Hundreds expected at distressed property auction

Around 1,000 people are expected to attend today's Allsop Space distressed property auction at Dublin's RDS.

More than 200 properties are going under the hammer.

A mixture of Irish and overseas buyers will bid on the lots.

Robert Hoban, director of auctions with Allsop Space, thinks Irish buyers will dominate, however.

"While the number of overseas bidders has increased by about 100% as regards bidding over the phone for the auction, the actual umber of successful bidders from overseas has decreased," he said.

"So we're now seeing 94% of properties selling to Irish buyers. It was about 83% at some stage two years ago.

"So while the competition as regards bidding has increased, the confidence has obviously increased with the domestic buyers."

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