I would forget about it. If you think Ireland has a huge oversupply and is overpriced, you should see this place. I bought an apartment (penthouse) there in 2001. Prices were going up at the time but nowhere near where they eventually went to. I paid €165,000 for a two bed. 3 years later I decided to sell it as there was absolutely no rental income and I wasn't getting the personal use out of it. It was on the market for 3 years and in that time 5 people looked at it. Sold it at €170,000 2 years ago. And this was before the credit crunch etc. Reckon I wouldn't get a buyer now and if there was one it would only sell for about €90,000 to €100,000. Have a look at the place. loads of half finished developments and hardly any people in the ports. And this is the way its going to stay for many as year.
Rent a place. You can get the finest of places for around €400 per week high season and €200 per week low season. My community fees alone were €1,500 per year plus property tax of €500 plus water and electric etc.