After all the hype surrounding the financial packages offered on apartments by developers Ray Grehan and Bernard McNamara last week, new home agents everywhere are waiting to see if the incentives actually worked.
Glenkerrin Homes, controlled by Grehan, is offering buyers a 15 per cent interest-free loan, so that they only have to come up with a 5 per cent deposit on any of his properties from The Grange in Stillorgan to St Edmunds in Lucan.
Meanwhile Bernard McNamara's Radora is offering a zero deposit and 20-30 per cent interest-free loan to buyers of its swish apartments at Elm Park in Dublin 4.
Early reports are good, if not spectacular.
According to Savills HOK, which is handling sales for Ray Grehan, the scheme has attracted 15 potential buyers so far and they expect to do deals in the coming week.
Over at Elm Park, selling agent Hooke MacDonald are more bullish. Yesterday it said it had sold no less than 43 of the apartments at prices from €470,000 to €550,000 and mostly to owner-occupiers rather than investors.
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