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Ireland’s largest retail industry trade body has expressed its support of the Government’s plans to abolish upward only rent review clauses. Retail Excellence Ireland (REI) claims more than 40,000 jobs are at risk in the retail sector unless the system is removed. Currently, rent prices can only increase or remain the same under review, regardless of decreases in market rates. Since rental retail rates increased by 240% between 2000 and 2007, compared to a 30% increment in consumer prices, REI claims businesses are not paying a fair market rate. As it stands, Ireland is one of just a handful of countries who still employ the system, with the remaining jurisdictions employing a market-based approach.

New to the market with Mullery auctioneers is a charming cottage style residence boasting an excellent location on Raleigh Row, just off St Mary’s Road and Sea Road, within a very short walk of the city centre, Salthill, NUI Galway, and UHG.

John Quinn has recently brought to the market No 75 Gort Greine, Millars Lane. This is a fantastic three bedroom residence which is in stunning condition, according to the agents.

The tenant purchase scheme for long-standing tenants of the Galway City Council has been relaunched, offering tenants the opportunity to buy their own homes from the council at a reduced rate.

Local authority tenants, who have been residents for more than 10 years, have the opportunity to purchase their house in a new scheme, with up to 45 per cent off the house price available.

Many thousands of Irish people bought overseas properties over the last 10 years, and some are now suffering losses due to the collapse in property prices and the current economic recession across Europe. An increasing number of second-hand holiday properties throughout Europe are now coming back on the market as the overseas owners realise that they can no longer afford to pay second mortgages in the uncertain times we are now living in.

The elected members of Ballina Town Council will meet again before approving a new tenant purchase scheme for long standing tenants. The new scheme, which will run hand in hand with the existing scheme, will see tenants who have more than 10 years of tenancy with the local authority get up to a 45 per cent discount on purchasing their home. This new scheme will run alongside the existing scheme from 1995 which saw tenants being able to avail of up to a 30 per cent discount on purchasing their homes.

After adopting a Government plan to offer long-term tenants up to 45 per cent off the purchase price of their local authotiry home, Westmeath County Council is to write to its 1,700 residential tenants before the end of the month to inform them of this.

Tony Joyce of O’Donnellan & Joyce auctioneers has recently brought to the open market an outstanding three bedroom property which would be an ideal first time buyer’s home. The property itself is beautifully presented in first class decorative order and condition and offers modern spacious living accommodation.

There are several different reasons why an agency is more effective than an individual when letting a property, according to Yvonne Mulllaney of Yvonne Mullaney executive sales and lettings. For a start, an agent will have several properties online at any one time, and so gets an extremely high volume of people ringing looking for a home to rent.