Daft Property - Irish Property News

€1 million price drop for well located property... DONNYBROOK €2.25m This four-bedroom house on Nutley Lane, which was extensively and expensively refurbished, has seen its price fall by more than €1 million EXACTLY ONE YEAR ago we carried a review of a house at 18 Nutley Lane in Donnybrook that had been bought as an investment with the intention of doing it up and sellling it on at a profit. The owners of the four-bedroom house purchased it in 2006, paid stamp duty at nine per cent, and spent several hundred thousand on renovations. In all, they probably spent in the region of €3.5 million. It went back on the market last November at €3.25 million, to snorts of disbelief from rival agents who were finding it difficult to shift property in the area for a good deal less. The price has been gradually dropping ever since, but the latest discount has landed number 18 at €2.25 million, a full million below its 2007 price. Selling agent Felicity Fox hopes this latest cut might tempt buyers w

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