Daft Property - Irish Property News

NAMA fire sales aim to breathe life back into market... Thousands chase property at knockdown prices as NAMA puts houses, farms, pubs and apartments up for sale. BARGAIN hunters came out in force yesterday after bad bank NAMA put nearly 1,000 properties up for sale in the largest single sell-off in the history of the State. The prospect of picking up a farm, pub, quarry, three-bed semi, hotel, apartment -- even an airport -- sparked an unprecedented wave of interest within hours of the list being published. NAMA chiefs even promised to finance some of the sales as the agency announced losses of €1.18bn on dealings for last year. It also revealed the extent to which NAMA is to recover money from reluctant debtors. In one case -- and as late as this week -- it seized jewellery worth €200,000 that had been given to a developer's partner. NAMA bosses insisted they were not running a fire sale and kept asking prices and bids received a closely guarded secret last night. Bu...

Allsop plans five fire sales a year... THE UK auction house Allsop and its Irish affiliate Space plans to hold up to five distressed property auctions a year following the success of its first auction last Friday when 81 out of 82 lots were sold for a total of €15 million. The next auction is scheduled for July 7th, when 200 lots will be auctioned, including apartments, tenanted shops, farms and houses. According to Space director Stephen McCarthy, his company is being inundated with requests from receivers, banks and individuals who want to sell their property fast. Many of the properties in Friday’s auction were sold by Bank of Scotland Ireland and it’s believe there is plenty more of this stock to sell. These include apartments in the Castleforbes development in the Dublin docklands, as well as units in Dublin 8 and in Castleknock. However, the agency is also considering taking on more agricultural land. One lot, a 55 acre farm in Co Wickow sold particularly well, making €42...