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comment on article 20 Comments
Posted on Thursday, September 02, 2010 at 05:39 AM


A $2 dollar house for sale in Ireland as property bust continues


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Now I knew things were slow in Ireland but a house for sale for $2.00 beats the band.

And it is not a joke.

Galway truck driver Michael Dempsey feels the house he built to pay for his retirement has become such a financial burden on him that he is ready to essentially give it away.

He built it between the two towns of Moylough and Mountbellew. It was worth close to $500,000 at the height of the boom.

Now it's worth $2.

Michael wanted to build and sell it as his nest egg for retirement. He lives elsewhere

When the 'for sale' sign went up however, no one came looking the first week or the second, or the third week or ever.

"It's a beautiful new house with four bedrooms. It's a shame no one is living in it," he said.

Michael told the Irish media : "When I decided to build it banks were giving out money all over the place. I went in at one stage looking for e25,000 and came out with €50,000.

"They ended up lending me 10 times my income, but it seems they were doing that to everyone.

"But the loan was secured against the house I live in, so I'm free to sell this house for any price. I have the deeds to it and am genuinely willing to consider any offer over €1.

"I didn't think things could get this bad in this country, but they have and this highlights it."


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Posted by daisey400 on Nov 20, 2010, 03:25 AM EST
we will even buy this house for $300 austrlaian please, can you let this man know how do we get in touch with him please, thanks june daisey500@gmail.com june
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Posted by daisey400 on Nov 20, 2010, 03:25 AM EST
we want to buy this house,how do we do this, its fantastic, and I am irish june murphy please, can someone ring us 0434 711 630 and we will buy this house, thanks june
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Posted by daisey400 on Nov 20, 2010, 03:24 AM EST
we want to buy this house,how do we do this, its fantastic, and I am irish june murphy please, can someone ring us 0434 711 630 and we will buy this house, thanks june
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Posted by Supergurl24 on Sep 06, 2010, 11:26 PM EDT
I would love to live there! Oh my Gosh its beautiful!
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Posted by norinalundy on Sep 05, 2010, 11:03 AM EDT
Hey, I'd love to own it - but I am sure there is a family in the town or surrounding areas that could use a house
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Posted by letmegohome on Sep 04, 2010, 12:44 PM EDT
What a shame to almost give away his home. I would love to own property in Ireland. I don't know if Americans such as myself could buy there. For $2.00 it sounds good though. I hope he does well with it.
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Posted by celticsol on Sep 04, 2010, 10:22 AM EDT
I wish he'd sell the place to me ! ( Can a Yank own property in Ireland ? )
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Posted by oldbear on Sep 04, 2010, 05:51 AM EDT
Bloody shame the owner must take such a loss on his lovely home.
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Posted by killowen on Sep 03, 2010, 06:53 PM EDT
There's a catch - house under water, built over a fairy rath. a rowdy pub crowd or tinkers next door. Curry loving blow-ins who smell up the place nearby. Could be. Give it as prize to All-Ireland champions of hurley and football who decides the winner to be in a raffle. The GAA only gives the boys/girls only medals and rake in the big bucks for their bloodsucking selves.
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Posted by relfering on Sep 03, 2010, 10:27 AM EDT
GOOD ADVERTIZING STRATEGY! This should spark a bidding war and he will at least get some return on his money and the buyer will most likely get a good deal. Smart man.
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Posted by BallinaLass on Sep 03, 2010, 10:05 AM EDT
€200 each year in property tax to the county - not bad at all.
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Posted by BallinaLass on Sep 03, 2010, 10:01 AM EDT
What are the taxes like?
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Posted by kateekorn on Sep 03, 2010, 09:49 AM EDT
what would i do with a house in Ireland? #1 they wouldn't hire me for a job, 2 I couldn't afford the taxes. 3 why would i want to retire in a place as damp as the place i live in now, Rainy Oregon! :)
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Posted by LoveDoolin on Sep 03, 2010, 09:12 AM EDT
I'll be happy to go higher than $2. How about $100? I'm going to be in Galway next Friday, 10 September. Where should we meet to sign the deed? Let me know!
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Posted by phk3cats on Sep 03, 2010, 09:00 AM EDT
I would be willing to give him $2.00 for the house.I am Irish. But it shouldn't matter. I believe in taking care of the land. The land lasts not the people.
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Posted by DennisQ on Sep 03, 2010, 05:03 AM EDT
I'll buy the house for $2, but I'm looking for somebody to pay $4 for it. That way I can double my investment overnight.
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Posted by CullenAbroad on Sep 02, 2010, 08:39 PM EDT
(Per the Irish Times) - Mr Dempsey said. He can be contacted by writing to him at Gatestown, Moylough, Co Galway.
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Posted by CullenAbroad on Sep 02, 2010, 08:35 PM EDT
How do we contact Michael?
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Posted by johnymac60 on Sep 02, 2010, 12:11 PM EDT
I'd like to contact Michael and offer a bid. Is there some way to find out what the current bid is?
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Posted by McNamara31 on Sep 02, 2010, 12:08 PM EDT
May I offer one suggestion...Many Irish in the States have duo citizenship and some contemplate retiring in Ireland. It would be worth a shot to list the property it in the newspapers in America that have large Irish populations. This can be done in Irish papers as well as very inexpensive papers such a "The Pennysaver" in the States. Best of luck to you Mic. Also IC, do you know the best online website that display these properties in Ireland to give a further hand to the many Irish in this situation?
 




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