Daft Property - Irish Property News

LAST WEEKEND estate agents cheerfully reported that the “top end” of the residential market was showing signs of improvement, as, since the beginning of the year, they had sold 50 houses at €1 million plus and a certain percentage of those sales had even exceeded the €2 million mark. Given that, a mere five or six years ago, well-located but modest three-bed terraced houses were selling for that amount and considerably more, they hardly expected us to jump up and down with excitement at the news. And considering that a certain percentage of these properties would have been purchased within the last decade for approximately three times the figure they have recently achieved, their vendors are unlikely to be thrilled either, since despite selling their home many are probably still up to their necks in debt. But the estate agents did at least confirm that many of the trophy properties are being snapped up by ex-pats, who are now returning to the Irish property market a...