Buyers snap up homes at under half boom price
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Friday June 11 2010
BARGAIN-HUNTING homebuyers flocked to the first receivership sale in Co Dublin yesterday where they snapped up homes at less than half 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.
The mothballed development is being sold at fire-sale prices by Anglo Irish Bank through a receiver.
Thirteen of the units sold were one and two-bedroom apartments ranging in price from €135,000 and €180,000.
They were selling for €365,000 and €490,000 respectively at the height of the boom in 2006.
Two four-bedroom townhouses were also snapped up at a modest €350,000, compared to their top-of-the-market price of up to €770,000.
Word of the 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.
The majority of purchasers were young first-time buyers who had given up all hope of buying just three years ago.
The fire-sale of properties in Carrickmines could result in a paltry €10m going back to taxpayer-owned Anglo Irish Bank.
- Allison Bray
Irish Independent
