Dubliner Colin Farrell takes a big hometown hit on Irish property slump

Hollywood star counting the cost of market downturn

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Colin Farrell

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Hollywood heartthrob Colin Farrell has lost as much as $6million in Ireland’s property slump.

The Irish actor bought 14 properties in his hometown of Dublin at the height of the property boom.

Farrell won six flats in one Dublin development alone and five in another as he built up his property portfolio.

Now, like so many other Irish house owners, Farrell is feeling the effects of the recession.

The Sunday Times reports that the Total Recall star spent over $10million for the eight properties between 2004 and 2007.

Market experts estimate however that Farrell’s investment has fallen by as much as 65 per cent in the downturn.

Estate agent Ronan O’Driscoll told the Sunday Times: “There is significant oversupply, a lack of mortgage finance and general economic uncertainty.

“In Dublin city, as distinct from the suburbs, we believe prices are approaching the bottom of the cycle, but will remain at current levels for a number of years.”

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