Two large apartment developments, one with Section 23 tax relief, close to Tallaght town centre are cheaper now than when first launched, says Edel Morgan
PRIORSGATE - FROM €210,000:A NEW PHASE of Priorsgate in Tallaght, Dublin 24 goes on the market this week with prices reduced by €75,000 to €90,000 since last year.
Apartments now start at €210,000 and they come with Section 23 tax incentives.
Developer P Elliott & Company has almost completed the development which is on the corner of the Tallaght Bypass and Greenhills Road, convenient to Tallaght town centre and the Luas.
One-beds of 47-63sq m (510-680sq ft) are priced from €210,000 and two-bed apartments of 62-81sq m (670-875sq ft) are from €275,000.
Hooke & MacDonald is the selling agent.
In April 2007 one-bedroom apartments cost from €285,000 and two-beds started at €365,000. The overall development is made up of apartments and shops, including a pharmacy, convenience store and banking facilities as well as a crèche.
The design by JNP architects incorporates three blocks of five to six storeys.
In October 2006 when the scheme was launched one-beds started at €290,000 and two-beds were from €365,000. All of the apartments have balconies and fitted kitchens with appliances as standard.
The communal grounds have landscaped garden areas and a central courtyard.
The agent says that tax incentive schemes, which come to an end soon, are leading to an "upsurge" in demand for qualifying properties, particularly from investors.
Owner-occupiers can obtain tax relief against all income, including PAYE, on 50 per cent of the net purchase price in equal amounts over a 10-year period.
ARENA - FROM €199,950:ANOTHER TALLAGHT apartment scheme with substantially reduced prices is being launched this week with prices starting at €199,950.
The latest phase of P Elliot & Company's Arena development at the junction of Whitestown Way and the Tallaght bypass in Dublin 24 will have a show apartment on view this Saturday and Sunday afternoon.
One-bed apartments with 43-53sq m (460-570sq ft) of space are priced from €199,950 and two-beds with 58-69sq m (625-740sq ft) of space are from €250,000. Three-bed apartments,which have 75-106sq m (805-1,140sq ft), start at €310,000. Hooke & MacDonald is the selling agent.
Since September last year prices have been reduced by €65,050 for one-beds, two-beds are down by €80,000 and three-beds by €70,000.
Interestingly, prices are now lower than when the development was first launched in October 2005 when one-beds were from €235,000, two-beds started at €265,000 and three-beds started at €325,000.
An integrated development, it has shops, a hotel and leisure centre and offices. The Arena Tower hotel and the leisure centre recently opened on site and Bank of Ireland located their 365 online branch in a large commercial premises there. Woodies Home and Garden Superstore has also opened recently. Lidl is set to open a store shortly.
The design by RKD architects incorporates eight blocks ranging from two to six storeys.
