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Cork County Council announces the launch of a new Affordable Housing Purchase Scheme, providing prospective homeowners with the opportunity to acquire two-bedroom townhouses and three-bedroom houses in the scenic town of Cobh. The application process for these affordable homes will commence on Monday, October 2nd, 2023, at 12 noon.
Constructed by Sirio Homes, this housing development, known as Cluain Ard, is primarily aimed at first-time buyers who do not currently own a home. However, exceptions will be considered, including Fresh Start Applicants.
Situated on “The Great Island,” this A-rated development offers high-quality family residences conveniently located near Cork Harbour, the sea, and within walking distance of Cobh town.
The development comprises 21 two-bedroom townhouses, priced at €215,000 each, representing a significant reduction of approximately 26% from the market value. Additionally, there are 28 three-bedroom houses available for €245,000 each, which marks a reduction of approximately 23% from their market value.
Mayor of the County of Cork, Cllr. Frank O’Flynn, expressed his enthusiasm for this initiative, stating:
“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.”
Under this scheme, purchasers will enter into an affordable dwelling purchase arrangement with Cork County Council. This arrangement involves the Council retaining a percentage equity share in the dwelling, equal to the difference between the market value of the dwelling and the purchase price, expressed as a percentage of the market value of the dwelling (with a minimum of 5%).
Chief Executive of Cork County Council, Tim Lucey, highlighted the Council’s commitment to affordable housing, stating:
“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 for this scheme will be accepted from 12 noon on October 2nd, 2023, until 12 noon on October 23rd, 2023, via the online application portal on the Council’s official website, www.corkcoco.ie.
For further information on this scheme, as well as details on other upcoming affordable housing initiatives, including the Scheme of Priority, application guidelines, and required documentation, please visit the Council’s website.
Prospective homeowners in Cobh and the wider community now have an excellent opportunity to secure affordable and high-quality housing through this exciting new scheme brought by Cork County Council.