95 cut-price homes put on the market

/ 13th March 2023 /

A raft of cut-price homes are about to be released onto the rental market – at hundreds of euro below the market rent in the same area.

The 95 cost-rental homes start at €1,350 a month for a three-bed, two-storey terraced house.

However, average monthly rent for a comparable home listed in the same area on Daft.ie rent is more than €800 higher, at €2,154 a month.

The homes, part of Project Tosaigh from the Land Development Agency (LDA), in Citywest, Dublin 24, are three and four-bed family units in Parklands on Fortunestown Lane. They will be released in phases over the next 16 months starting with the first 22 units.

The LDA report says: "These rents are typically about 57% below market rents." This is the first time houses have been made available in Dublin.

LDA chief John Coleman said: "This is a positive development and we will be making a series of similar delivery announcements in the coming weeks and months."

Housing Minister Darragh O’Brien said: "Project Tosaigh is just one of a number of initiatives the Government has introduced to speed up the delivery of affordable housing. It is great to see an increasing number of new and energy efficient homes being offered at reduced rents to families and individuals. This is a direct result of government intervention and is being made possible by an increased investment in housing.’

The rents involved are considerably below market rents, the LDA says. Eligible tenants must have a net household income of less than €53,000 a year, an amount aimed at families on low to moderate incomes who do not qualify for social housing.

cut-price homes
market — The homes, part of Project Tosaigh from the Land Development Agency (LDA), in Citywest, Dublin 24, are three and four-bed family units in Parklands on Fortunestown Lane.

While the remainder of the Citywest houses will be released in subsequent phases, applicants are advised to apply now as their application will also apply to future releases of this particular scheme.

All applications go through the LDA’s lottery system and applications open today at noon. The LDA has already released phase one of its 142 cost rental homes in Archers Wood in Delgany, Co. Wicklow, and tenants are already moving into 24 duplex units.