Half price luxury homes

Five luxury homes in a development in Kilmacanogue, Co Wicklow, Ireland, have had their prices slashed by up to €1 million each.

Five luxury homes in Rocky Valley Crescent, have been dropped to under €900,000 – the original asking prices were in excess of  €1.8 million, meaning a reduction of over 50%. Roscommon builder Alan Hanly’s Laragan Developments,  went bust earlier thsi year ad the homes have been siezed and offered for sale by a receiver.

The quiet estate of 32 houses, beside Avoca Handweavers, is made up of substantial detached houses laid out in small cul-de-sacs.
A condition of the planning permission was that buyers must have been living or working in Co Wicklow for at least one year whoich may hamper any sales. The five houses range in size from 2,540sq ft to 3,876sq ft and include one 4-bedroom homes, and four 5-bedroom homes. All these homes are 3 storeys high and luxuriously appointed. http://www.htmor.com/

Clearly, the so-called credit crunch continues to be an issue, and I suspect that the other 26 owners, who bought during the boom and paid full prices are not quite so happy as whomever buys at these prices – if they sell.