Would you pay $20,000 for this little Irish cottage?Allsop

Officially this one-bedroom Irish cottage, based in Roscommon, is the cheapest house sold in Ireland in 2014, according to the Irish Independent newspaper.

The cozy home was sold for $20,000. The property is in Roscommon town, about 90 miles from Dublin, and is just over 500 square feet. It has parking, a fireplace and a large garden at the rear.

The home was sold at auction by Allsop, which specializes in foreclosure properties.

Allsop director of auctioneers Robert Hoban told the Irish Independent, "This would be a bit of an anomaly, but if people decide that that's what it's worth, that's its market value.

"We do get properties like that into us where they can't sell locally. Generally what happens is they would have tried the market first and then come to us, they would have potentially got more than they would have on the open market.”

The average price of a house nationwide is now roughly $275,000, up almost $40,000 this year.