Applications to open for 40 new affordable purchase apartments in Shanganagh Castle Estate

Applications to open for 40 new affordable purchase apartments in Shanganagh Castle Estate

• Applications will open from Wednesday 23 July
• Prices to start from €263,500

Dún Laoghaire–Rathdown County Council (DLR) and The Land Development Agency (LDA)  have announced that applications will open for 40 affordable purchase apartments in Shanganagh Castle Estate, Shankill later this month. The homes, which include 10 one-bed apartments and 30 two-bed apartments ranging in size from 50 to 84 square metres, were directly delivered by the LDA in partnership with DLR at the award-winning Shanganagh Castle Estate. The scheme, which is being run by DLR, involves buyers availing of a shared equity arrangement, which effectively lowers the upfront cost and enables DLR to hold an equity interest in the property until it is repaid or the house is sold. Purchasers can also avail of the Help to Buy scheme. With the help of Government supports and equity contributions, prices for the new apartments start from as low as €263,500 for the one-beds and €348,750 for the two-beds.

Frank Curran, Chief Executive, Dún Laoghaire-Rathdown County Council said: “We are delighted to have affordable purchase apartments as part of the housing mix in Shanganagh Castle Estate. Owners will enjoy living in a well-served and desirable location next to the sea, beside Shanganagh Park and close to both the Dublin and Wicklow Mountains. There are a host of amenities, facilities and public transport options nearby and both Shankill and Bray are within easy reach.”

An online application portal for the homes will open at 12pm on Wednesday 23 July and remain open until 5pm on Wednesday 13 August 2025.  Under the terms of the Local Authority Affordable Purchase Scheme, the upfront cost is reduced for the buyer while DLR retain an equity share in the property. Homeowners have the option of buying out this share over time.  Equity shares are calculated on an individual basis and are linked to an applicant’s income, their savings and their mortgage capacity.

All of the apartments at Shanganagh Castle Estate are built to Passive House standard, which means the homes are better insulated and designed to be more energy efficient. This also means they have low running costs. The LDA and DLR  launched the sales process for 51 affordable purchase houses in Shanganagh Castle Estate in October 2024, with all homes now offered to successful applicants.

John Coleman, CEO of the LDA said: “This is a great opportunity for eligible would-be homeowners to buy their own apartment at a price they can afford thanks to the shared equity scheme. The scheme allows people to pay an amount significantly lower than the market value of the apartment, which, in turn, leads to lower mortgage repayments. Over time, a homeowner can choose to start buying back the equity, but they don’t have to start this process until they are in a position to do so.

To find out more and how you can apply visit www.dlrcoco.ie/affordablehomes