Tag Archives: Property

Irish House Prices Ricing

Irish Property Market on the Rise

According to figures released by the Central Statistics Office house prices across Ireland rose by an average of 8.1% in the year to February. The latest statistics show that on average house prices have been rising steadily for nine consecutive months and that the average national price rise is the strongest that it has been since before the crash in June 2007. These figures give strength to the belief that the recovery of the Irish housing market is well under-way.

Irish House Prices Rise 2014 Graph

Outside of Dublin house prices across the country rose by 0.9% during the month of February and were up by 4.2% compared with the same month last year. However, the value of property in the capital fell by 0.6% compared to the previous month of January. However, house prices in Dublin still managed to be 13.3% higher than they were in February 2013, making the overall picture a positive one despite this small setback. Equally the progressively rising prices across the rest of the country offer more than a little compensation for an under-performing Dublin.

To read the Full Report Click Here!

How to be a good landlord

It can be a fairly daunting task finding new tenants in the current market. Therefore, we at 4pm have provided you with a checklist on how to keep new and prospective tenants happy in the long run.  Before you start reading, you need to be aware that being a landlord involves a lot of work and effort from your side; but you probably already know what we are talking about.

1. Your properties need to be in a good condition before letting new tenants in because then they will also be more willing to keep them in a good state. Whitewash the walls, fix any broken household appliances! It may be expensive, but it is definitely easier to be done before anyone moves in.

2. If something breaks, which is unavoidable, try to fix it or get someone fix it as soon as possible.  A fast response time is indispensable. But don`t ask your tenants to pay for it because it rarely happens that they destroy it on purpose.

3. Charge reasonable prices, you might even consider rents slightly below the market because then you`ll get a wider range of potential tenants out of whom you can choose the most creditworthy and reliable ones.

4. Be respectful at every stage towards your occupants. It is even worse having troubles with them than with the property itself, so don`t neglect them.

5. Keep your tenants up-to-date: They should know what you are expecting of them so as not to confuse them.  Let them know your rules beforehand to avoid problems later on. This includes for example quiet hours and a definition of unacceptable noise; furthermore you should not forget to give them your emergency phone number and to inform them about any rent increases far in advance to avoid disappointment.


That`s it for today. Do you have any tips yourself? Share them with us and
leave us a comment below. We at 4pm hope you have a good start to the week!

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Smart Houses for Smart Times

Have you ever wondered how your office might look in the future? We cannot give you a clear answer to that question, but the latest trends give us at least some insight into how we will work and live in a couple of years.

There is one thing we can tell you for sure: Houses will definitely be smarter than today and will respond to the needs of individuals, that`s what all the experts are in agreement about.

For example, one new innovation is digital walls inside the buildings which adapt to your personal preferences regarding the heating system and the light, instantly when you enter the room, because, let`s face it, some people prefer it really hot and others a little more chilly.

Another cool innovation is self-cleaning and self-healing concrete. Sound complicated? In fact, it is quite simple. By using titanium dioxide, the walls will clean themselves with a little help from the rain. Even the Air France headquarters at Paris airport make use of this incredibly smart technology.

It might well happen that in the future all skyscrapers are covered in green walls. These living facades are made out of algae, which help to reduce carbon emissions and as a reason of that cool down our cities, which in times of increasing environmental consciousness is of utmost importance.

Furthermore, the algae are recycled to create biodiesel and their roots could be used to stabilize the buildings. Even if it sounds a bit weird, think about it: Trees usually survive earthquakes more than houses.

All these facts about the power plants sound quite futuristic, but to be honest: The green constructions look so much prettier than all the boring grey concrete ones.

Of course, everything has its price, especially innovative ideas, because there is always some kind of risk involved. However, if you sum up all the benefits of these automated buildings, such as the use of less energy and the production of less waste, you will find, it will be worth it. Instead of being carbon neutral, we could reach a carbon positive way of living.

What do you think? Let us know your thoughts on this issue and don’t forget to follow us on twitter for all the latest news!

Thanks for reading!

A rise in mortgage interest rates could affect thousands

As if things weren’t bad enough homeowners are now facing even more pain as interest rates are increasing even more. AIB’s chief executive warns of the future plans to increase variable rates. This move from AIB is set to spark a rise in the variable rates from other lenders also. Therefore around 300,000 people with variable home loans will be affected. AIB alone have around 70,000 customers who have variable rates.

Breaking this charge down basically means that every 0.25pc rise in rates adds €30 a month to the cost of repayments on every €200,000 borrowed. The new rise in rates will send the number of residential customers in arrears soaring. 

According to Broker Michael Dowling of Abacus Finance in Dublin all the lenders are all set to raise their rates but they just don’t want to be the first one to make the move. But sure enough once one goes ahead, they will all follow.

