independent

Saturday 19 April 2014

Prices plummet but agents confident of sales

SOME 4,500 houses and apartments are finished but empty in Dublin, many of which are in the upmarket local authority area of Dun Laoghaire- Rathdown.

They include developments in Sandyford and on the Stillorgan Road, while about a dozen have yet to be sold in the Booterstown Wood development in south Dublin. Launched in 2007, two-bedroom apartments were priced at €625,000 when they first went on sale. Today, similar units can be bought for €265,000, with one-bedroom units costing €195,000.

Selling agent Hooke MacDonald said that most of the 62 units were occupied, with about a dozen left to sell. The company was confident that all would be sold by the middle of next year.

"The units are selling, and we expect the development will be fully occupied in the next six months," a spokesman said.

Designed by O'Mahony Pike Architects, with seven floors over a basement car park, the development has 13 one-bedroom apartments, 42 two-bedroomed and seven two-bedroom duplex penthouses. Features include own-door entrances, sun balconies and roof gardens.

Irish Independent

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