First-time buyers in Limerick urged to apply for discounted three-bedroom homes
Eligible applicants could get 40% to 60% discount
DISCOUNTED market homes for first-time buyers in Limerick are being rolled out as the fifth phase of a council scheme.
Limerick City and County Council have launched its fifth initiative under the New Build Incremental Purchase Scheme, offering some first-time buyers three-bedroom units this time in Clonmacken in the city, between Coonagh and Caherdavin.
Those able to apply for the scheme include existing working local authority and Approved Housing Body (AHB) tenants and households on Housing Assistance Payment (HAP) and Rental Accommodation Scheme (RAS) the chance to purchase newly constructed starter homes at a 40% to 60% discount, based on certain income bands.
This scheme aims to support working families and individuals in transitioning from private rental accommodation, including those availing of HAP, RAS, or social leasing, into homeownership.
Brian Kennedy, director of housing at Limerick Council, said: “This is the fifth Incremental Purchase Scheme Limerick City and County Council has introduced.
“The Council is committed to providing existing working local authority and AHB tenants and working HAP and RAS households with real opportunities to own high-quality, discounted market homes.
“We are excited to see this project come to life in Clonmacken.”
In particular, the scheme offers an opportunity to buy where a household has received a Notice to Quit.
There are seven energy-efficient units on offer, consisting of three-bedroom homes priced between €99,402 and €149,103, depending on income.
The new Clonmacken homes are described as being “spacious” with “modern features”. Eligible applicants must apply before 5pm on April 22 and must submit a complete application, including Mortgage Approval in Principle, to be considered.
Mayor of Limerick, John Moran, emphasised the importance of such schemes in addressing housing pressure: “Initiatives like the New Build Incremental Purchase Scheme are strengthening our ongoing efforts to address the housing crisis in Limerick.
“By providing affordable, high-quality homes, we are supporting working families and individuals. This scheme offers a realistic pathway to homeownership, ensuring that more people can have a place to call their own in one of our focus neighbourhoods, Clonmacken.”