The banks want to see the average variable rate rise from 4.3pc to 5pc which would add around €1,000 a year to the annual repayments on a €200,000 mortgage.

The Government have now wiped their hands clean  of the mortgage rates even though in the past they put pressure on lenders to reduce these variable rates. In 2012 AIB brought in two rises of 0.5pc each.

David Duffy, AIB’s boss said that the bank would contact all those in arrears and offer them a deal to reconstruct their mortgage payments by the summer.

AIB Boss David Duffy

David Hall, of the Irish Mortgage Holders Association claims that Mr. Duffy had offered very few, if any distressed borrower’s long-term restructuring and when they were asked how many mortgage holders had been offered deals the AIB spokeswoman said she had no figures at the moment.

So the bank that the state has given €21.5bn to claims that its variable rate is one of the lowest on the market.

On the contrary there was a large increase in the number of mortgages that were issued in the last three months of last year. This was mainly due to buyers who were struggling to avail of mortgage tax relief. This has since been removed.

In 2012 nearly 16,000 mortgages were drawn down which totalled €2.6bn. This is the first annual increase we have seen since 2006.

Experts in the area have made their predictions that around €4bn worth of new mortgages will be issued this year.

Bank of Ireland, AIB and Permanent TSB have stated that they will increase their home-loan lending. Dermot O’Leary of Goodbody Stockbrokers said AIB and Bank of Ireland alone are committed to issuing €2bn each in mortgages this year.

We would love to hear your thoughts on the issues raised in this blog, feel free to leave comments! Thanks again for reading and don’t forget to follow us on twitter for daily blogs!.

Top 10 Property Investment Locations!!!

We have looked into the top 10 investment spots for property and many of our top holiday destinations have been identified this piece makes some interesting reading on a Monday…… we can all dream :)


1. Hong Kong

Hot spots: Hong Kong’s best known luxury residential enclaves are all on Hong Kong Island, within easy reach of international schools, clubs and the city’s main business districts.  It is in these areas where prices have risen most rapidly over the past three years. Prices of luxury accommodation in these areas have risen by 65 per cent since 2008, compared with a staggering 80 per cent on the Island.

2. Moscow

Hot spots: The Tverskaya and Patriarchy Ponds area has always been and remains one of the most popular parts of Moscow with premium real estate buyers and tenants. Tverskaya is the main street of the Russian capital, and leads directly to the Kremlin and Red Square. Tverskaya, as well as the adjacent area of the Patriarchy Ponds offers residents the best shops, restaurants, schools, theatres  and cinemas. It is not by chance that demand in the Tverskaya area remains high.

3. Sydney


Hot spots: Sydney’s most luxurious properties and greatest wealth are found in its prestigious eastern suburbs. From here, residents can take advantage of glorious views over Sydney Harbour or the Pacific Ocean, and be within a few minutes’ drive of Sydney’s CBD.


4. Paris

Hot spots: One of the most sought after investment locations in Paris is the “Ile St Louis” and in particular, the “Quai de Bethune” overlooking the Seine.


5. Mumbai

Hot spots: South Mumbai is the southern-most precinct of the city of Mumbai and is the main business centre. It is the richest urban precinct in India, and houses most of the city’s elite. The area is on the east by Mumbai harbour and on the west by the Arabian Sea. As a ratio to average per capita income, real estate prices in the business districts remain the most expensive in the world.

6. Shanghai

Hot spots: Xintiandi, or Taipingqiao Lake, is renowned as a with-planned development of high-end dining, entertainment venues, luxury residential properties, office towers and hotels. This centrally-located scheme is now one of the most highly sought-after residential enclaves in Shanghai.

7. New York

Hot spots: The area east of Lexington Avenue on Manhattan’s Upper East Side is being thought of in a new light with the construction of the Second Avenue Subway.

8. Tokyo

Hot spots: Minato Ward, an area home to several important commercial and entertainment districts such as Akaska and Roppongi, is one of the most prestigious residential addresses in Tokyo.


9. Singapore

Hot spots: One of the most popular luxury precincts in Singapore include residences closest to the Orchard Road shopping belt classified under prime districts 9 and 10. Luxury apartments in the area are commonly furnished with designer fixtures, state-of-the art home technologies and sky gardens.

10. London


Hot spots: Kensington and Notting Hill are both sought after areas as both have fashionable restaurants, high-end shopping and good schools. On your doorstep, you also have the open green spaces of Kensington Gardens (once the private gardens of Kensington Palace) covering 275 acres or Hyde Park covering 350 acres.

Which location wuld you choose if you found some spare change down the side of the sofa??