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A new bill could see landowners and developers pay a charge of 30% on the difference in the value of land before and after residential zoning. The Land Value Sharing and Urban Development Zones bill seeks to clampdown on land speculation, where developers profit off land that is zoned for housing. Within the proposed law,…

New figures from the Central Bank show that a total of 86,298 current and deposit accounts were closed in Ulster Bank and KBC Bank in four weeks to the end of March. The account closures come as the two banks continue their withdrawal from the Irish market. The Central Bank said this marked a reduction…

The annual rate of inflation eased to 7.7% in March from 8.5% in February, according to the latest figures from the Central Statistics Office today – the lowest level in 11 months. But core inflation – which excludes energy and food – continued to rise. March of last year marked the start of the dramatic…

The annual rate of residential property price increases slowed nationally to 5% in February, compared to 6.1% in January, new figures from the Central Statistics Office show. This marked a 22 month low and is one-third of the 15% growth rate seen in February last year. On a monthly basis, prices fell 0.4% in February,…

Struggling British banknote printer De La Rue warned its fiscal 2023 profit was set to miss market expectations and next year’s outlook was uncertain, as demand for cash hit its lowest in over two decades. This sent its shares to a record low. The company said it was talking to lenders about amending its banking…

New figures from the Central Bank show that the average interest rate on a new mortgage dipped in February to 2.92% from 2.93% in January. Ireland once again had the third cheapest mortgage rates in the euro zone in February. The euro zone average mortgage rate rose to 3.33%, almost three times the rate it…

The number of international visitors to Ireland over the first three months of the year remained down 16% compared to the same period in 2019, before the pandemic hit. According to data compiled by the Irish Tourism Industry Confederation (ITIC), 1.7m people visited Ireland from overseas between January and the end of March. But the…

The seasonally adjusted number of people on the Live Register in March stood at 180,500 – a decrease of almost 1%, or 1,600 from the position in February. According to figures from the Central Statistics Office, the unadjusted total stood at 179,777 for March. Of those, almost 54% were male and just under 70% were…

The International Monetary Fund has said it expects interest rates in major economies to fall back to pre-pandemic levels because of low productivity and ageing populations. In a blog issued ahead of its latest forecast for the global economy, the Fund said increases in borrowing costs were likely to be “temporary” once high inflation is…

Euro zone consumers cut their inflation expectations in February and also took a more optimistic view on growth and unemployment, a fresh survey by the European Central Bank showed today. Euro zone inflation has started to edge down from record highs around the turn of the year. Further big falls are also likely over the…