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House and apartment prices way down Photo by: Google Images

Irish property fire sale as prices tumble to lowest yet - SEE POLL

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House and apartment prices way down Photo by: Google Images

Read more: British bank's sell off of Irish property - Ireland's first distress property auction

A fire sale of properties owned by banks will take place in Dublin on April 15th and already there are shock waves over the prices being asked.

The sale is put together by Dublin real estate company Space and their British counterpart Allsops who specialise in distressed properties.

The 80 properties featured are in Dublin, Cork, Limerick, Galway and Portlaoise.

In Portlaoise a house is being offered for $50,000 while a house on the same block currently has an asking price of $220,000

In Dublin a penthouse apartment  in a desirable area is being offered at $180,000 while a ground floor apartment in the same complex is being offered at $360,000

In another Dublin neighborhood a 4 bedroom house near a golf course is being offered for $500,000 while a three bedroom nearby is still on sale at $1.3 million.

A studio  apartment in Temple Bar , Dublin’s Greenwich Village is going for $100,000 while one in the same building is currently being offered for $190,000.

The selling agents say the sale will reflect a floor or bottom price in the Irish market and as such will provide a a valuable service for properly valuing other properties.

Read more: British bank's sell off of Irish property - Ireland's first distress property auction

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