Affordable Housing Scheme
Affordable Housing at Grey Abbey, Kildare Town
Kildare County Council is delighted to launch an ‘Affordable Housing Scheme’ at Grey Abbey, Kildare Town.
A total of 21 affordable homes, consisting of 21 nr. 3 Bedroom are being made available for sale by Kildare County Council at the above referenced residential development under affordable dwelling purchase arrangements via the Affordable Housing Act 2021 and associated Affordable Housing Regulations.
The houses are available for purchase by first time buyers who do not own or have a legal interest in a dwelling, with some exceptions applicable.
- The 3 Bedroom Mid Terrace homes are being made available for purchase from €285,000
- The 3 Bedroom End Terrace homes are being made available for purchase from €295,000
- The 3 Bedroom Semi Detached homes are being made available for purchase from €300,000
All purchasers will sign up to an ‘Affordable Dwelling Purchase Arrangement’ with Kildare County Council.
Kildare County Council will retain an ‘Equity Share’ in the property, equal to:
‘The difference between the open market value of the dwelling and the purchase price paid by successful applicants, expressed as a percentage of the open market value of the dwelling’.
Kildare County Council may not seek realisation of this Equity Share for a 40-year period (with exception where a breach of the agreement occurs).
However, successful affordable purchasers can choose to redeem or purchase the Equity Share in the dwelling at any time by means of one or a series of payments to Kildare County Council.
To be eligible to apply for the scheme, applicants must satisfy the following criteria:
1. Be a First-Time Buyer or meet the exceptions under the Fresh Start Principle.
2. Income Limits
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House Type Income Limit (€) Min. Purchase Price (€) 3 Bedroom End / Mid Terrace 2 Storey €76,950 €285,000 3 Bedroom End / End Terrace 2 Storey €79,088 €295,000 3 Bedroom Semi Detached 2 Storey €80,157 €300,000 |
3. Each person included in the application must have the right to reside indefinitely in the State.
4. The affordable home must be the household's normal place of residence.
5. Applicant’s purchasing power must not exceed 95% of the market value of the property.
It is recommended applicants have Mortgage Approval in Principle prior to applying for this scheme. This is to expedite the sale of units which are under construction and available for occupation in Quarter 3 of 2023.
Where the number of eligible applicants exceeds the number of affordable dwellings for which applications are made, applications will be prioritised in accordance with Kildare County Council Scheme of Priority which can be viewed at https://kildarecoco.ie/AllServices/Housing/AffordableHousing/
If the number of applicants exceeds the number of affordable dwellings for sale, the following will apply:
In respect of 70% of the dwellings, date and time of application, will be a ranking mechanism on which eligible applications will be prioritised under the Kildare County Council Scheme of Priority.
In respect of the balance of 30% of the dwellings, priority to be given to eligible applicants based on any person making the application being or having been resident in the current administrative area of Kildare County Council for a minimum period of 5 years preceding the time of application.
- Applications will be accepted via an online application portal which will go live on Wednesday, 24 May 2023 at 12:00 noon.
- Applications may be made between Wednesday, 24 May 2023 at 12:00 noon and Saturday, 24 June 2023 at midnight.
Further information on this scheme, including the Scheme of Priority, link to the application form, and support documentation required, is available at https://kildarecoco.ie/AllServices/Housing/AffordableHousing/
