Price of sites in galway shows no sign of a recession !!

Price of a development site in galway… How’s €2.8 million an arce !!!

kmsgalway.com/itemdetail.asp?ItemID=121

We need The Welcome Guest to properly value it.

Looking at that website, they all have lovely bottoms!

In 2005 we looked at a site in Oranmore, Oran Island €650,000 ( no house) for 1/2 or 3/4, cant remember.

We bought a 5 bed house (1970sq ft) closer to the village for a damn sight less…

Galway races are coming up…

Ironic… cos €675k for a site there SUBJECT to planning permission is horse shite.

Various tracts of land north of the Western Distributor Road are for sale at prices so high that I seriously wonder whether their owners/developers are trying their damndest **NOT **to sell them, but, instead, are waiting upon their juicy NAMA bailout package…

Juicy things come to developers that wait…

Probably just up the evaluation until the NAMA boys come round. Surely evaluation should be made independently though?!?

Indeed.

Here’s my evaluation: I think house prices in Galway City are now roughly at late 2003 and still nose-diving.

Give me a shout when they hit 1991.