The 2008 Irish budget has been welcomed by the property industry, according to property consultant CB Richard Ellis (CBRE). Characterising it as a prudent budget, the company declared it would support property market performance in the medium term. Marie Hunt, director of research at CBRE, Ireland commended minister Brian Cowen for reforming stamp duty in the second-hand housing sector, citing 2007 stagnation due to weak buyer sentiment, oversupply and rising interest rates.
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