Developers get ready for a busy season
Many new homes schemes expected to launch shortly while more are in planning stages
With this week’s proposal from Fine Gael to cut the amount of VAT on new homes and to introduce a “Help to Buy” to ease the way for first-time buyers, several leading developers are getting ready for a busy season.
Many of them are already finishing off schemes which have been closed since 2008, while others are quietly buying up development sites with the intention of building out in the short term.
Look out for Joe O’Reilly’s Castlethorn scheme in Stepaside where the next phase of three, four and five-bedroom houses are due to be launched in about 10 days. The plan is to launch a “show village” with the first of the 50 planned houses for sale at between €395,000 and €490,000.
Edler Heath is expected to attract first-time buyers or those looking to trade up from apartments, looking for gardens and more space.
The three-bedroom houses measure 1,163 sq ft (108 sq m) and are priced at €270,000. Four-beds with 1,270 sq ft (117 sq m) are priced at €315,000. DNG says 20 homes will be released this weekend, 70 have been sold – 50 of which are occupied and 20 to close.
The new surge in housebuilding will not be entirely dependent on traditional builders as Nama is rapidly appointing asset managers to handle the building of a range of new homes in the Dublin suburbs to help ease the housing shortage.