Kenmare holiday home sold for $61,000 down from $392,000

The 14 house 'ghost' estate in Annagh Banks in Castlemaine, Co Kerry

A holiday home in the picturesque town of Kenmare, County Kerry, has been sold at auction for just $61,000 (€50,000). The asking price for these houses at the height of Ireland’s property boom was $392,000 (€320,000).

The fully finished holiday home was one of five houses sold at public auction. In total the houses fetched $381,098 (€311,000). The highest price paid was $87,007 (€71,000).

The 30-unit housing estate is located close to the center of Kenmare village, in south Kerry, recently voted one of the top locations in the world to retire by Forbes magazine.

Tom Spillane, the auctioneer who sold the property, told the Irish Examiner he was satisfied with the sale. He said there was huge interest in the properties.

Spillane said, “The prices reflect the market and show that if the reserve is reasonable and there’s value for money, people will buy."

Meanwhile in Dublin, 78 properties sold for $13.8 million (€11.3m) at auction. Just four properties failed to sell at Allsop Space’s auction, at the Shelbourne Hotel.

A ghost estate of 14 unfinished homes, Annagh Banks in Castlemaine, County Kerry, had a reserve price of $61,266 (€50,000). The 3.03 acre development sold for $287,95 (€235,000).

The Irish Times reports that 26 Merrion Square, Dublin 2, (a Georgian house), which had a reserve price of $1.22 million (€1 m). It sold for $1.73 million (€1.42m).

White Castle, a 700-year-old castle in Athy, County Kildare, had a reserve price of $61,266 (€50,000). The 1417 castle sold for $238,921 (€195,000).

Robert Hoban, director of auctions at Allsop Space said the success of the auction was a “positive message was sent out today about the property market in general. Once again, it is clear that there is indeed a trading marketplace.”