Investors who still believe in property as a means to make an income and some capital gain, are expected to flock to the second auction sale of repossessed Irish housing stock.
Auctioneers Allsop confirms the first sale attracted over 1,000 buyers - so many in fact, that bidding took place in the street outside the auction hall. Around 20% of buyers were non-Irish, with investors from England, Scotland, France and Israel. Out of 82 lots, 81 were sold for a total of €15 million. Many of these properties had been repossessed by Royal Bank of Scotland.
The next auction is scheduled for 6th July when 200 lots will go under the hammer, including apartments, tenanted shops, farms and houses. Dublin property consultants, Space, who is working with Allsop on this sale, confirms they’ve been inundated with requests from receivers, banks and individuals who want to sell their property fast.
Both auctioneers are expecting international buyers to return in even greater numbers. www.space4u.ie
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