Those hoping to live in a prestigious Dublin suburb are in for a boost with news that Dún Laoghaire Rathdown County Council is to cut the price of houses and apartments in the area.

Aimed at buyers, the scheme will offer affordable housing for first-time buyers on the former Dún Laoghaire Golf Club site - even though the Council will take a cash 'fall' in the deal.

It has agreed to pay developer, Cosgraves, an average €250,000 - a price agreed in 2006, at the height of the property boom - for the one and two-bedroom social and affordable apartments on the grounds of the former club and it will then lose around a quarter on each unit once sold.

The apartments are being sold at prices from €136,000 and are by far the lowest in the area.

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Affordable buyers - those who are on the official affordable housing list - will get priority, but the units are also available on the open market at €170,000 and first-time buyers will also get priority.

Two-beds will cost buyers on the council's affordable list from €184,000, while open market buyers will pay from €230,000 for the same units.

The council will allocate the remaining 80 apartments (of a total 143) in the circular complex - which faces onto a central courtyard with a small toddlers' playground and a set of stairs leading to an underground car park - to people on its social housing list.

The scheme, called Honeypark, is the first phase of a large development planned by Cosgraves on the 78-acre golf club lands where it has permission to build a mix of 840 units. This phase is just beside the roundabout at the junction of Glenageary Road Upper and Kill Avenue.

The Cosgrave Group plans to put houses in the scheme on sale in spring 2011.

The apartments are in 10 adjacent four-storey 'core blocks', each core having between 12 and 16 apartments, its own entrance and its own lift to the basement. The units are a good size and come with patios at ground level or good-sized balconies above.

(BMcC/KMcA)