More than 240 people applied to buy 36 new homes in north Co Dublin being sold under the affordable purchase scheme for prices starting at €291,000.
The initial phase of the Priory Fields development in Skerries includes nine one-bedroom apartments, nine two-beds and 18 three-bed duplexes. Exact prices are based on the annual incomes of successful purchasers, but the local authority has set minimum sale figures of €291,365 for the one-beds and €395,424 for the three-bed homes.
These are the first out of 176 social and “affordable” homes due to be delivered at the site being developed by the State’s affordable housing delivery body, the Land Development Agency (LDA), and Lydon construction company. The remaining 140 homes for social housing, sale and cost rental are due to be completed in the first quarter of next year. A further phase of development is expected to bring the number of houses on the site to 345.
Applications for the first 36 homes opened in late March and closed on Wednesday, with 241 buyers applying, according to Fingal County Council, which is managing the process alongside the LDA. It says applications are assessed on a first-come, first-served basis.
Assessments have begun and successful applicants will be notified in due course, the council said.
To be eligible for the scheme, prospective homebuyers must have annual incomes of below €74,813, €90,844 and €101,532 for the one-, two- and three-bed units respectively. Only first-time buyers or “fresh start” applicants (who are separated, divorced or have gone through an insolvency process) can qualify.
Under the affordable housing scheme, eligible buyers are offered a discount on the market value of homes, with the local authority taking an equity stake until the difference is repaid or the property is sold.
At Priory Fields the minimum affordable purchase price of the homes is between €58,600 and €79,500 less than market value, the council says.