Re: Re: Developments in Cork
Out of interest, has anyone heard of any developments in Cork being put back because of developers having difficulty raising finance with the ongoing problems in the credit market?
It’s not just Cork, it’s nationwide……. the banks are very nervous, residential property is not selling and almost half of all business failures in Ireland are construction related (>40% are construction companies). As a result the loan books are lower; this is due to a mix of low demand, stricter lending criteria and a reduced loan-to-value ratio. I’ve heard of several residential devpt. decisions put off until the New Year – and I’ve also heard that a refusal on an ambitious planning app. was welcomed!