The prices are getting just ridiculous in Ireland. After holding out hoping the prices would go up, the banks and Nama are just selling establishments for anything they can get for them. Look at the Caiseal Mara with its 48 bedrooms which sold recently for €175,000.

The same auctioneers now have up for auction a pub in Ferbane, Co Offaly for just €20,000. This is not just some country pub. It is right on the main street of the town.

It’s not just a pub, it had living accommodation upstairs – so you could sell your house and buy it and live there. Not only that, but an adjacent two bedroom house is thrown in as well, for good measure.


For goodness sake, pub licences used to sell for up to €180,000. They must be virtually worthless now if you get a pub and house for 20 grand.

It extends to 4,000 square feet in all and Dublin is 80 miles away. They’ll be giving away places soon – or even paying you to take them.


You couldn’t see Ireland coming to this 10 years ago. This is what is called Capitulation on the market, when the last sellers, people who had been waiting for prices to rise, have now given it up as a bad job and will take any price they can get now.

The good news is that Capitulation is the very last leg of a downturn and things start to get better from that point on. As I said before it is like throwing up. You get rid of all the bad stuff and then start to feel better.

See here Town Pub for Sale