Dublin City Council

Dublin City Council

20 Jul 2010

Dublin City Council begins rent-to-buy scheme
Tuesday, 20 July 2010 07:31

Dubin City Council will today be putting 91 rent-to-buy properties on the market in Rialto,
Finglas and Glasnevin. It has already sold-off most of its backlog of affordable housing
caused by the slump in the private market.

According to the Council the main advantage of the rent-to-buy scheme is that home buyers
can put 80% of rent they pay over three years towards the purchase price,
and then get all the furnishings as part of the deal.

Prices will be around 10% cheaper than market prices and rents too will be 20% less.
So affordable housing buyers will face a financial clawback if they sell within a number of years.
A first time buyer earning under €55,000 a year would qualify for affordable housing.

Story from RTÉ News:
http://www.rte.ie/news/2010/0720/house.html