Cork City Council to fast-track affordable homes at €80K below market value
Cork City Council's assistant chief executive Brian Geaney said there was a critical need to deliver affordable homes for eligible applicants, a need which will only increase as the city’s population grows.
A €40m bridging loan has been approved by Cork’s city councillors to fast-track the delivery of hundreds of affordable homes.
The finance could help reduce the net sale price of a €300,000 home by about €80,000 for house buyers in the “squeezed middle” – those who earn too much to qualify for social housing but who don’t earn enough to secure a mortgage.
