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O’Donnellan & Joyce reports that investors are chasing properties prior to the end the year in order to avail of the exemption from Capital Gains Tax on properties held for over seven years, and the majority of investors are looking for residential and commercial properties with strong yields.

Mayo County Council has budgeted this year €500,000 for the repair and upkeep of its vacant housing stock, but they would need three times that figure to keep on top of the number of houses that become vacant throughout the year. That is according to director of services for Mayo County Council, Paul Benson, responding to a query about how many vacant houses in Mayo belonged to the council. Independent councillor Michael Kilcoyne raised the issue at the annual budget meeting of the council, and he was told that some 1,590 houses are in the ownership of the council at the moment, and between 50 and 60 of those are currently vacant.