Inspiration for Buyers
In May 2022, the government announced the establishment of the Croí Cónaithe (Cities) Scheme to support the building of apartments for sale to owner-occupiers.
What is the Croí Cónaithe Scheme?
- The Croí Cónaithe scheme aims to bridge the viability gap between the cost of building apartments and market sale price.
- The Croí Cónaithe scheme will be managed by The Housing Agency with €450m available to support 5,000 apartments over the coming years.
- These apartments will be for sale to all owner-occupiers; qualifying buyers can avail of Help-to-buy and First Home Shared Equity (which is due to launch soon).
- The areas include Dublin, Cork, Galway, Limerick and Waterford city areas.
For the full announcement and further information, please visit https://www.housingagency.ie/CroiConaitheCities.
Please also refer to some indicative illustrations below.
We will be working with our clients and other stakeholders to engage on this initiative and will hopefully have some specific updates and locations to discuss later in the year.
Illustration 1: Viability Gap for New Aprtament Delivery
Source: The Housing Agency
Illustration 2: Indicative Schedule of Anticipated CCC Subsidies in an Agreement
Source: The Housing Agency
