The defective building blocks crisis has overshadowed the Donegal property market for the past five years, however, house prices here continue to rise.
According to the Irish Independent, the average value of a house in Bundoran, Letterkenny and Donegal town is now €300,000, an increase of 10 per cent.
It is estimated that 5,000 properties in the county will need substantial renovation or total rebuilding.
The Society of Chartered Surveyors of Ireland (SCSI) has assessed the cost of rebuilding the mica-affected properties at approximately €150,000 for a two-bed terrace to €193,000 for a four-bed semi-d, €308,000 for a four-bed bungalow and €420,000 for a five-bed detached rural two-storey.
However, mainly due to a supply shortage, house prices here are forecast to rise by another two per cent this year.
Read the full report in today’s Irish Independent, or online at www.independent.ie
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