Cork County Council is pleased to welcome a new Affordable Housing Purchase Scheme with applications for new two-bed townhouses and three-bed houses at Cluain Ard, Cobh opening on Monday October 2nd 2023 at 12 noon.
Constructed by Sirio Homes, the houses will generally be available for first-time buyers who do not own a home, although a small number of exceptions apply together with Fresh Start Applicants.
Set on “The Great Island”, the A-rated development offers high-quality family homes ideally located close to Cork Harbour, the sea and within walking distance of Cobh town.
The 21, two-bedroom townhouses will be available from €215,000, representing a reduction of approximately 26% from market value while 28, three-bedroom houses will be available from €245,000, a reduction of approximately 23% from market value.
Welcoming the new affordable homes, Mayor of the County of Cork, Cllr. Frank O’Flynn said, “Cork County Council is delighted to announce the launch of this affordable housing scheme in Cobh. The scheme offers high-quality, affordable homes in a town which is steeped in history, brimming with activities, and picture-perfect from every angle. The houses are priced well below market value and this launch will be welcome news to prospective buyers in the area.”
Through this scheme, purchasers will enter into an affordable dwelling purchase arrangement with Cork County Council. Under this arrangement, the Council will retain a percentage equity share in the dwelling, equal to the difference between the market value of the dwelling and the price paid by the purchaser, expressed as a percentage of the market value of the dwelling (minimum of 5%).
Chief Executive of Cork County Council, Tim Lucey added, “These 49 homes are in addition to 30 properties in Mallow and 32 in Carrigaline made available by Cork County Council under the Affordable Housing Purchase Scheme to date this year. There are also a number of affordable schemes that will come online over the coming months in towns across the county where the greatest need has been identified. This scheme provides another avenue for Council to help deliver on our ambitious plans as set out under the Government’s National Housing Plan, Housing for All.”
Applications and further information for the scheme will be accepted between 12 noon October 2nd 2023 and 12 noon October 23rd 2023 via the link below.