Stunning Kildare estate sells for a staggering €68M below asking price

While some of the prices being touted for properties during the boom years were absolutely obscene, the market came crashing down from 2009 onwards and began to eventually undervalue properties that held such high asking prices.

Lyons Demense, a stunning property in Celbridge, has apparently dropped in value by almost €68 million over the course of seven years. The property, which was purchased for just £3.5 million in 1996 by Ryanair founder Tony Ryan, was up for sale in 2009 for €80 million. It has now been listed on the property price register with a 'full market price' of €12,073,334 after it was sold at the beginning of October.

The Sunday Times property section report that it may have been sold to a family member, meaning the price was dropped deliberately to keep the property in the family.

Ryan spent more than €80 million on renovating the stunning 620-acre site, and though they tried to find a buyer by dropping the value of the property to €30 in 2014, no interested parties met the valuation.