Finding a new or secondhand apartment in Dublin city at the moment isn't easy, particularly for small time investors with up to £150,000 to spend. A year ago, new apartment schemes were coming on the market almost on a weekly basis, but in 1999 it has been a different story. The city's most prolific apartment developer, Zoe, has been stalled by a series of planning difficulties, most surprisingly of all on its huge Barrow Street site, which it bought from Bord Gais Eireann. That scheme was approved by the corporation but was later blocked by An Bord Pleanala following strenuous objections from the local residents. The development was to have included up to 500 apartments.

The shortage of apartments will be eased somewhat in the next week or so when a number of new schemes will be released for sale. Prices are likely to be on the stiff side because of the limited number of development opportunities available to builders and the huge demand coming from cash rich punters who are anxious to avail of cheap mortgages. Meanwhile, the lending institutions have apparently been flooded with applications for money at under 4 per cent.

Getting the loot is the easiest part of the exercise. Finding a decent property is quite another matter.