Limerick Auctioneers and Estate Agents believe that the demand for accommodation in Limerick is so strong that building will begin again in the city very soon. Once house prices reach a level where the construction sector will be able to make a profit they will start creating developments again. Limerick agents are optimistic for 2017. Read more at the Limerickpost.ie
A number of tenants renting Apartments in the Strand Apartment Complex in Limerick were shocked when they received letters shortly before Christmas stating that they must vacate their homes by April 2017.
One of these residents Tara Robinson, who has resided at the complex for 7 years was informed that she must vacate her home by 19th April 2017 in order for it to be sold by Oaktree Capital a US Vulture fund firm. She says the residents concerned were only made aware of the fact that their apartments are owned by a vulture fund when the eviction notices were received and she has vowed to fight for the right to stay in her home. Read more at Irish Examiner
Lack of supply of homes in Limerick City meant prices rose by between 5% and 15% during 2016 with homes originally priced at €250,000.00 getting as much as €280,000.00. It would appear that First time buyer helped push prices up.
Property in the suburbs of Limerick has seen an increase in value as people grow tired of commuting from outlying areas and want to reside close to their place of work, schools, shops and other amenities.
Auctioneers and Estate Agents in Limerick find that properties in rural areas and those in need of restoration are not receiving the same interest as those located in and around Limerick City Center and in villages on the outskirts of the city such as Adare and Castleconnell which have a good array of amenities to offer.
Read More in the Sunday Times Property Price Guide 2017
The shortage of rental accommodation is the reason given by 4 out of every 10 employers for them not being able to recruit more staff and employers are also blaming the increasing rents for the loss of many of their existing staff. Recruitment firm Abrivia in conjunction with the business school at Trinity College Dublin carried out a survey of 2500 workers and 500 business and the results confirmed that Irish business is being effected by the housing crisis.
This problem does not only concern Dublin. Lack of availability and the rising cost of living accommodation is a nationwide problem however 47% of workers outside Dublin would require an increase in salary of more that 20% to move to Dublin for work and the results of this survey showed that 8 out of 10 employers expect to increase wages by up to 5% in 2017. This is not good news for job hunters in Cork, Limerick, Galway or Waterford hoping to move to the capital city. People moving from Dublin because they can no longer afford to live there are finding very little accommodation available in Munster however 2017 should be a good year for Limerick if currently proposed construction in Limerick city and the suburbs of Annacotty and Mungret due to commence in late spring goes ahead.
Read more at Irish Independent.ie business
House prices are still cruising back towards their 2006 peak. (And you wondered why one of our main property websites is called Daft.) Thanks to a recent Daft report, we know that the average asking price for a property in Dublin ranges from €527,000 (south county) to €261,000 in the city centre. The latest Daft report also shows that average prices are far lower in the other cities. Cork is 247k, Galway is 248k and you can still probably get a place in Limerick on your credit card. The report shows that prices are rising sharply in these cities, so don’t hang about.
See more at the link below.
€463m was paid in Local Property Tax to the Revenue last year, an average compliance rate of 97%.
This is similar to previous years.
Laois had the highest compliance, 99.8% of property owners paying, the lowest compliance was in Donegal, paying just over 92%.
This is a great opportunity to acquire either a home or a good investment in Limerick City.
Newsletter from Ireland’s leading Institute of Auctioneers, Estate Agents and Valuers.
According to Pat Davaitt, the Chief Executive of the IPAV (Institute of Professional Auctioneers and Valuers) the Governments strategy for the Rental Sector is very unfair to landlords and will force many landlords to pull out of the market. The most recent legislation introduced by the government is in actual fact punishing landlords who had not increased the rents their tenants were paying for some time. The reasons for not doing so were mainly because they were concerned for their welfare and were happy to have a good tenant in place. Auctioneers and Estate agents in Limerick and the Munster region agree that this has a lot to do with the drop in recent rent levels. Read more in the Leitrim observer.
Asset Property Services and RentinLimerick.ie was established in 2008 and has a vast amount of experience in the Limerick residential property industry, endeavoring to bring efficient services to you with regard to residential sales, lettings and management, property valuations and BER assessments.
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