Rich Americans buy up Irish castles at rock bottom rates

WEALTHY Americans, eager to trace their Celtic roots, have been snapping up Irish castles and stately homes at rock-bottom prices.

One of the first Americans to land himself a bargain was billionaire businessman John Malone who paid just 8 million euros for the 32,668-square-foot Humewood Castle in Kiltegan, County Wicklow.

That’s about a third of what the sprawling castle, built in the 1860s on 427 acres, sold for in 2006 during the boom in the Irish economy.

Irish property developers Lalco Holdings, the previous owners, had paid a whopping 25 million euros for the castle, hoping to develop it as one of Ireland’s leading luxury resorts with golf course included. But their plans were cruelly shattered after the property bubble burst in 2008.

Boasting 15 bedrooms, a ballroom, a banqueting hall and a billiards room, among its amenities, the historic building is certainly impressive.

However, Mr John Malone, 72, insists it is not just about the money.

“I didn’t buy Humewood as a financial investment,” Mr. Malone, the chairman of telecom giant Liberty Global, told the New York Times. “It’s an act of love rather than financial acumen.”

Irish American Mr. Malone, who traced his heritage back to an ancestor who arrived in Pennsylvania from Ireland in the 1830s, is among an increasing number of Americans who want to return to their Irish roots and buy castles and manor houses in the Emerald Isle at bargain prices.

Mr Malone insists he bought Humewood Castle as a family retreat that he and his wife would visit five or six times a year

According to a New York Times investigation, many of the castles and stately homes are changing hands for about a third of 2007 levels, thanks to the country’s exodus of property developers.

Advertisements

3 Responses to “Rich Americans buy up Irish castles at rock bottom rates”


  1. 1 cm punk shirts July 17, 2014 at 4:36 pm

    I know this if off topic but I’m looking into starting my own blog and was curious
    what all is required to get set up? I’m assuming having a blog like yours would cost a
    pretty penny? I’m not very web smart so I’m not 100% certain. Any
    tips or advice would be greatly appreciated.
    Thank you

  2. 2 what t shirts July 25, 2014 at 7:01 am

    Hello! Would you mind if I share your blog with my zynga group?
    There’s a lot of folks that I think would really enjoy your content.

    Please let me know. Cheers

  3. 3 wwe shop cm punk t shirt July 25, 2014 at 6:31 pm

    I don’t even know how I ended up here, but I thought this post was good.
    I do not know who you are but definitely you’re going to a famous blogger if you are not already 😉 Cheers!


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




All the news that's printed to fit from New York's best online information source.

Latest news:

RSS New York Times

RSS NY Daily News

  • An error has occurred; the feed is probably down. Try again later.

RSS New York Post

RSS USA Today

  • An error has occurred; the feed is probably down. Try again later.
Website redesign by BST Designs

%d bloggers like this: