A Traveller's Tale: Tough Times in Dublin

Ireland is knee-deep in bust banks, negative equity and political uncertainty, says Nick Hood.

by
Last Updated: 31 Aug 2010

Dublin’s citizens seemed muffled up against more than just the chill March winds this week. Their empty wallets were also in need of some serious economic lagging.  With residential property prices in the capital down by up to 60%, every conversation was filled with horror stories about negative equity, told by depressed professionals and cabbies alike. Latest estimates suggest that Ireland has 316,000 new houses standing empty, a startling figure for a country with a population of only 4.5m. The construction sector is in disarray. Tender prices have fallen by 17 per cent in the past twelve months and are now 27 per cent lower than in the middle of 2007. Worst hit is civil engineering, but both house building and commercial property development remain badly depressed... [CLICK HERE TO READ MORE AND COMMENT]


In today's bulletin:

UK inflation sinks to 3% - but discounts harder to find
Gung-ho Google decides to take on China over censorship
VT Group succumbs to £1.3bn Babcock offer (reluctantly)
Editor's blog: Ex-parrot shows doctors keen to feather their nest
A Traveller's Tale: Tough Times in Dublin

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