Minister Browne launches new call to promote apartment building in our cities
- Foilsithe: 11 Meitheamh 2025
- An t-eolas is déanaí: 11 Meitheamh 2025
Over 1,000 owner-occupier apartments already signed for delivery
High demand for completed apartments a huge “vote of confidence” for the scheme
Latest call makes it more feasible for smaller builders to apply
The Minister for Housing, Local Government and Heritage, James Browne TD, has today announced the launch of the next call for expressions of interest under the Croí Cónaithe Cities Scheme.
The Croí Cónaithe Cities Scheme is a fund to support the building of apartments for sale to owner-occupiers. It aims to bridge the current viability gap between the cost of building apartments and the market sale price in five cities, Dublin, Cork, Limerick, Galway and Waterford.
Minister Browne made the announcement at The Woodward Court apartment development in Leopardstown, Dublin 18. These are the first apartments supported by the scheme offered for sale in Dublin.
Already, contracts have been signed to deliver 1,083 apartments with applications submitted for a potential further 1,600. These apartments would not have been built without the subvention under the Croi Conaithe Cities Scheme.
Minister Browne said:
“Right now, there are thousands of planning permissions for apartments in cities that have not been activated due to a viability gap between the cost of delivering an apartment and the market value for them.
“This targeted measure which supports the supply of apartments that otherwise would not have been built giving people the opportunity to buy a home in one our vibrant cities. This Government wants to increase the supply of urban, owner-occupier apartments and provide those who aspire to become homeowners with a greater choice.
“Encouragingly, there has already been a high demand from homebuyers for the apartments, with units at this development and another in Cork selling quickly. This is a huge vote of confidence for the scheme.”
Significantly, recent changes now make it more feasible for smaller developers to apply for the scheme, with the minimum eligibility threshold for units reduced from 40 to 20.
Commenting on this, Minister Browne said:
“I am particularly pleased to announce that under this latest call for expressions of interest, it will be more feasible for smaller-scale builders and developers to avail of the scheme. So, I’m encouraging construction firms of all sizes to apply to the scheme and contribute to providing quality homes in our urban centres.”
Martin Whelan, Chief Executive of The Housing Agency, said:
“The Croí Cónaithe (Cities) Scheme is working effectively and gaining strong momentum in delivering much-needed new homes for first-time buyers and other owner-occupiers. It is adding to housing supply by funding a range of apartment developments that might not otherwise be built.”
“By bridging the viability gap, the Scheme is providing opportunities for individuals and families to buy a home in the city they want to live in, close to where they work and close to the amenities they need. The Scheme is good for owner-occupiers and good for the cities they want to live in.”
“Many of Ireland’s most prominent housebuilding firms are already using the flexibility the Scheme offers to add significantly to their housing output and we want more developers to join them this year.”
ENDS
Notes
The Croí Cónaithe Cities Scheme is managed and administered by The Housing Agency on behalf of the Department of Housing, Local Government and Heritage.
The scheme supports the building of apartments for sale to owner occupiers in five cities – Dublin, Cork, Limerick, Galway and Waterford.
The development of apartments is expensive, particularly in urban areas. Apartments have larger structural elements, such as lifts or underground car parking, which make construction more expensive than for houses. Also, apartments can only be sold or rented once the entire complex is finished, unlike in housing estates which can be built and sold in phases. These factors make it difficult to build apartments at a cost below the market sale price and result in a viability gap.