Boom properties go under hammer at 'distressed homes' auction
Homes that were once worth millions of euro could be sold for a fraction of the price at Ireland's first ever "distressed property auction" in Dublin today.
Highlights include a penthouse apartment in Dublin's Chancery Lane, which three years ago would have cost €1m. Today, the reserve price is a quarter of that.
The majority of properties are being sold by receivers and include homes in Dublin, Wicklow and Galway as well as small commercial buildings and shops.
Liquidator Tom Murray said the auction would help clarify the true value of the country's housing stock.
The sale takes palce this afternoon in Dublin's Shelboure Hotel at 12.15pm.
