Property worth €15m goes at auction

HOW low can it go?

The results of the first major fire-sale of repossessed properties would provide solid proof of the total collapse of the Irish property market, according to the worst fears and predictions of some industry experts.

However, the verdict may still be out on whether house prices have reached rock bottom after almost €15m worth of property was sold during sometimes frenzied bidding at the auction in Dublin’s Shelbourne Hotel yesterday.