This has to be the one to beat them all. Donegal developer, PJ Doherty selling 3 bed houses in Milford Co. Donegal, he says he has 5 out of 44 unsold for the last 8 months so he is throwing in a 38sq metre 1 bed studio apartment in Bulgaria for free. He says the apartment would cost you €40k to purchase. The houses are for sale at €210k. That’s some commute from the top end of Donegal to Bulgaria!!
Listen into Drivetime Radio 1 about 6.10pm later on.
Why are developers doing this? Is 1 single logical reason why these gimmicks are constantly used?
Drop The Price!
Drop The Price!
Drop The Price!
Drop The Price!
Drop The Price!
Drop The Price!
It’s all to do with the resentment that the earlier purchasers will feel at paying out over the odds if the price is dropped and they will be in a visible negative equity although they are already so in reality anyway. Plus the developer in this case gets to kill two birds with one stone by getting rid of a few of his Bulgarian apartments.
It started with flat screen TVs, quickly moved onto cars, now it’s moved onto Apartments!
What’s next??
Another house 
It is happening all over the Country
A new scheme will be advertised in Bailieborough next week. I ten people sign up to buy a house at a few hundred grand. the ten names go in a hat and one gets the house for a hundred grand.
In meath if you buy a house you can win a car.
Developers must think people are mugs
If I buy the Donegal house will my valuation report indicate the house is worth the purchase price or the purchase price less the value of the apartment?
A spouse?
They “look after” your mother-in-law?
Where do i sign !! 
Old habits die hard.
It’s not that long ago when people were queing up outside new-builds, frantically signing over a deposit cheque, in their rush to get on the ladder.
What a surreal interview.
She asked how much the apartment was worth. He told her the “fair price” would be 40,000 euros
Which confused her. “40,000 is the fair price, what are you charging?”
“40,000”
I liked the way he described this studio apartment as a “Four Star” apartment.
-Rd
Hmm!
Here are some very recent pictures of the Bulgarian Complex , Privacy Beach Resort
https://realestate.goin2travel.com/assets/images/realestate/364/full/PICT0041.jpg
and
https://realestate.goin2travel.com/assets/images/realestate/364/full/PICT0044.jpg
PJ on his own website says
However the Bulgarian Agent still believes that completion is due in October 2008 if you look here .
realestate.goin2travel.com/homes/364.htm
Which is where I got the pics. PJs website shows us what it should look like when its finished . Hop to it there PJ .
This Bulgarian Agent reckons fair price is €45k Euros or was in July …but at least he is not promising completion next month.
I wouldn’t have the greatest knowledge of house prices in the country but €310k for a 3 bed semi in Donegal that’s 11 miles from Letterkenny seems a fair bit on the expensive side.
Are tied sales not illegal in Ireland? i.e. you can’t “tie” two different products in a bundle in France, for instance (this is sometimes used to get the “Microsoft refund” on PCs by Opensource-software users). The customer always has the option to say I’ll just take the one, so please deduct the price of the other.
Legislation in France, forbidding “vente liee” (in French): fr.wikipedia.org/wiki/Vente_li%C3%A9e
Legislation in America en.wikipedia.org/wiki/Tying_(commerce
I would worry more about ‘gift tax’ TBH
I can see developers knocking the walls between sets of semi-D houses in ghost estates, bumping the price up by ~40% and selling it as a single unit.
Suddenly a 300K 3 bed semi detached becomes a 400-450k 6 bed detached with 2 driveways 
I can see them looking for 400-450k 6 bed detached with 2 driveways in a ghost estate in the middle of nowhere - I can’t see them getting it though 
A bank???
My Father, a Builder, did exactly this for a few guys in the 70-80s, of course these were very nice semi-Ds to begin with & afterwards they were fantastic.
Take a sledge-hammer to anything built in the last 10 years & the whole bloody lot will probably end up on your head