Affordable co-op house put on private market with 50% price rise

Homeowners selling within 10 years are expected to pay a clawback fee to the co-op related to the discount on the purchase price.

The three-bedroom house now on the market would be the first to be sold on privately since the estate was built. In the case of this house, it is understood the clawback would be in the region of €44,000, which Ó Cualann would use to repayThe council sold the land to the co-op for €1,000 per house plot. On the open market the same plots would have cost up to €30,000. The council also waived the development levies of €86.40 per square metre.

“It is one of the drawbacks of the scheme. Our preferred method would have been for houses to be sold directly back to the co-op, then we could sell them on to other eligible affordable housing purchasers.”The seller of the house was not available for comment.

DCCouncil should buy

This property has now hit is guide price after its first viewing this evening and a deadline for offers of 25th August is now in place - monitor the bidding here:

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Affordable house offered for sale on private marketÓ Cualann co-op house sold at discount for €170,000 now on market for €250,000 All offers available on our website if anyone wants to follow proceedings Who was it that allowe this to happen? Simon Coveney or Eoghan Murphy? You are forgetting there is a 40,000 euro clawback,
Source: IrishTimes - 🏆 3. / 98 Read more »