Off-market properties on the up?
During the height of the property market chaos, from 2009 to 2011, the level of off-market property sales in Ireland multiplied.
These transactions represented properties that were not openly marketed or listed on property sale websites. In the absence of verifiable data, estate agents estimated at that time that the level of off-market sales accounted for around 30pc, or one in three, transactions.
From 2012 onwards, rising prices in the lower end of the Dublin market have meant that sellers generally benefited from higher prices in the open market. But, talking with agents this month has led me to believe that we might be seeing a resurgence of off-market sales, but that the current properties being sold discreetly are at the opposite end of the market to those we had previously seen. They are bespoke, luxury, executive homes dotted around the country but close to transport links for the London commuter market.
Take, for example, the home pictured, situated in the southeast. At one time the value would have been close to €3m; today, this stunning house is available for just over half that figure.