An apartment complex in Mullingar has been attracting national attention in recent days as homes in the development go on sale for less than €70,000 this weekend.
Apartments at Tailteann Court, Irishtown, Mullingar, have dropped almost two thirds in price since they first came on the market.
Prices for a unit in the complex now start at €69,950 for one-bedroom apartments, €82,450 for two-bedroom, and €98,000 for three-bedroom units. Net repayments on the apartments could be as little as €265 per month.
Mortgages of up to 92 per cent are being arranged by the Irish Mortgage Corporation for first-time buyers, and up to 75 per cent of the price for investors who plan to rent them out.
Some 63 apartments were originally built by the developer at Tailteann Court; however none were sold before a receiver was appointed on foot of debts of €7.8 million.
Receiver John McStay is now hoping to recoup €2 million by selling 28 apartments at discounts of between 55 and 63 per cent of the original prices.
Local estate agent and councillor Aidan Davitt says there has already been substantial interest in the properties.
