!!?thepropertypin.com/viewtopic.php?f=4&t=27490
The ‘never been a better time to buy’ has been around for ages but the new ‘they can’t stay this cheap for long’… ‘god damn its a 90% off extravaganza’… ‘get in here and show me the money’ shit has been going on for the past couple of months.
grasshopper:
I know it’s referred to already, but the headline is startling…
Building land values outside Dublin have fallen by as much as 90pc from their peak levels, according to CB Richard Ellis Group.
Development land in Dublin has dropped on average by “at least” 50pc, CB Richard Ellis said in a report today.
“It would be premature to say that the property market is likely to experience a rebound in 2010 but there are certainly signs that sentiment is slowly improving,” said Guy Hollis, the managing director of the company’s Irish unit.
“The reality is that it is going to be 2011 before we see any discernable turnaround in performance.”
independent.ie/business/pers … 14252.html
I tell you what Guy, show me a site, suitable to my needs that is currently available & has dropped in price by 90%, & I’ll buy it !
Go on, should be an easy sale for you !
fishfoodie:
I tell you what Guy, show me a site, suitable to my needs that is currently available & has dropped in price by 90%, & I’ll buy it !
Go on, should be an easy sale for you !
Funny sir should mention that!
We just happen to have a very eager seller who has a bit of prime Dublin commercial real estate worth 90% less than it’s purchase price.
https://www.finfacts.com/artman/uploads/3/Irish_glass-bottle-site-Ringsend_Dublin_Nov112009.jpg
A bit of the old contamination and such - but nothing to worry about.
fishfoodie:
I tell you what Guy, show me a site, suitable to my needs that is currently available & has dropped in price by 90%, & I’ll buy it !
Go on, should be an easy sale for you !
Funny sir should mention that!
We just happen to have a very eager seller who has a bit of prime Dublin commercial real estate worth 90% less than it’s purchase price.
https://www.finfacts.com/artman/uploads/3/Irish_glass-bottle-site-Ringsend_Dublin_Nov112009.jpg
A bit of the old contamination and such - but nothing to worry about.
Mmmm, I was planning a more modest abode, but I suppose I might be able to get the bank to loan me a few mill
[Edit] Anyone know what the turnover of the old bottle factory was ?
There was uproar when it closed because it was (I believe) the only site where glass could be recycled. So it must have had some value.
{rant over}