A Dublin property company is planning to offer 27 large new houses for sale near Malahide in Co Dublin at prices ranging from just under £1 million to £1.5 million. They will be the most expensive new homes to come on the market in the Dublin area.
Parkway Properties intends to sell the houses off the plans once they secure planning permission for them on a site at Auburn, on the city side of Malahide. At least two other developers are already more advanced in their plans to build new £1 million south Dublin houses.
The Malahide houses will range in size from 3,500 and 5,083 sq ft and will be mainly three-storey. Most will have six bedrooms, and the largest will be geared for grand entertaining. It will have a range of reception rooms, including a living room, dining room, study, library and games room. The houses will stand on half-acre sites and will have up to three garages.
Mr Michael McDonald of Parkway Properties said he expected the detached houses would be bought mainly by successful people in financial services and also by overseas executives coming to live here.
Parkway Developments paid over £3 million more than three years ago for the 41-acre Malahide site, with planning permission for 50 houses. It has since sold off 23 individual house sites for an average of £200,000 each. The land has mature woodlands and is reached from the Malahide-Swords road.
House values in Malahide are among the highest in north Dublin because of a constant shortage of properties coming on the market and the scarcity of development sites. Many Malahide houses for sale are bought by locals keen to stay.
Four- and five-bedroom houses in Dublin's most expensive new housing scheme, Thornfield, at Donnybrook, Dublin 4, made between £580,000 and £630,000 when they were launched two years ago. One has been sold since for around £850,000.
