There is no way to put a single price on a cottage – they are as individual as each person on this planet. They will never be like the identical 3 bed semi-d in a large housing estate that allows for easy price comparison.
The Sunday Times released their Price Guide for 2011 on the 6th of February where they have attempted to determine prices achieved by surveying an auctioneer in each area around Ireland. This survey is largely based on opinion so these statistics must be taken with a pinch of salt.
I’ve used their prices for a two bedroomed cottage unless otherwise stated to calculate the average Irish Cottage Price. Unfortunately not every county had a listing in this category so not all counties are represented.
One of the largest drops seems to have been in Dublin 14 ( Churchtown, Clonskeagh, Dundrum, Goatstown, Kilmacud, Milltown, Rathfarnham, Stillorgan, Windy Arbor) which is attributed to the ‘luas bounce’ – over enthusiastic buyers paying too much believing that the Luas would drive up the values.
In the country the worst hit seems to be Co. Galway with the cost of a holiday cottage down from €425,000 to €130,000 – a staggering 70% price drop! A quick search of myhome shows that there are cottages for sale for as little as €35,000 up to €600,000 depending on the condition and location of the cottage. That will show you the range of prices in reality.
It’s a tough time for people caught in negative equity at the moment but it is a great time for cottage enthusiasts as cottages become reasonably affordable again.