Around the Block: Now that the Government is committed to dispersing its civil service to the four winds, housebuilders in no less than 25 counties outside Dublin will be among the beneficiaries.
Towns that have seen virtually no development for years are set to come alive as thousands of civil servants move to the sticks. The decentralisation is also likely to grab the attention of investors keen to get into the buy-to-let market in many of these towns where house prices should cost a fraction of those in the capital.
There is no scarcity of sites in all of the towns targeted for the civil service, which include Cavan, Trim, Mullingar, Drogheda, Portlaoise and Killarney.
Commercial developers may also make a killing through building and developing office space for the new arrivals, while in Dublin the departures will mean yet more empty office blocks.
It must now be only a matter of time before many of the vacant offices in the city are converted into apartments for which there is still a strong demand.
Galway site makes record price
It's not unusual for development sites in Dublin to set new records. Now Galway is getting in on the act because of the shortage of well-located sites in the city centre.
Property developer Bernard McNamara has just paid €6.1 million for a mere 1.25 acres at the Fair Green, a long vacant site opposite the railway station.
The plot of land is probably worth more to the Clareman than anyone else because he and his partner Gerry O'Reilly own adjoining land as well as the Radisson Hotel. They already have planning permission for 9,290 sq m (100,000 sq ft) of retail space, offices and apartments and McNamara can now expect to double that figure.
His scheme will include much the same as the first phase, as well as a private bus terminal and high-tech facilities.
Soccer legend names swish Algarve scheme
Portuguese football legend Rui Costa, of reigning European champions AC Milan and the star-studded Portuguese national team, has lent his name to a swish new apartment development in the Portuguese Algarve, launching from plans in the Four Season's Hotel this Saturday.
Irishmen John Riordan and Michael Lynn are the principals behind Costa de Cabanas, which is on the unspoiled eastern side of Faro, near Taverna, known as "the Venice of Portugal". The land surrounding the apartments is protected by government preservation order and projects are not permitted above three storeys.
Former Riverdance dancer Breándán de Gallaí, who took over the lead role from previous incumbent Michael Flatley in the bestselling dance spectacular, has already bought here. With prices from €185,000 and completions not until 2005, buyers with a deposit could treat themselves to an early Christmas pressie.
