Daft Property - Irish Property News

More price cuts as season starts... There will be a drop in the supply of houses new to the market in 2009, but sellers are still having to cut prices - again... THE DUBLIN property market has opened with price cuts at all levels of the market, as sellers digest news of the country's deteriorating finances and economists' gloomy forecasts. Estate agents are taking a fresh look at their stock and advising sellers to reconsider prices. The reassessment is going on at all levels of the market, according to Peter Kenny of Colliers, where notable price cuts include €130,000 off a three-bedroom penthouse in a development at Old Conna, Riverdale, on Dargle Road, Bray, Co Wicklow. The 130sq m (1,400 sq ft) apartment with river views has has been reduced from €560,000 to €430,000. Colliers has also dropped the price of a four-bedroom semi at Burnaby Mill in Greystones from €720,000 to €580,000 in an effort to attract buyers, while in Dún Laoghaire, Gunne has just dropped the price of an

AS CHRISTMAS and 2009 loom some vendors are cutting prices to get buyers off the fence . Number 7 Claremont Road in Howth has a new asking price of €3.75m, down from €4.8m, a drop of €1.05m or 22 per cent. For sale through Savills, the four-bed Georgian-style home first came on the market in August. It ticks all the boxes for a trophy home with 418sq m (4,500sq ft) of space and three large reception rooms. A large basement could be used as a gym, music room or home cinema. Gunne Residential is asking €1.95m for an Edwardian semi - 4 Proby Square off Carysfort Avenue in Blackrock, Co Dublin - which is a 29 per cent drop from the original price of €2.75m. The house has been on the market a number of times in the past five years. In September 2003 it sold for €1.625m with 0.25 acres of rear and side garden with development potential. The following year the house sold with a substantially reduced garden for €1.5m. The six-bed, 300sq m (3,200sq ft) house is in a cul-de-sac. Gunne Residentia

Latest round of cuts as vendors move to sell... Prices are tumbling at all levels of the market as homeowners accept that this is what's needed to tempt buyers ...four with deep price cuts: BAGGOT STREET FROM €5M TO €3.8M NUMBER 72 LOWER Baggot Street was priced at €5 million when it first came to the market in August 2006. Since then this price has been revised down to €3.8 million by selling agent Lisney, a cut of €120,000 or 24 per cent. One of the last inhabited houses on Lower Baggot Street, the four-storey over garden level terraced house has been used as a home and dental practice for many years. The 392sq m (4,200sq ft) of living space includes a self-contained flat in the basement. It is also one of the few houses on that part of Baggot Street to still retain its full garden and mews - a two-storey mews house with three small bedrooms, and rear access onto a laneway. The house was put up for auction back in September 2006, but failed to sell. It has been on the market quie

Desperation as luxury home prices halved... A DEVELOPER of luxury homes just 11km from Dublin Airport has been forced to slash the €1.4m sales price in half in a bid to attract buyers. Detached five-bed houses at Lynnwood in Ballyboughal, in north Co Dublin, originally went on the market for €1.4m. The 3,013-sq-ft (280sq-m) houses were first reduced by €450,000 in a bid to attract purchase-shy buyers. Then on Tuesday, the price was cut back another €100,000 to €850,000. By late yesterday, developers Area Building dropped the price by another €100,000 to €750,000. The move to cut the price in half came days after leading developer Taggart was forced into administration. Selling agent Paul Tobin said the homes were fully fitted out to a high standard. He insisted that the developer had spent €1.1m building each of the houses in the small scheme, once land values and construction costs were added together. Mr Tobin said the developer had been trying to sell the houses for months and was n