The Letterkenny apartment failed to attract bidders
Exclusive: A TWO bedroom apartment in Letterkenny failed to sell at the country’s biggest stressed property auction – despite a reserve price of just €25,000.
In another sign of how far the property market has sunk, Allsop Space failed to shift the flat in front of more than two thousand speculators in Dublin.
However a substantial property – The Fisherman’s Lodge on the Laghey Road, Pettigo – did sell for an astonishingly low €40,000.
It shows there is no sign of a recovery in property prices in other counties like Donegal, with one lot failing to sell and the other being sold off at such a low price.
Homes in Dublin, Cork and Galway did sell well – with many selling way above their reserve prices.
The ground floor apartment which didn’t sell – at 13 Fortwell – is situated just off Letterkenny’s main street. It comes with its own car parking space.
A spokesman for Allsop Space said that although the apartment failed to sell at Friday’s auction, it was still available to purchase at offers over the reserve price.
The Pettigo property is a substantial building.
It is a four-bedroom B&B and is pictured below.
Fisherman’s Lodge – sold for €40k