Large amount of vacant property in Donegal – Report

A new report has highlighted the high level of vacant property in Donegal and concludes that Ireland has so many empty houses that it would take up to 43 years to fill them all.

Deutsche Bank figures suggest that there are 289,451 empty houses in Ireland, including almost 60,000 vacant holiday homes.

A new report has highlighted the high level of vacan property in Donegal and concludes that Ireland has so many empty houses that it would take up to 43 years to fill them all.

Deutsche Bank figures suggest that there are 289,451 empty houses in Ireland, including almost 60,000 vacant holiday homes.

This represents a vacancy rate of 15 per cent.

A Deutsche Bank map shows, the empty properties are highly concentrated around the Atlantic coast with Kerry and Donegal particularly badly afflicted.

In these areas, it is felt the amount of empty homes will have a major impact on future property prices.

Deutsche Bank says 200,000 houses would need to be demolished in order for the housing supply to fall to three years of current population growth."

In April 2010, Nama boss Brendan McDonagh told the Oireachtas Public Accounts Committee that the state agency would consider bulldozing properties in certain circumstances, but that this would not be the "first option".