Belfast Telegraph

Bargains galore at Dublin properties ‘fire-sale’

By Allison Bray

Bargain-hunting homebuyers flocked to the first receivership sale in Co Dublin yesterday where they snapped up homes at a fraction of their peak boom price.

By 6pm, 15 of 49 units at the salubrious Carrickmines Green development in south county Dublin were as good as sold and more eager buyers were lining up with a view to buy last night.

The mothballed development is being sold at fire-sale prices by Anglo Irish Bank through a receiver at less than half of its peak price.

Thirteen of the units sold were one and two-bedroom apartments ranging in price from €135,000 (£110,607) and €180,000 (£148,800).

They were selling for €365,000 (£301,750) and €490,000 (£405,000) respectively at the height of the boom in 2006.

Two luxurious four-bedroom townhouses were also snapped up for less than half price at a modest €350,000 (£289,350) compared to €820,000 (£677,900) at the height of the boom.

Word of the impending sale due to the bankruptcy of developers Laragan brought would-be buyers by their droves, said estate agent David Browne of HT Meagher O'Reilly New Homes.

“There were traffic jams trying to get in,” he told the Irish Independent last night.

The majority of purchasers were young first-time buyers who had given up all hope of getting a foot on the property ladder just three years ago.

Some buyers had even put down deposits further afield that they were willing to forego yesterday in order to buy property closer to the capital. Others were older buyers who were eyeing up luxurious penthouse apartments for a modest €250,000 (£206,679).

People recognised a bargain when they saw one and were ready with chequebooks to hand, he added.

Belfast Telegraph