New Homes: Yet another 'borderline'  issue 

The  Croí Cónaithe (Cities) Scheme, the viability-gap support for new apartments, only applies to five cities, Cork, Dublin, Galway,  Limerick, and Waterford

The Croí Cónaithe supports apply to Cork, Dublin, Galway,  Limerick, and Waterford, encouraging new building in these five cities. 

Where you want to live determines where you might be able to afford a home, and not just for the age-old property clichés of Location, Location, Location, but down to where you stand on 'the Border issue.'

Buying a new home or apartment in Cork can be made easier, or more complicated, down to a variety of metrics: thanks to the Government’s First Home scheme, qualifying first-time buyers (FTB’s) can get support on new homes worth up to €500,000 in Cork city, but if you buy just over Cork’s city/county boundary in any direction, there’s a current ceiling of €450,000 on eligible purchases, notes Suzanne Tyrell Director of Cohalan Downing of this pretty serious 'chunk of change' €50k differential.

Given how proximate some city and county setting can be either side of a boundary divide (think Ballincollig?), and given  ongoing rises in the cost of construction and the scarcity of 'standard' three-bed homes, builders and other lobbyists have argued for an evening up of that increasingly vital support so that city and country have the same €500k threshold.

"The ceiling limits are particularly relevant in Cork,” says Ms Tyrrell explaining “this creates a very obvious distinction in the market. Where a development sits comfortably within the relevant support thresholds, there is usually a large pool of potential buyers. Once prices move beyond those thresholds, the pool does not disappear, but it becomes much smaller because purchasers have to rely more heavily on their own deposit and mortgage capacity.” 

 She adds “that distinction is becoming more significant as prices continue to rise. For the 12 months to September 2026 the average asking price in Cork County at €417,900, up 5.2% on the previous period. In Cork City the average asking price was €429,400, up 6.9%.

Also dividing city and county viability issues is the increasing importance of the  Croí Cónaithe (Cities) Scheme, the Government's viability-gap support for new apartments for sale to owner-occupiers which can be worth €70,000 to well over €100,000 in supports paid to developers to encourage construction.

But, as of the latter half of 2026. Croí Cónaithe only applies to five cities, Cork, Dublin, Galway,  Limerick, and Waterford: left out are many, such as Carrigaline, Ballincollig, Cobh, Midleton, Mallow, Bandon in Cork alone, with comparable and even larger other Irish towns also currently excluded from this package.

In the run up to Budget 2027, due October 13, there have been calls for a wider geographical base for future Croí Cónaithe City supports in large town/urban but non-city settings.

To date, some 2,600 city apartments have been funded in this way, with current capacity via the Housing Agency put at 5,000.

Is enabling further apartment delivery in large towns something the Government and the Housing Agency which administers it may consider in the Budget? The winds of change may be in its favour… The apartment delivery aid “is now being used to support owner-occupier apartments in Cork and other cities with very positive sales results.  I understand Croí Cónaithe  will be extended to the county also which is a welcome progression,” Cohalan Downing Suzanne Tyrrell predicts, adding “other Government measures aimed at making apartment construction more viable, including changes to VAT and apartment design standards.” 

 Picking up on the city/county dichotomy or divide under the First Home Scheme is Midleton-based business development specialist Niamh Hegarty of Hegarty Properties, now selling across east Cork and into the city itself.

“The scheme itself is excellent, and the change in appetite for it over the past year has been dramatic. Twelve months ago buyers were reluctant — there was a perception that the Government ‘owned a share of your house.’ That hesitation has largely evaporated: this year we would estimate around 60% of our buyers are using the First Home Scheme. The national picture backs that up, with the scheme passing 11,000 approvals by mid-2026 and Cork among its biggest markets at roughly 17% of all approvals.

“But there is a structural problem as the First Home Scheme is capped at €450,000 in Cork County, versus €500,000 in Cork City. In practice, a three-bed semi-detached — the single most in-demand family house type — cannot be bought new for under €450,000 in towns like Midleton or Carrigtwohill. So, the core product is out of reach for the very buyers the scheme is designed to help,” Ms Hegarty highlights.

For those caught in the price pinch point, “their options are stark: compromise on the home — a three-bed end-terrace instead of a semi, a terraced house, or even a two-bed that does not suit their needs — or hold off and keep saving. And holding off is getting harder. We are increasingly meeting buyers who have just been served notice by a landlord and suddenly have to buy now, when it was a ‘down the line’ plan only weeks earlier. Our strong view is that the Cork County cap should be brought into line with Cork City at €500,000; a survey of new-build prices across the county would show just how difficult it is to find a three-bed semi under €450,000,” Ms Hegarty challenges.

Today’s home hunters would fully concur.