What is Croí Cónaithe (Cities)?

Croí Cónaithe (Cities) is a Government initiative designed to help individuals and families buy newly built apartments by reducing the viability gap between the cost of construction and market value.

It applies to all apartments within a Croí Cónaithe (Cities) approved development. 

Who can buy an apartment under this scheme?

Individuals and families who will live in the apartment as their primary residence, including first-time buyers, downsizers, or families selling their current home.

What will the apartments cost?

Apartments will be sold at market prices.

First-time buyers can also benefit from the First Home Scheme and the Help to Buy Scheme, (where eligible for such schemes), making homeownership more affordable.

Mortgage buyers will benefit from the banks' lowest green rates, available for any property with a BER rating above B3.

Understanding ‘Clawback Payments’

Croí Cónaithe (Cities) supports genuine homebuyers who intend to make their apartment their home. 

If you decide to sell your apartment within a certain period at a price greater than what you paid, a ‘clawback’ payment will apply to the capital gain.  This means that if you sell the property within the first ten years, you may be required to repay a portion of the subsidy received, with the amount decreasing over time.  After ten years, the clawback does not apply.

What do I need to do:

Apartment developments are approved for Croí Cónaithe (Cities) before construction begins so the purchaser does not need to apply for the support. 

An additional clause relating to Croí Cónaithe (Cities) will feature in your contract of sale which your Solicitor can guide you through.

In your contract of sale there will be an additional section that relates to Croí Cónaithe.  Your solicitor will talk you through the information.