A fully finished holiday home in a world-famous retirement town was yesterday sold for a knockdown €50,000.
It was one of five almost identical houses in Kenmare, Co Kerry, disposed of at a public auction.
The units were sold separately and fetched €311,000, with €71,000 being the highest price paid.
The reserve for the mid-and end-terrace houses — part of a now bank-owned, 30-unit development close to the centre of Kenmare — was €40,000.
The asking price for each of the three-bedroom houses at the height of the property boom, seven years ago, was €320,000.
Auctioneer Tom Spillane expressed satisfaction with the sale, saying there was “huge interest” in the properties. “The prices reflect the market and show that if the reserve is reasonable and there’s value for money, people will buy,” he said.
Kenmare was listed some years ago in the American Forbes magazine as one of the top 20 places in the world in which to retire. The town has seen huge holiday home development in the past 15 years, with many houses still on the market.
Meanwhile, 14 houses in a ghost estate at Annagh Banks, Castlemaine, Co Kerry, will come under the hammer at an Allsop’s sale in Dublin, today. The houses are on a three-acre site on the Killarney to Dingle road.
However, they are not connected to council services and are unlocked and unfurnished.
The reserve for the entire development — which also has planning permission for nine further apartments along with a pub/restaurant, a 12-bedroom hotel, and two shop units — is just €50,000.
Recently, Kerry County Council rejected a suggestion that it should buy the bank-owned Castlemaine property development. A spokesman said the development would require substantial investment to complete.
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