Walford, Shrewsbury Road, Dublin
4,000sqft Tudor style house
Sold 2005 €58 million
For Sale 2011 €15 million
[hat-tip Don, by e-mail]
That’s about 75% off.
When a speculative mania ends, the high end of the market is as vulnerable as any other.
Owners like to argue that, for some particular reason, their enclave will be relatively resistant to any possible market drops; they are uniformly wrong, across all property types.
More from the Guardian article [22 Sep 2011] -
“Dunne was one of the most colourful characters in the Celtic Tiger – he paid record prices for the Jurys and Berkeley Court hotels just down the road from Walford in the heart of leafy Ballsbridge – with a view to knocking them down and creating a mini-Manhattan…”
What is it with speculative bubbles and Manhattan-wannabes?