View Full Version : FT: Property party over as Ireland's prices fall

10-09-07, 04:29 PM
Looks like the housing bust is going global. Wonder if any of them have been reading about their future on iTulip?
From the FT:
Property party over as Ireland's prices fall

By John Murray Brown in Dublin
Published: October 9 2007 03:00 | Last updated: October 9 2007 03:00

Ireland has already seen its religious orders selling off land. Now it is the members of some of the country's exclusive golf clubs who are voting to cash in their greens and fairways to make way for new housing.

Some clubs have pulled off attractive deals with developers, but others may be too late to the party amid signs the Irish property boom has come to an end. Gerard McDonnell of Pembroke McDonnell estate agents believes the reality is rather worse. "Prices are down 10 per cent and that's if you get it," he says.

The debate now is whether the country can engineer a soft landing - as most local commentators believe - or be plunged into an economic recession which some outside analysts think will be hard to avoid.

Link to article:

10-10-07, 02:37 AM
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