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Real Estate Briefing - Categorized | Market Moves, People more

Irish property market is ‘frozen’

Posted on 31 October 2008

From Independent.ie: Peter Straarup, the chief executive of National Irish Bank’s parent Danske Bank, has told analysts that the Irish commercial market is “frozen” and that collateral on some development projects have fallen as much as 80pc in value.

Irish banking analysts believe Mr Straarup was referring to development land at the extreme end of asset declines. They cautioned that it is nearly impossible to give realistic valuations when there are few deals taking place….. Full Article: Source


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