Address: Brú na Sionna, Shannon Town Centre, Co Clare.

Agent: Sherry FitzGerald McMahon.

Property type: two-bed Section 23 apartment for €232,000.

What do you get? Around 61sq m (654sq ft) with a fitted kitchen with integrated appliances, tiling in the kitchen and on the bathrooms and en suites, shower doors fitted in en suites, gas central heating, built-in wardrobes in bedrooms, and en suite main bedrooms.

When complete, the development - built by Paddy Burke - will comprise 119 two and three-bed apartments and three-bed townhouses. Laid out in five blocks, it ranges in height from two to six storeys. Each block differs in style and shape with some having gardens around them and others balconies.

Each unit comes with a designated car-parking place. The scheme has pedestrian access to the Shannon Leisure Centre, which includes a 25-metre indoor swimming pool and gym, and Skycourt shopping centre which has Dunnes, Tesco, Lidl, and 80 other retail units. A further 9,290sq m (100,000sq ft) of retail/leisure is proposed, including a six-screen multiplex, fitness centre and 120-bed hotel.

Where? The development is located between the new town park and preserved woodland amenity.

How much for an investor to buy? The repayments on an 85 per mortgate at a tracker variable @ 3.35 per cent over 20 years is €1,128.54 per month

How much to buy? On a 100 per cent mortgage the repayment on a tracker variable over 20 years is 3.25per cent is €1,315.89

Stamp duty: €9,280 for an investor.

Potential: local investors attracted by the section 23 tax designation have purchased half of the development . The rental market appears to be strong in the area, with rents of €600-€700 per month for a two bed apartment.

Ryanair recently launched a series of new routes to Europe from Shannon Airport which has been a boost to the ailing airport and the new Westpark development with 92,903sq m (1,000,000sq ft) of industrial space is under construction with a projected 3,000 jobs.

Verdict: An up-and-coming town, it has become a more attractive place to live. The tax designation means these apartments are priced higher than those in other nearby developments where you can buy a two-bed for around €160,000-€180,000.

Calculations by Ulster Bank