During the boom in the construction market in Ireland, developers were building large scale expensive objects that are now in a crisis of the local economy, simply empty.
A striking example of such a construction is a gated development of St James Woods in the town of Stradbally, which includes 15 cottages, thatched. Currently, they are all empty, writes The Daily Mail.
Now the lawn in front of these idyllic country houses are overgrown with weeds, grass withered, and vandals have broken railings and fences in the gardens behind the buildings.
Some residents of Stradbally offer the simplest solution - to demolish the cottages. However, their developer, thinks differently and is going to hire workers who will lead the village in the divine form, and then will do discounts on their sites.
According to the study of large real estate portal Global Property Guide, in the first quarter of 2011 average house prices in Ireland were 13.1% lower than in the corresponding period of 2010. Relatively IV quarter of 2010 residential real estate in Ireland fell by more than 4% (in the capital Dublin decline over this period was also 4%).
Relative peak performance in 2007 average house prices in Ireland fell by 43% already, up to 210 000 euros. In another study provides a more optimistic figures: the average price remained unchanged at 260 000 euro, prices have fallen by 3% in I quarter of 2011 and by 37% compared with the peak in 2007.
In 2011, the central bank expects the country's decline in prices for commercial property in Ireland to 2.5% (at best), and at worst, if the economy continues to fall by 22%.