No slowdown yet as city apartments worth £11.5 million sell out in two days

Though the end of the new homes selling season is fast approaching, there seems to be no slowdown in sales

Though the end of the new homes selling season is fast approaching, there seems to be no slowdown in sales. A development of 70 apartments, valued at £11.5 million and located midway between Trinity College and Tara Street DART Station in Dublin 1, was sold within two days by agents Finnegan Menton. The majority of the units were bought by investors looking for a tax shelter for their residential portfolios. The apartments made an average of £305 a sq ft, ranging from £130,000 to £150,000 for small one-bedroom units. Two-bedroom homes fetched between £170,000 and £250,000, while a threebedroom penthouse went for £300,000. Apart from the attraction of Section 23 tax breaks, the College Gate scheme was an immediate hit because of its superb location on Townsend Street. Occupants will have the opportunity of using the new pool and gymnasium that is being developed on the ground floor for Dublin Corporation.