More than 200 apartments were sold within 24 hours yesterday in a new development in Sandyford, Co Dublin, after some of the buyers had queued overnight on the site.
Work has only begun on The Edges apartment complex and owners will not be able to take possession until 2008. However, the delay will appeal to many who secured apartments with a 10 per cent deposit, with the prospect of capital appreciation of up to 20 per cent over the next two years.
The Edges apartment complex is part of the larger Beacon South Quarter which will have close to 1,000 homes.
Last year 300 were sold off the plans within hours, each time bought by both investors and 20- and 30- somethings, many funded by their parents, according to Ross McParland of Sherry FitzGerald New Homes.
One-bedroom apartments started at €330,000 while two-bedroom units ranged from €405,000 to over €470,000. Three-bedroom duplexes were available at €625,000.