Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Ireland - Hundreds Of Ghost Estates Identified As Hazardous To Residents

Recommended Posts

http://www.irishtimes.com/newspaper/frontpage/2011/0218/1224290141260.html

SOME 350 dangerous or “developerabandoned” housing estates, in need of urgent work for the safety of residents, have been identified in a Government report published today.

The developments represent almost 8,000 houses and account for about one in six of the 2,800 “ghost” estates identified last October by the National Housing Development Survey, which was commissioned by the Department of the Environment.

Funding of €5 million will be available to local authorities from today to address the most immediate public safety hazards in the 348 estates that are partially occupied by residents but have never been completed.

The fund would provide an average of just €14,000 per estate. However, Minister of State for Housing Michael Finneran said yesterday that the money was not intended for the completion of developments but to address immediately the most pressing problems, such as open excavations, unprotected upper floor levels in half-built housing, or uncovered manholes.

The Advisory Group on Unfinished Housing Developments, set up last November to devise plans for the “completion or resolution” of the ghost estates, has today published its draft report, which recommends immediate action to deal with the 348 developments.

These estates should be dealt with as a priority, as they have an occupancy level of less than 50 per cent, meaning there are large numbers of vacant and partially completed structures in developments where people are living.

Cork County Council is identified by the group as having the highest number of estates in need of urgent attention, with 52 of the 348 estates. Cavan, which became a commuter county for Dublin during the boom years, has 34.

I wonder what this has done to property values on these unfinished estates where people live?

I'm sure €14,000 per estate isn't going to stretch very far and probably won't come close to ensuring the estates are safe.

Share this post


Link to post
Share on other sites

http://www.irishtimes.com/newspaper/frontpage/2011/0218/1224290141260.html

I wonder what this has done to property values on these unfinished estates where people live?

I'm sure €14,000 per estate isn't going to stretch very far and probably won't come close to ensuring the estates are safe.

Probably means they can't even give them away.

I saw a prog. about these - a woman who'd bought more or less at the peak was stuck in a neg. eq. house she had no hope of selling at any price. Isolated on an estate with hardly any of the houses sold. Felt so sorry for her - just an ordinary person wanting a reasonable home for her family.

There's a piece in the Times today about 'prime' Irish property. 'Difficult to sell' even at 50-60% off peak prices.

Share this post


Link to post
Share on other sites

You could buy quite a few manhole covers for €14,000, and it's stuff like that which is being talked about.

And then the cost of labour?

Edit to add:

Or are we going to get the people living on the estates to put the manhole covers on, fill in the holes etc...?

Edited by interestrateripoff

Share this post


Link to post
Share on other sites

Probably means they can't even give them away.

I'm not sure that that's the case .. Have a good rummage around the property pin .. but my impression is that NAMA has supported the developers and the banks in these cases and that these houses are just simply not for sale .. or they are for sale for silly money (ie close to peak prices) ..

An Irish friend of mine was looking at moving back to Ireland. He looked at all the options and a house in a ghost estate (finished) was €250,000 but he could buy a single plot with planning permission for €12,000 then build his own house .. (father in law is a retired building contractor) and it would cost €82,000 for what he wanted ..

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.