Developers offer money-back guarantee to beat slump

POTENTIAL buyers of 16 luxury homes in Co Dublin are being tempted by an unusual offer as house builders get increasingly worried about the housing market.

Concerned over the housing slump’s effect on sales of a development of €595,000 homes, builders Walsh Maguire and developer Ballynakelly Ltd are offering to buy back homes at the original price if the value falls below the amount the owners originally paid.

“Our guarantee addresses buyers’ worries about negative equity,” said Walsh Maguire chairman Vincent Maguire.