NAMA CONTROLLED UNFINISHED ESTATES
DUBLIN, CORK, GALWAY, LIMERICK
& ACROSS IRELAND
A recent Department of the Environment survey has
stated that the number of unfinished housing
estates present across Ireland currently stands at 668, a reduction of
around 2,300 from the almost 3,000 estimated number of unfinished estates calculated to be in existence in late 2007.
These "ghost" estates were widely written about
(and photographed) in many media outlets as a visible and stark testament to the sudden collapse
of the Irish
construction industry.
In reality however, the figure of 3,000 above also included greenfield sites or building sites where
only initial ground clearing operations had been
underway, and where construction of houses and/or apartmentments had not commenced.
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At the time of the financial crisis, many dire predictions of wide scale demolition being required were made, although surprisingly less than 100 apartments and houses have actually been demolished since late 2007 to date.
NAMA currently controls 47 of these unfinished housing developments, the locations of which are listed below.
NAMA CONTROLLED UNFINISHED HOUSING DEVELOPMENTS
| Location | Number of sites |
| Carlow | 1 |
| Clare | 2 |
| Cork | 15 |
| Donegal | 2 |
| Dublin | 8 |
| Galway | 3 |
| Kerry | 2 |
| Kilkenny | 1 |
| Laois | 1 |
| Limerick | 1 |
| Louth | 1 |
| Offaly | 1 |
| Roscommon | 1 |
| Tipperary | 1 |
| Waterford | 2 |
| Wexford | 2 |
| Wicklow | 3 |
During the last 12 months, 324 housing estates have been completed to an occupiable standard.
Nearly 19,000 homes are currently occupied in 500 uncompleted Celtic Tiger era estates, with over 2,000 houses now completed but, for various reasons, still currently
empty. It may well be that the greater the occupancy rate of an unfinished estate, the greater the chances that it will eventually be completed according to it's
original design of 7 or more years ago.
In addition, there are 2,353 houses and apartments that may be fully completed in the first half of 2016, with a further 2,466 still at the basic foundation level. 176
housing developments are still unfinished and without any owners or tenants.
14 of these unoccupied unfinished empty estates are in urban areas and the Department of the Environment report assesses them as having good potential for eventual occupation, with another 34 unfinished estates located in low demand, remote areas of Ireland.
The majority of these 34 estates are in a deteriorating state, usually a mixture of partically complete houses, shells or have work done but stopped at foundation level in late 2007 or early 2008.
The information provided above, based on a recent Irish Times property report, is liable to change at any time. All information supplied by IrishHouses.ie is subject to errors & omissions and does not constitute legal, investment or any other form of advice. Always obtain independent professional advice for your own particular situation.
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