Docklands buyers queue overnight

NEW OWNERS of affordable homes in Dublin’s Docklands emerged smiling but bleary-eyed from the Docklands authority building over the weekend.

Over 80 interested buyers queued, some over two nights, for their chance to buy one of 68 apartments which were being sold on a first-come, first-served basis. There were 37 apartments sold over the weekend totalling some €9 million in sales. A further 15 apartments had reserves placed on them while 10 people with incomplete documentation are to come back. Locals were given first choice on Saturday with the sale opened to people from anywhere yesterday.

Uniquely, 43 of these affordable apartments were being sold under the same conditions as any property sold on the open market. This means that buyers can later sell the property without any penalty.

Usually buyers of affordable properties have to pay a “claw-back” to the authority of the percentage of discount they received, if they sell within 20 years.

“I am one of the lucky ones,” said local woman Lyndsay Roche, who bought the two-bedroom apartment she had wanted. The price is good considering the area, location and market value. It was worth the wait,” said Ms Roche, who had queued overnight and had been on the affordable homes list for a year.

Jessie Collins was seventh in the queue, but missed out on the apartment she wanted. She put a refundable deposit on a two-bedroom apartment costing €225,000 but valued at €295,000. “It’s okay but I wouldn’t pay more for it,” said Ms Collins, whose boyfriend began queuing for her at 4.30pm on Friday. She said there were only a “handful of decent apartments to choose from” as many were on the ground floor, did not have great views or just had one bedroom.

“We don’t just want the crumbs from the table with all the options out there,” said Ms Collins, who was on the affordable homes list for four years.

One new purchaser of a three-bedroom apartment described the prices as “more realistic, not a rip-off,” but still not really “affordable”.

Dublin Docklands Development Authority chief executive Paul Maloney said: “We are delighted. People are attracted by the prices and the amazing location which will not be repeated for another few years.”