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Empty apartments Maigh Rua

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  • 17-04-2013 8:37pm
    #1
    sorsha
    Banned (with Prison Access) Posts: 86 ✭✭


    Does anybody know what this development (called Maigh Rua) at Doughiska Road:


    http://www.stephenwalton.ie/wp-content/uploads/2009/07/Elevation-Block-A.jpg

    is empty for few years?

    I just don't get it, there are almost no modern apartments in this town and this is standing and deteriorating. There are no nice apartments on current market in Galway and they leave it empty like this?


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    #2
    wonder88
    Registered Users Posts: 144 ✭✭wonder88


    We don't really have a free market in housing in Ireland. People expected that property prices/rents would always go up, never down. In fact in the commercial property sector it is the law with upwards only rent reviews leases. It seems that when demand collapsed after the boom, property owners and the state attempted to shore up prices. Tax incentives were increased for mortage holders and newly built property was held back from the market. Those who do not pay their mortage are also left alone, because if there was a proper market these "homeowners" and the banks would have to realize their losses. A lot of people benefit from this rigging of the market, but many also loose out especially those who rent accomodation (unless you get rent allowance).


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    #3
    sorsha
    Banned (with Prison Access) Posts: 86 ✭✭sorsha


    I must say its really bad. Rent prices are crazy and I am planning (would like to) buy something in Galway,but choice is very very poor, quality is poor.
    There is choice between "cardboard" like semi detached and finished with hotel like style (not mine) and overpriced apartments.
    I don't understand it at all,because there is many people that would like to buy or rent it and this particular building looks finished but its empty for long time.


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    #4
    Stevolende
    Registered Users Posts: 483 ✭✭Stevolende


    Wonder what condition those houses are in, definitely been empty since late 2006. Which probably means never occupied at all. Have always wondered what the story was on those, but apparently a lot of Roscam is the same and there are also uncompleted apartments in Fionnuisce, at the top of the hill behind Fearan Ri which have been in that state for the same amount of time.

    Not sure if there are other similar estates in the other big building areas like Knocknacarra


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    #5
    sorsha
    Banned (with Prison Access) Posts: 86 ✭✭sorsha


    I found this article online:

    http://thestory.ie/2010/08/01/all-is-not-well-in-galway-city-council/

    -why in those cased council does not take over development -finish it and sell it??


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