out and about

The Irish Property Bubble The Republic of Property
#1

I live in midleton.
and i am observing the following over the last twelve months.

*Lots and lots and lots of domestic property up for sale
*Same property not shifting since before christmas
*Large developments being shut down until the market picks up
*Current developments on a go slow
*a HUGE amount of commercial development being thrown up which is empty, in particular, aroung the new Tesco, units empty for near 12 months now
*Big push from the large developers on advertising

In particular, the amount of commercial space being generated is odd,
I just do not see a demand for it.

Another point is the money sloshing around midleton.
I though i was doing well to have a 99(galaxy) (wife / kids) and a 98(626) car (me-work)
Yet when i do the school run, the amount of money driving into the car park is outstanding, 4x4’s audi’s mercs, gucci, etc etc.

Where is all this money coming from???

#2

Assuming that developers sold some off plan, what happens if to those who’ve put down a booking deposit? Does a small section get built and the resident have to live on a building site until things pick up, or do they get the deposit refunded?

#3

The Money Tree-chet of course :smiley:

#4

I seriously doubt that.