State-subsidised scheme will see Coolock house prices starting at €254,358
The first homes in Dublin City Council’s flagship affordable purchase housing estate, Oscar Traynor Woods in Coolock, will finally open for applications on Tuesday morning with prices starting at €254,358.
The scheme works by offering eligible buyers a discount on the market value with the State taking an equity stake in the home to reflect the discount given. While these higher-income buyers can still qualify for the scheme, the council has agreed to offer new lower prices to allow more buyers to qualify.Anne Enright on Edna O’Brien: She never left Ireland, yet couldn’t live here either
Four of these will be three-bedroom houses ranging in price from €360,931 for buyers with a minimum household income of €81,000 to €475,000 for buyers earning up to €106,875. On the open market these houses would be worth €500,000 at prices independently assessed in June and agreed by the council’s valuation office.
Applications will be open from 9am on Tuesday and will close on August 20th at 1pm. With just 16 homes available in this first sale, it is likely there will be more qualifying applicants than homes, so once eligibility has been established, the council will run a lottery to determine which buyers will be selected.
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