Re: Re: Developments in Cork
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!
I wonder if there is any connection between this and the apparent halt on work at the Murphy Construction site on the Lower Road [next to Statoil].