Archive for month: January, 2017
Anger as Government defeats the Anti-Evictions Bill
An AAA – PBF bill put before the Dail was narrowly defeated yesterday. The final vote count was 51 51 and the casting vote by Ceann Comhairle Seán Ó Fearghail resulted in support for the Government. Home Sweet Home the housing campaign who were responsible for taking over Apollo House in Dublin last month condemned the Government for voting down the bill claiming that this decision would result in many more people nationwide becoming homeless.
The bill sought to amend the Residential Tenancies Act 2004 in a number of ways. For example it would have removed the sale of property as a grounds for terminating a tenancy.
This has not only happened in Dublin but in Limerick also Read more at the Journal.ie
20 towns set to get rent caps after price review
Towns in Limerick and Waterford are not expected to see rent caps introduced following the outcome of the Housing Agency’s review but could be designated as pressure zones in a future audit. The minister was criticised when he introduced his rent strategy as only areas in Dublin and Cork were designated as pressure zones.
Fianna Fáil housing spokesman Barry Cowen said he would insist on almost 40 towns being selected as the rent zones.
To see our list of rentals in Limerick go to
https://rfauctioneers.ie/rentals/
Building in Limerick on the Up
According to the latest edition of GeoView Residential Buildings Report Limerick has the fourth highest number of residential units under construction. In the last quarter of 2016 there were 4910 buildings classified as under construction nationwide of which 315 were in Limerick city and county. The national average price for a house is reported to be €239,095.00 but if Dublin is not included the average house price countrywide is €167,615.00. The average property price in Limerick alone is €151,497.00. Limerick Auctioneers and Estate Agents welcome the much needed construction in Limerick as demand for residential property is at an all time high.
Sale of 4 Unit suburban shopping centre in Limerick yields 8.85% profit
Rosedale Shopping Centre located in the busy suburb of Dooradoyle in Limerick has been sold to a private investor for €1.36 million making a net profit of 8.85% for the owner of the split level complex.
A private investor has bought Rosedale Shopping Centre in Dooradoyle, Co Limerick. The centre was developed in 2006 by a local businessman Shane Fitzgerald and the four units are currently occupied by Dooradoyle Pharmacy, Dooradoyle Medical Centre, Super Bites Take Away and a Centra Convenience Store which is the largest tenant. Read more in the Irish Times
http://www.irishtimes.com/business/commercial-property/four-unit-shopping-centre-in-co-limerick-sold-for-1-36m-1.2939984
Could Limerick become our second city?
D
avid Jeffreys is among a number of optimists who think Limerick has a big future as the nations second city.
He arrived in Limerick to study IT. With university friend John Savage, they set up their own IT company, Action Point, which now employs 80. His wife, who is Dr Sarah Harney, moved to the city to fill a position in the University of Limerick teaching medicine.
Even Though Limerick still has some bad unemployment black spots, Jeffreys thinks the city of today is a long way from the place portrayed in the papers previously.
“There are great advantages to working here,” says the Laois entrepreneur . “I can get home from work in minutes to where I live in Clonlara, Co Clare, and I am looking at cows in fields. I can cycle there in 15 minutes.
“There are new companies opening here, unemployment is declining, and young people moving in are making the place more vibrant.
“Limerick is a proud, passionate place,” he says. “I believe the challenges that the city have faced helped to pull people together.”
Looking at property prices in Limerick, it is easy to see why Dubliners might be tempted. 3 bed semi-detached homes are usually valued between one hundred thousand and two hundred thousand euro, and there is also the option of residing in neighbouring counties like Tipperary and Clare, with relatively short drive times.
Cork may laugh at the idea, and others might live with the hoary stereotype of ‘Stab City’: but there is a growing clamour in Limerick to develop the city of the South West that can ease Dublin pressure.
John Moran, a Limerick man who guided the country’s fortunes as Secretary of the Department of Finance, has suggested Limerick could be a city of up to 750,000 people, acting as the ideal counterweight to Dublin.
http://www.independent.ie/life/special-report-could-limerick-become-our-second-city-35345391.html
Sova to withdraw notices on Limerick apartment tenants
Minister for housing Simon Coveney said that the Property Management company for The Strand Apartments, which had served notice to to quit on tenants in the complex has decided to withdraw the notices.
Over 10 tenants had been given notice by management on behalf of the owners Oak Tree capital, a vulture fund, that wants vacant possession.
http://www.rte.ie/news/2017/0113/844809-strand-apartments-limerick/
Limerick city house prices expected to increase by 10 per cent in 2017
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
Resident Prepared to Fight Eviction from Her Limerick City Apartment
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