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Moville land price explosion

Posted Monday, June 11, 2007

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Moville Land Price Explosion

I saw a couple of plots of land adjoining each other on my shore walk the other day. They were just before you get to Lafferty's Lane.

I asked somebody what they thought they would cost as I had heard that land prices in Moville were going through the roof.

"Ones down there would go for about €130,000" they said.

Price Request

That wasn't too bad, I thought, considering the location so I jotted the estate agent's website address down on my newspaper.

When I got back I logged on and sent them an email asking the price.

I got an email back saying that the owner wanted £500.00 for each.

That seemed very reasonable. I could pay for both in cash I thought.

Mistake

Of course I realised it must have been a mistake.

But what was the mistake?

Was it £500,000 a plot?

Surely not!

Was it £50,000 a plot?

That seemed too little.

Real Price

I emailed them back saying that I think there had been a bit of a typo in the info they sent me.

They got back to me soon after.

They said that the owner wanted £500,000 for each plot.

Instant Millionnaire

That means that the piece of land in our pictures is worth a million pounds sterling or around €1.5m.

The sale of both would make the owner an instant millionaire in sterling, dollars or Euros.

Any buyer would have to shell out three quarters of a million Euros and would still have the cost of building a house after that.

It is situated close to a looming Sewage Treatment Plant as well.

Location

I suppose it is all about location, location, location - and it is an excellent location.

But where is this land price explosion going to end!