All eyes will be focused this morning on the Real Estate Alliance auction where 59 properties are going under the hammer today for up to 60% less than their original asking price.
The auction, which kicked off at 11am in Dublin’s Shelbourne Hotel includes houses, apartments, commercial properties and development sites ranging in price from €60,000 to €1.5m. Most of what’s on offer today are located in the provinces where the market has taken a heavier hit than in the main cities and towns.
Some believe the auction will help provide the Government with a true valuation of properties across the country and will also reveal the answer to the million dollar question i.e. has the property market finally bottomed out?