Burkeway Homes proudly presents 8 new homes for sale at Garraí na Sailí, Letteragh Road, Galway. Four no. 2 bed and four no. 3 bed duplex homes are being made available for sale in partnership with Galway City Council through the affordable purchase arrangements, under the Affordable Housing Act 2021 and associated regulations.
Applications will open at 12 noon on Thursday 30 January 2025 and close at 12 noon on Friday 13 March 2025. You can register and then apply via the online portal at https://www.galwaycity.ie/affordable-housing. All applications will be initially prioritised in order of date and time received in accordance with Galway City Council’s Scheme of Priority.
The minimum purchase price is:
- €285,000 for the 2 bed duplex homes
- €315,000 for the 3 bed duplex homes
The purchase price you pay will be calculated based on your income and mortgage capacity. You will enter an Affordable Dwelling Purchase Agreement with Galway City Council which will take an equity share in your home, equal to the difference the market value and the purchase price you pay. The equity share is expressed as a percentage of the market value of the home.
You can choose to buy out the equity share in your home at any time within 40 years by one or a series of payments to Galway City Council. Certain events can trigger the equity share to be repaid. See Frequently Asked Questions (FAQ) for further details on https://www.galwaycity.ie/affordable-housing.
You are eligible to apply for the scheme if you satisfy the following criteria:
• You are a First-Time Buyer or meet the exceptions under the Fresh Start Principle.
• Each person included in the application must have the right to reside in the State.
• The affordable home must be your place of residence.
• You must need at least a 5% equity stake from the local authority.
• You have a minimum deposit of 10% of the purchase price.
• It is recommended that applicants have their mortgage approval in principle prior to applying for an affordable home.
The price you pay for your home will be higher if your income and mortgage capacity is higher and the equity share will be lower. The table below sets out the income limits.
If your gross household income is above these limits but you have reduced mortgage capacity, you may still be eligible to apply. Please refer to our FAQ at
https://www.galwaycity.ie/affordable-housing.
|
Property Type |
Gross Household Income Limit€* |
Max Equity Share |
Market Value |
Minimum Purchase Price |
Maximum Purchase Price |
|
2 Bedroom Duplex |
76,950 |
20.83% |
360,000 |
285,000 |
342,000 |
|
3 Bedroom Duplex |
83,363 |
19.23% |
390,000 |
315,000 |
370,502 |
Further Information on this scheme , including the Scheme of Priority for applications , a list of supporting documentation required , and a checklist for applicants, are all available at https://www.galwaycity.ie/affordable-housing.
Please ensure to follow all instructions so that your application is valid.
