+34
The company has sold 350 apartments in its new Seven Mills development, with mortgage payments on some units estimated at about €800 a month
The company has sold 350 apartments in its new Seven Mills development, with mortgage payments on some units estimated at about €800 a month The Seven Mills development in Dublin 22 will be about the size of Maynooth once completed, with more than 5,000 new homes.
Photograph: Cairn HomesThe housing developer has sold 350 apartments that were built in its new Seven Mills development in Dublin 22. It has advertised a 51.5sq m, one-bedroom at prices between €235,000 and €275,000, while a 79.9sq m two-bedroom apartment costs circa €375,000.
These homes have been built with support from the State’s Croí Cónaithe scheme, which was launched in 2022 to bridge the gap between how much it costs developers to build an apartment and the price owner-occupiers can afford to pay for apartments.said on an analysts’ call on Wednesday, following the release of the company’s interim financial results, the Croí Cónaithe scheme had been “incredibly impactful”. Martin ‘The Viper’ Foley tells judge he would be homeless if Cab seizes Kimmage house“It is working because it moves people from homes that they rent, apartments that they rent, often costing €2,000 to €2,500 per month ...
We’re delivering apartments people can own for as little as €800 to €900 a month mortgage. ”received €30,000 through Help to Buy, took out a €270,000 mortgage and used the First Home Scheme to fund the remaining €67,500, equivalent to an 18 per cent equity stake. A company analysis said that with the support of Croí Cónaithe alone, a household would need an income of €84,375 to buy a two-bed unit in Seven Mills.
The income requirement falls to €67,500 if they received First Home Scheme support. The latest Daft rental report showed the average rent for a two-bed apartment in Dublin is close to €2,600 per month. Stanley said the company had received a lot of interest from renters, with more than 4,000 inquiries to buy apartments in the Seven Mills development.
The company has availed of a subsidy of close to €90,000 on each Seven Mills apartment delivered through the Croí Cónaithe scheme. Apartments partly funded through the scheme must be sold by developers on the open market to buyers who intend to be owner-occupiers. , with support from the same scheme. The average selling price of two-bed apartments in this scheme are priced close to €400,000, which would equate to a mortgage level of about €1,600.
Based on the subsidies applied to apartments in Dublin, Cairn’s total cost to build these apartments without a subsidy would be between €330,000 and €400,000. Mortgages on apartments at these price points would also be below average rents. The Croí Cónaithe scheme, launched with a budget of €450 million, aimed to activate the delivery of 5,000 apartments for sale to owner-occupiers by 2026, which would equate to an average subsidy of €90,000 required for each apartment.
McKillen family-owned Atlas Autoservice adds four more depots to property portfolioPatrick Bergin, co-star of Julia Roberts in Sleeping with the Enemy, seeks buyer for Offaly castleLoneliness: There’s a reason why we use the term ‘power of connection’Carla Ward keeping her eye on WSL merry-go-round as Irish players switch clubs
Michael-Stanley Apartment Dublin Housing-Crisis Renting Mortgage Mortgages First-Time-Buyer Help-To-Buy First-Home-Scheme James-Browne Eoin-O-Broin Sinn-Fein
Ireland Latest News, Ireland Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
South Dublin Level Crossings Closure Targeted by Irish Rail Amid Public DebateIrish Rail is working toward the closure of five level crossings in south Dublin, a legacy of the historic William Dargan rail extension from Dún Laoghaire to Dalkey. The crossings have sparked public discussion after the Rail Users Ireland group claimed they prioritise cars over trains, a view contested by readers pointing out that trains do not wait for vehicles. The news roundup also covers EV charging price increases, a GP and elderly mother awarded €12,000 over a clinic receptionist's conduct, Holly Cairns repaying €8,500 in mistakenly paid Oireachtas expenses, and rising energy prices driving an ECB rate increase alongside the sale of a €4.5m retreat by nuns.
Read more »
Derek Murray and Paul Casey step down as joint-managers of DublinThe pair have been in charge since December 2024.
Read more »
Dublin LGFA seeking new manager as Casey and Murray step down after two seasonsDublin's joint managers Paul Casey and Derek Murray have informed the county board they will not be seeking a third year in charge of the women's senior football team. The duo, who took over from Mick Bohan in December 2024, led Dublin to All-Ireland glory in 2025 with a final win over Meath at Croke Park, and also secured Leinster provincial honours in 2025 and 2026. Their reign as All-Ireland champions ended at the 2026 semi-final stage following a defeat by Kerry. Dublin LGFA has thanked both men, along with their families and backroom staff, for their service ahead of the 2027 campaign.
Read more »
Woman denies damaging repossessed Dublin property after allegedly cutting through steel door with angle grinderPauline O'Callaghan appeared before the High Court where she denied causing damage to her repossessed Castleknock property or hiring agents to break in. Pepper Finance, through receiver James Anderson of Deloitte, obtained a temporary injunction restraining further trespass. The case involves two properties originally mortgaged with Bank of Scotland in 2008, later transferred to Pepper, and repossessed following loan defaults.
Read more »