O’Donnellan & Joyce auctioneers in Galway is due to hold a mega property auction on Friday March 14 when it places what is anticipated to be a record number of properties for sale by public auction. Anybody who has an interest in placing their property for sale in this forthcoming auction should register with the agents.
Colm O’Donnellan of O’Donnellan and Joyce outlined that the disposal of property by public auction has become the best way to sell properties in the current climate. Last year O’Donnellan and Joyce sold a record number of properties with a 90 per cent success rate making O’Donnellan and Joyce the undisputed market leaders in the west of Ireland selling properties by auction.
Currently there is enormous interest particularly from cash clients at home and overseas who are looking to purchase properties in the Mayo area. There is a general sense that the property market has reached the bottom and property is starting to move, which was the experience of O’Donnellan and Joyce within the last six months of 2013. So for the cash customers there was the added incentive that if you require a property in 2014 and hold it for seven years there is no capital gains tax. This is a huge incentive for investors as there is no other asset that you can hold and sell at a profit that is tax free. This incentive lined with little or no return on money in the bank is expected to create an avalanche of interest from investors in 2014, particularly from cash investors at home and overseas. It is the experience of O’Donnellan and Joyce in the last six months that banks at long last are starting to return to the market particularly for first time buyers and homeowners.
O’Donnellan and Joyce holds its auctions in the Harbour Hotel in Galway city which is packed to capacity with buyers and interested parties. The auctions are streamed live by Brandt Studios in conjunction with the Mayo Advertiser and can be watched on the website at both home and abroad. Such was the success of the streaming of the auction last year, that for many people viewing it gives them a great insight as to what is happening in the market and is watched with tremendous interest particularly by overseas buyers.
O’Donnellan and Joyce is actively looking for property throughout Mayo and the west of Ireland for its next auction which takes place on March 14, 2014. Anyone interested in placing property for sale by public auction can contact a member of the auction team at O’Donnellan & Joyce 091 564212 or by email: info@odo nnjoyce.com
