The current price of both domestic and commercial real estate property have escalated manifold, this creating multiple problems for first time property buyers. The introduction of the Affordable Housing Scheme assists people who have a low to middle-income range and thus cannot afford to purchase a house at the open market rates. There are several houses for sale put up on sale by the Dublin City Council and these can be purchased at a much lower rate, one that is far less than the current market value.
These properties are available for government initiatives. You may wonder as to how does one qualify for Affordable Housing. It is dependent on the earnings of the applicant. Housing options are provided to those who need a suitable accommodation and would have had to pay more than 35% of their net annual income for mortgage payments.
In fact, some properties that have been constructed on the land owned by Dublin City Council will be offered to those who earn an amount less than €80,000. The applicant should also be a first time buyer of a property. If you are looking for a house for sale in Dublin and fall in the above-mentioned category, then you can look to invest in properties that have been constructed by the Dublin City Council.
In case you do not happen to be a citizen of the European Union, then you need to submit a document called the Entitlement to Reside in Ireland. The applicants need to be employed in a permanent job for the past 12 months from the time they file an application. You can take the assistance of professional real estate agents in order to gain information in this regard. This will help you to get an idea about how it all works