Atlantic view flat and 15th century castle for less than the average price of a Londonderry house

The extraordinary collapse in property values in the Republic is demonstrated by the reserve prices quoted in a catalogue for an auction due to take place in the Shelbourne Hotel in Dublin on July 6.

It’s being run by Allsop, the UK’s most successful property auctioneer and Dublin property consultancy.

Amongst the property up for grabs is McFeely’s shop which is located on the Main Street of picturesque Moville.

The auctioneers have set a reserve price for McFeely’s at just £36k (45,000 euros).

Even lower is the reserve price for a two bedroom second floor apartment with Atlantic Ocean views in Bundoran in South West Donegal.

The property comprises a self-contained apartment situated on the second floor of a purpose built building arranged over ground and three upper floors and it could be yours for £14k (17,500 euros) incredibly.

Astonishingly, the advertised reserve price for the 15th Century White’s Castle in historic Athy in County Kildare is just £40k (50k euros).

White’s Castle is situated on Duke Street on the west bank of the River Barrow in the centre of Athy.

It was built in 1417 by Sir John Talbot, Viceroy of Ireland, to protect the bridge over the River Barrow.

The Castle was one of the most salient features in the town when in 1613 King James I granted a new charter - as he did with Londonderry - declaring the town to be a Borough consisting of a Sovereign, Bailiffs, Free Burgesses and a Freeman.

The reserve price is just £40k (50k euros) - less than a terraced house in Londonderry.

If you were interested you could bid for all three properties for less than the average price of a house in Londonderry UK City of Culture 2013.