€5m worth of property sold at auction
Almost €5 million worth of property was sold at an O’Donnellan & Joyce Auction last week in Galway – with an 85% success rate and some of the remaining lots now under offer.
Auctioneer Colm O’Donnellan said there were more than 250 bidders pre-registered, which signalled that “there is still a great deal of money available in the marketplace and demand is strong for homes in Galway City, county and across the country”.
He said that video tours of properties were proving a success, with many people purchasing homes without having physically viewed them.
“A number of winning bids on the day came from international bidders in Canada, Bulgaria, UK and Holland who purchased their properties after viewing virtual tours,” said Mr O’Donnellan.
The first lot which went under the hammer was 6 Renmore Road in Galway, described as the “star of the show”. The spacious detached four-bed sits on a substantial site off the Old Dublin Road and there were close to 20 bids from a total of 16 bidders.
The lot commenced at the Advised Minimum Value of €350,000 but quickly rose in increments of €5,000 until the final few moments when the bids rose in increments of €1,000. The sale price was €467,000.
Among the other properties which went under the hammer included:
81 Forster Court, Galway. A four-bed semi-detached residence which is in good condition but could benefit from some cosmetic upgrading. This did not put off prospective buyers and after intense bidding, it sold for €395,000. The AMV was €350,000.
For more, read this week’s Connacht Tribune.
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