Property developer Seamus Ross and estate agent Arthur French, who partnered up to build the luxury Ladycastle housing scheme at the K Club resort in Co Kildare, are currently embroiled in a court battle over profits accrued from the venture. Mr French, who brought the case against Mr Ross's building company Menolly Homes and Brisa Developments claimed in the High Court he is owed millions.

Century Development is to build a €76m tourist project in the Caribbean paradise island of Grenada. The development will include the construction of a 65-room boutique hotel, 31 luxury villas, 40 two-bedroom suites, condominiums and apartments, a waterfront restaurant, sporting centre, beach club and 100 boat decks at Fort Jeudy on the island.

House prices have fallen throughout Europe, with Germany (-8%) and Ireland (-7%) recording the highest falls on the continent, while the UK market has emerged as resilient, with prices rising by 8%.

A new report conducted by Lisney and Cushman & Wakefield, shows that prime industrial rents in Dublin at 5%, are now rising at twice the European average, and second only behind London’s Heathrow.

This fall in the number of planning applications (and subsequently planning permissions) is probably one of the main reasons the Minister for Environment, Heritage & Local Government is looking at increasing development contributions, which in recent years have become a major source of funding for local authorities. It appears the Minister believes an increase in development contributions is needed to fund local social and economic infrastructure.