Multi-million euro properties meeting strong interest

THE upper end of the residential market is strong, with buyers prepared to commit to multi-million euro purchases irrespective of the punitive 9% stamp duty.

Giving tax/stamp duty relief to buyers who can afford houses in this league isn’t a political priority so the attitude seems to be ‘if it’s there and you want it, buy it.’

Case in point was the sale, at auction, last week of Rosenheim, a Georgian villa in poor repair on the city end of Cork’s Blackrock Road. The single-storey house on 1.2 acres had seven bidders prepared to buy at the €2m-plus mark.