O’Donnellan & Joyce auctioneers will hold its next auction on June 27. Due to the success of its last auction the agent has received a huge number of enquiries from clients wishing to place properties for sale by public auction. Anyone with an interest in placing a property for sale by public auction should register with the agents.
According to Colm O’Donnellan of O’Donnellan & Joyce the disposal of property by public auction has become the best way to sell properties in the current climate. The agents are achieving in excess of a 90 per cent success rate, making O’Donnellan & Joyce a market leader 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 Galway area and throughout the west of Ireland. There is a general sense that the property market has reached the bottom and property is starting to move. Also for cash customers there is the added incentive that if you acquire 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, along 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 & Joyce in the last six months that banks at long last are starting to return to the market, particularly for first time buyers and home owners.
O’Donnellan & Joyce holds its auctions in the Harbour Hotel in Galway city and the auctions are packed to capacity with buyers and interested parties. The auctions are streamed live by Brandt Studios in conjunction with the Galway Advertiser and can be watched online at home and abroad. The live auction stream has proved very successful and, as it gives viewers a great insight as to what is happening in the market, it is watched with tremendous interest particularly by overseas buyers.
Anyone interested in placing a property for sale by public auction can contact a member of the auction team at O’Donnellan & Joyce at (091 ) 564212 or by email at [email protected].