New discounted homes for first time buyers available in County Limerick town under purchase scheme

LIMERICK City and County Council has announced the launch of its eighth initiative under the New Build Incremental Purchase Scheme, offering existing working Local Authority tenants, AHB tenants and households on HAP and RAS, the chance to purchase discounted homes in Treada Na Rí, Kilfinane.

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. In particular, the scheme offers the opportunity to buy where a household has received a Notice to Quit. Eligible applicants can buy these newly constructed starter homes at a 40 - 60% discount, based on certain income bands.

Homes on offer:

Five 3-bedroom homes priced between €124,400 and €187,620 depending on income and house type.

Energy-efficient homes with modern features and spacious designs, ready for occupation.

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All homes have BER A Rating.

The application process is open now until April 9 at 5pm. Eligible candidates must submit a complete application, including Mortgage Approval in Principle, to be considered. For eligibility criteria and details see here.

Mayor of Limerick, John Moran, emphasised the importance of such schemes in addressing housing pressure:

“While this New Build Incremental Purchase Scheme is a modest offering of five homes, it is a gamechanger for the five families and individuals who will be put in a position to be able to own their own home. It offers hope and stability for some who are otherwise facing significant uncertainty in the private rental market. I am pleased to see continued progress in creating a pathway to home ownership in Limerick that has previously been out of reach for some people.”

Príomh Chomhairleoir, Cllr Catherine Slattery commented:

“I’m delighted to see these five new homes becoming available in Kilfinane, the highest town in Limerick. By providing discounted paths to homeownership, we are ensuring that this community remains strong, giving young people the opportunity to build their futures at the foot of the Ballyhouras.”

Vincent Murray, Director of Housing, said:

“Incremental Purchase Schemes are a gamechanger for many working families who may otherwise be locked out of the traditional housing market. Delivering these homes in Kilfinane to the highest energy efficiency standards, also ensures the new homeowners aren’t burdened by high heating costs into the future.”