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Buy 14 houses in Co Kerry for just $62,000 - rock bottom Irish property auction

Allsop Spaces auction next month offers low prices for a ghost estate


The 14 house 'ghost' estate in Annagh Banks in Castlemaine, Co Kerry will be auctioned off by Allsop Space next month.
The 14 house 'ghost' estate in Annagh Banks in Castlemaine, Co Kerry will be auctioned off by Allsop Space next month.

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One of the dozens of so-called ‘ghost estates’ around the economically struggling Ireland, a vacant property of 14 homes in Co Kerry, can be yours for only $62,000. Other distressed properties around the country will be auctioned off by Allsop Space next month.

The Independent reports on the giveaway prices for some of the housing properties around Ireland. The  14 house estate in Annagh Banks in Castlemaine, Co Kerry will be auctioned off by Allsop Space with an asking price just over $62,000.

It will be the first time that Allsop Space will include a full ghost estate as one lot at auction.

The estate will be sold as a package, leaving it up to the buyer to not only divide up the houses, but to finish them as well. At present, they are only shells of houses waiting to be finished.

For a price similar to the 14 house estate in Co Kerry, you can own Whites Castle in Athy, Co Kildare, a 15th century castle in the center of the town.

Other locales around the country are seeing their own rock bottom housing prices as well. In Co Clare at Clancy Mills, Kilrush, a one-bedroom town house boasts a price of just over $25,000.

A two-bedroom bungalow at Sun Street, in Tuam, Co Galway, comes close behind the Clare property with a guide price of just over $31,000.

Allsop Space will be auctioning a total of 90 properties on July 6.


Nster.com


4 Comments

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turn it back in to a green field
jimod4343: thanks for your reply. If the sewerage, electricity and water infrastructure is not done by the Council, then you're right, it would be a total nightmare to get involved with. Might be better in that case to bulldoze them because these issues will be a problem for years to come as the houses fall into disrepair.
@Curitiba most of these estates are on land that has not been adopted by the local county council and there is therefore a 'Management Agent' involved who is responsible for communal area lighting, sewerage etc. In many cases the sewerage systems are incomplete. All (house)owners are responsible for an annual service charge which is usually the legacy of the original rip-off attempt. Many management companies have gone bankrupt or simply disappeared. If this is the case no houses can be bought or sold at all legally. In my opinion these houses are worth nothing at all, and these auctions are just an attempt for the developers to cut their losses. Yes it's a beautiful area, but don't touch these houses unless you want to be caught up in an expensive legal nightmare.
Why don't they sell them singly? I'd buy one and finish it. If you sell them together, you are going back to square one, you have to find someone with the hundreds of thousands of euros to invest in them to finish them. They're going then charge top dollar for them, they're not going to sell for that reason, the vendor will go bankrupt and they'll be up for auction again. Let individuals buy them and do them up as they go. Looks like a beautiful area.
 




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