Irish homebuilder Cairn homes recently revealed a record order book which showed net sales equalled one billion euros (£860 million).
The homebuilder group now expects to have completed “at least 1,800” projects. It believes this will generate revenue in excess of 675 million euros (£580 million).
What projects are Cairn involved in?
Cairn is currently developing a small town in South County Dublin, known as Seven Mills, Dublin 22. This is the business’ largest project to data and has a “focus on creating a sustainable and connected community.” The project lies 13km from the city centre. The aim is to create a warm and welcoming community.
Plus, Seven Mills offers a range of three and four-bedroom homes. Most qualify for Help to Buy and First Homes Scheme initiatives, perfect for first-time buyers.
Backing for new build homes in Ireland
A new small town is being developed in South County Dublin.
The housing landscape in Ireland is undergoing a massive shift due to the cost-of-living crisis. Couples who would have previously been on the property ladder at 23, are now having to save for longer and market analysis shows they will be stepping onto the property ladder in their mid-30s.
Furthermore, research from Savills shows investment activity in the housing sector grew to a record high of £1.26 billion in the second quarter of 2023. Meanwhile, built-to-rent or BTR developments are on the rise in Ireland and have been fuelled by a weak market.
In a bid to speed up the delivery of 5,000 new homes across Ireland, the Land Development Agency (LDA) is set to pay developers an additional €2 billion (£1.7 bn). The project targets locations for housing developments in Dublin City & County, Wicklow, Galway City, Cork City & County, Kildare, Waterford City, Meath, Limerick City & County, and Louth.
Why choose new-build in Ireland?
Could a new build home suit you?
There are many benefits to buying new as opposed to resale, but the main comparison lies in the quality of the build. With a new-build, there’s a 10-year guarantee on the build, meaning you’re protected should anything go wrong. Moreover, there is a lack of security when buying resale, as you don’t know what a few more years could do to your ageing property.
On that topic, Cairn chief executive, Michael Stanley said “in 2023, Cairn will deliver 1,80 energy efficient and quality-built new homes to our customers.”
Other advantages of buying a brand-new property include:
- You’re the first resident (no seconds!).
- You often have the option to choose furnishings and fittings in the late stages of development.
- They’re efficient and sustainable (up to the most recent standards).
- They can have higher investment potential (if you choose wisely).
- Construction time differs, anything from 12-24 months is common. This might offer a bit more flexibility of how much you have to put down up front.
- Open to bartering. Developers often offer a reduced rate for the first few homes on a development sold, to attract other buyers.
Plus, learn more about the advantages of buying a new build here.
Top tip:
If you’re interested in buying a new-build property from a developer, visit one of their completed sites to check out the quality of the build, communal spaces and whether you like what you see.
Finally, check out our other Ireland articles:
