Shelbourne set to host distressed property auction

A holiday apartment with a reserve price of just €20,000 is one of the potential bargains in the latest auction of so-called "distressed properties".

Next month's auction will also feature a three-storey Georgian house in Rathgar in south Dublin for just more than €300,000.

Apartments, period homes and holiday getaways are also on offer at knockdown prices at the auction in the Shelbourne Hotel.

Stephen McCarthy of Space Auctioneers is expecting big interest despite the depressed state of the property market.

"There’s huge interest in property at the right price," he said.

"For a long time I don’t think people have offered property at realistic prices."