The following article (in green) by Conor Pope appeared in yesterday's Irish Times. It demonstrates that the gap between reality and fantasy in the mind of the Irish property investor can still be measured in microns.
In a nutshell, those who bought investment apartments and semi-ds in godforsaken hellholes in the commuter belt of Dublin are looking to rent them out to golfing enthusiasts due to visit our little land for something called the Solheim Cup.
Apparently Paddy and Mary think unsuspecting, cash-rich (and no doubt colourfully dressed) foreigners will give them up to €5,100 for the privilege of staying in their two-bedroom apartment.
Hilarious. The idea of someone forking out 5 grand to forgo their villa with indoor swimming pool in Munich, in order to live in a pokey Irish investor apartment for a week, displays an incredible stupidity on the part of would-be Irish letters. They have no idea of standards elsewhere.
I hope Morgan Kelly is not talking about debt forgiveness for these idiots.
THE OWNERS of houses and apartments across Co Meath, which normally rent for less than €1,000 a month, are attempting to cash in on next month’s Solheim Cup golf match between the US and Europe in Killeen Castle by offering them for rent for as much as €15,000 for one week.
Anyone hoping to make a quick buck out of the prestigious golf tournament is likely to be disappointed, however. Local auctioneers and tourism officials said yesterday there was “absolutely no way” people travelling from overseas for the event would pay anything close to the amounts being sought.
A “modern, spacious two-bedroom apartment” in Ashbourne, Co Meath has a price tag of €5,100 for the week, while a three-bed house in the same town is available for €9,000. A four-bed house on the outskirts of Navan is up for grabs for €11,000, and a five-bed house in Trim is €15,000.
The prices are reminiscent of the Ryder Cup, which took place in Co Kildare in 2006. At that time, relatively modest semis and bungalows within a 40km radius of the K-Club were being advertised from €600 up to €30,000 for a week or two-week period. Take-up at that time for private lettings was also pretty slow.
This week there were close to 100 apartments and houses listed on a site which is unaffiliated with any tourism authority or the competition organisers. It is charging people €95 for each listing.
Local auctioneer Maureen Rafter said the chances of anyone being able to command anything close to the prices being quoted for their properties were remote. “Bless their little hearts but these prices are totally aspirational,” she told The Irish Times.
“We have been approached by several people with lovely houses which they want to put up for rent. They are asking if we have any potential clients, but the reality is we have yet to be approached by anyone looking for accommodation,” she said.
James Brennan of Meath Tourism said: “We don’t believe there is a market for these properties at all. It is mad stuff and we have nothing to do with it and the Solheim Cup organisers have nothing to do with it.
“There is still accommodation available in the county, and hotels in the county are at 80 per cent occupancy now,” Mr Brennan added.
“If something looks too good to be true then the chances are it is too good to be true and that is the case here. We would be very disappointed if anyone paid these kinds of prices.”
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