Nearly 300 first-time buyer families sign up for just 16 affordable new homes in Dublin

Nearly 300 people have applied to enter a lottery for 16 affordable homes under construction in south Dublin.

three bedroom heplexes is a pilot program in the Kilcarbery Grange development in Clondalkin on the first South Dublin Council site to be built under the new affordable housing scheme.

The homes are priced from a minimum of €245,600 to a maximum of €285,300, discounted from 10pc to 20pc from market value.

Applications opened on 1 March for first-time buyers with a household income of up to €73,362.

293 applications were received by last Friday’s closing date and are currently being evaluated by the panel.

Houses are being built next to the 120 hectare Corkagh Park, which is one of the largest parks in Dublin.

The board will receive shares at a share rate depending on the drop from the market rate between 10pc and 20pc.

Half of the 16 homes are counted as having a market value of €307,000, with the rest having a value of €317,000.

The Kilcarbery Grange plan includes a total of 1,034 homes being developed with the council by Adwood, a joint venture of Maplewood and Grandbrind Groups.

According to the agreement, regarding public land, 70pc will be sold to private and 30pc to public housing including rent, social and rental costs.

Eligible buyers must have mortgage approval in place and households must have at least three members to qualify.

Half of the homes will be available to applicants who have lived in the south Dublin administrative area for a minimum of 12 months.

Eligible applicants will be selected by computerized lottery.

16 homes are expected to be completed and ready for occupancy by June and is the first of 50 affordable homes planned for sale in Kilcarbery. Nearly 300 first-time buyer families sign up for just 16 affordable new homes in Dublin

Fry Electronics Team

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