Over €25.8 million worth of property was sold at the Allsop residential auction in the RDS yesterday.
The lots sold included an entire 46-house development in Dingle, County Kerry, which went for €2.9 million.
The homes, 22 three-bedroom and four-bedroom terraced homes, 14 three bedroom semi-detached homes and ten five bedroom homes, include holiday homes along the Wild Atlantic Way.
Twenty-one of the houses are rented out to a holiday letting company and one is occupied by the caretaker, a further 10 are being privately rented. The rest are empty.
A development of ten apartments off Dublin 8’s Clanbrassil Street sold for €3.5 million and a commercial development of 10 retail units, 19 apartments and 10 townhouses in Ballivor, County Meath sold for just over €1 million.
Just 69% of the 193 lots offered on the day sold.
Robert Hoban, Director of Auctions at Allsop said that a number of units failed to sell because the owners were asking for too much.
“The market is much more price sensitive than it was at our February auction. While we witnessed strong prices for properties in good locations, a number of secondary properties failed to sell because they were overpriced.
“It is clear that buyers are being cautious, the bidding was much more focussed on particular properties with prime Dublin investments and well-priced properties in Cork, Limerick and Galway.