Existing working Local Authority tenants, AHB tenants and households on HAP and RAS, are being afforded the opportunity to purchase discounted homes in Treada Na Rí, Kilfinane, County Limerick.
Announcing the launch of its eighth initiative under the New Build Incremental Purchase Scheme, the Limerick City and County Council 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. Five 3-bedroom homes are on offer, priced between €124,400 and €187,620 depending on income and house type. These energy-efficient homes have modern features and spacious designs, ready for occupation, and all homes have BER A rating.
‘GAMECHANGER’
“I’m delighted to see these five new homes becoming available in Kilfinane, the highest town in Limerick,” Príomh Chomhairleoir, Cllr Catherine Slattery said. “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.”
While 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.”
Mayor of Limerick, John Moran, emphasised the importance of such schemes in addressing housing pressure, saying 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”.
The application process opened on 19th March and will close on 9th April at 5pm. Eligible candidates must submit a complete application, including Mortgage Approval in Principle, to be considered. For more information, visit Limerick.ie for eligibility criteria and details on how to apply.
