Cheapest in Ireland? - Limerick house on the market for just €20,000

Nick Rabbitts

Reporter:

Nick Rabbitts

Email:

nick.rabbitts@limerickleader.ie

Cheapest in Ireland? - Limerick house on the market for just €20,000

WITH a price tag of just €20,000, it must be one of the cheapest homes in the country. But while it may appear at first glance to be a steal, this home on the Hyde Road will require tens of thousands of euro of investment to bring it up to standard – and that’s before other issues which are associated with it are dealt with.

The end-of-terrace three bedroom property at the Hyde Road will go under the hammer at an online auction next week.

However, it’s understood only a handful of enquiries have been made for the unit in Prospect, and it’s unclear whether it will go for much beyond its low reserve price when bidding begins.

That’s because it's not the first time it’s come to market, and sources have indicated that heretofore, it has not sold.

The prospectus of the property states it's “in need to extensive repairs” and was subject to “extensive fire damage”.

Tiles are damaged, the roof of the two-up, two down is damaged, sources have also indicated.

So-called “neighbouring third parties” also have access to the backyard and part of the property, it’s understood.

Extending to 818 square foot, the home is subject to a tenancy “at terms unknown” auctioneer BidX1 states in its material.

However, there is off-street parking, and gardens at the front and rear.

BidX1 has advised that no inspections of the home are available at present.

However, a local source has said it is an ideal place to live in.

“People in the area are very interested to see this come back into use. The location is great, there is a bus outside which goes to the Crescent and goes to town,” they said.

A brief search on the property sales web site www.daft.ie reveals there are only two other homes on the market for under €20,000 – both in Co Roscommon.

The average house price in Ireland is now at €253,868.