Scheme will see buyers in Cork get affordable houses 20% cheaper than market price

The county council’s new guidelines will allow eligible people to apply for Affordable Housing units within their own municipal district area, or up to a 10km radius outside it.

The council has set the ceiling for eligibility for the scheme at three-and-a-half times the gross wages of a couple per year, but this cannot exceed 85.5% of the market value of the house.

Affordable houses planned by Cork County Council will be generally 20% cheaper than the market price, according to new guidelines drawn up by the local authority.

The Affordable Housing Scheme is aimed at people who have higher incomes than would qualify them for Social Housing, but not enough earning power to get them a mortgage from a financial institution.