Everyone, it seems, is after one of those flats in the Irish Life Mall, off Lower Abbey Street and Talbot Street. To test the market the assurance company has decided to auction a handful of the units in the development. Once values have been established, it will then go on to sell a further 15 apartments, with the possibility of more of them coming on stream later this year. Because of the huge interest in the flats, the auction should be very interesting.

Hooke & McDonald, which will handle the sales, has had a constant stream of inquiries and is holding mass viewings twice a week. The initial price guides of £52,000 to £58,000 for two studios, and £75,000 to £98,000 for three one-bedroom units now seem positively Utopian.

Many of those who have called are first-time buyers, anxious to get a toehold in the city, but the odds are that the investors will get there first. Don't be surprised if Irish Life decides to set aside the second tranche of flats for sale to first-time buyers only. Given that it is still trying to patch up its image after the Mespil Flats fiasco a few years ago, the company will earn brownie points by helping those struggling at the bottom of the property heap.