Online property company Funda Ireland has ceased operations after just six months in business.
The decision to wind down the company and its www.funda.ie website was taken after a recent review of its strategy and analysis of the market conditions in Ireland. The site was operated in association with the Irish Auctioneers and Valuers Institute.
Its Dutch parent company decided that it could not build a strong enough position in the market to make the business viable. It had aimed to become one of the top three online property websites, competing with sites such as Daft.ie and MyHome.ie.
Two of the Irish firm's six staff have been offered positions in the Netherlands. Funda acquired the property search website Realestate.ie in May last year before re-launching it under its own brand.
