LOVE PROPERTY? IN the market to buy a place to call your own? Either way, there’s a lot to be gained by staying on top of what’s happening in the world of housing.
Each Friday, we collect five of the week’s biggest stories, all in one place, so you can catch up on what’s been happening in the Irish property market. Consider us your weekly property cheat sheet.
Here’s what’s been going on this week…
…No, not that one. The US President’s company, TGIL Enterprises, has applied to build a flood defence wall outside his Doonbeg golf course, and local surfers are concerned that this will affect the surf environment.
National surfing group Irish Surfing said that they objected to the plans due to the “expected long term damage to the surf environment” the wall may cause. A decision is due later this month.
In a last-ditch attempt to prevent the tech giant building in Athenry, residents have taken their case to the Supreme Court. Tech giant Apple had been allowed to build an €850m data centre in Athenry, Co Galway in 2015, but the plans were halted amid objections.
The dissenting locals’ arguments have already been rejected by the High Court; if the Supreme Court takes the appeal, it will likely take several months to come to a decision, and even then, Apple has kept quiet as to whether the data centre will go ahead.
Galway City Council plans to spend €6 million addressing the “deficit” of all-weather tourist attractions in the city. The upgrades will focus on revitalising the City Museum and the nearby Spanish Arch to create a “medieval city walls experience” that would include viewing platforms, interactive exhibits and a new building for exhibitions.
Galway City Council hopes to raise three-quarters of these funds through a Fáilte Ireland grant, but has yet to secure planning permission for the expansion.
A plan to build a solar farm spanning 142 hectares has met with resistance this week, from locals who fear their countryside becoming industrialised. The proposed farm is being developed by Lightsource, a company based in Belfast.
Lightsource said it has “engaged directly with the local community” on this issue and that it has scaled the project down due to concerns; however, some residents are calling for the project to be scrapped. Laois County Council has not yet made a final decision.
Own property around Dublin’s docklands? You could be onto a winner. In a column for the Irish Times, Ken McDonald, Managing Director of Hooke & McDonald, predicts that building and development in the docklands area is set to significantly increase in 2018.
McDonald notes, however, that most of this building will be comprised of offices and not apartment buildings. In the column, he also predicts a ‘raft of launches’ of new homes in Dublin’s commuter belt, with rent prices continuing to rise without an increased supply.
We’re breaking down the complicated world of property jargon, one buzzword at a time. This week, it’s AMV, or Advised Minimum Value. This is a value affixed to a property before an auction: it is usually the minimum amount that the seller is willing to accept. The property then goes to auction, with the AMV being the lowest bid.
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