Quotes of the Week

‘‘Now is a brilliant time to make a shed load of money” - William Newsom, Head of Commercial Valuations, Savills.

“We have seen nothing to suggest that a change in legislation would be in the public interest. We will make our view known to the Minister for Justice if asked but, at the end of the day, it is a government decision.” - Gary Davis, deputy Data Protection Commissioner.

"The whole area of commercial service charges has been a potential source of dispute between landlords and tenants, owners and occupiers, for many years." - David O'Brien, past chairman of the Irish Property and Facility Management Association (IPFMA).

“Indeed, given the large overhang of property on the market, likelihood of an ECB rate hike, weakening economic and labour market conditions and tightening of credit conditions especially in the mortgage market, prices may continue to fall over the remainder of this year. It may take a price fall of close to 20% before the market finds a bottom. Even then, we would not anticipate any marked pick up in prices in 2009 given the subdued prospects for the economy next year. Thus, we do not expect any meaningful recovery in house prices until 2010.” – AIB Irish Economic Update

“A new planning scheme and masterplan for the Dublin docklands, due to be unveiled next week, is to recommend that the maximum height for new buildings at the North Lotts, Grand Canal Harbour and Grand Canal Docks should be increased from seven to 20 storeys.” – The Irish Times.