Price cuts of 43 % aimed at those who are ready to buy, not rent

NEWCASTLE: FROM €150,000:Newcastle Lyons, Newcastle, Co Dublin Apartments, duplexes and houses from €150,000 in fast-growing village

Agent: Douglas Newman Good

PRICES of apartments and townhouses in a scheme near the Lyons Estate in Newcastle, Co Dublin have been cut by over 40 per cent to tempt couples and individuals who want to own, rather than rent their home.

Newcastle Lyons is an enclave of one, two and three-bedroom apartments, duplexes and houses, in the village of Newcastle, less than a mile from the N7 at Rathcoole.

The village is growing in size and popularity with an estimated 1,000 residents, many of whom commute the 20km to Dublin city centre, or to jobs in nearby City West.

Newcastle Lyons is one of a number of small developments that have sprung up in the village, and some of its features will have extra appeal to young buyers. All houses and duplexes and apartments on upper floors incorporate solar powered hot water systems, and overall, the units have e an energy rating of a B3 or higher, leading to reduced running costs.

Prices are substantially down on where last year, with one-bedroom apartments now among the cheapest in the city – €150,000 - down from €265,000. Two-bedroom units that had been €295,000 now start at €185,000 while two-bedroom houses with over 93sq m (1,000sq ft) of living space have dropped in price from €345,000 to €250,000.

Three-bedroom duplexes are down from €370,000 to €265,000 whilelarger three-bedroom houses are now €295,000, having started at €385,000. The scheme is for sale through Douglas Newman Good which will have show units open this Saturday and Sunday.

Plans for the development inlude a crèche, several shops and a pub, off license and restaurant. Competition is keen for the first time-buyer market and these houses have been fitted with many extras, such as heated towel rails and shower screens in the bathrooms, recessed lighting throughout and gas central heating via slim line radiators. Buyers get a choice of colours and finishes in the custom-designed kitchens. There’s a generous electrical spec and all houses are fitted with cabling for home cinema, broadband and PC networking.