How it works
How the Affordable Purchase Scheme Works at Montpelier
The Affordable Purchase Scheme is a Government-backed initiative, designed to help first-time buyers purchase newly built homes at a reduced prices. Under the scheme, a local authority in this case Dublin City Council takes an equity share in the property, equal to the difference between the full market price and the reduced price paid by the buyer.
This makes homeownership more accessible for individuals and families who may not otherwise be able to afford a home on the open market. The scheme considers factors like your mortgage capacity, deposit, and savings to determine the level of support available.
When you buy an apartment at Montpelier through the Affordable Purchase Scheme, Dublin City Council will take an equity share in your property. This share reflects the difference between the apartment’s full market value and the reduced price you pay as the purchaser.
The level of support you receive depends on your maximum mortgage capacity, along with your deposit and any savings you have. Dublin City Council’s equity stake will be represented as a percentage of the home’s market value, based on the shortfall between what you can afford and what the property is worth.
This scheme is ideal for first-time buyers who may not be able to purchase on the open market, offering a genuine route to homeownership in Dublin city.
In addition, the Montpelier development also qualifies for the Help to Buy (HTB) Scheme. To avail of HTB, you’ll need a qualifying mortgage from an approved lender.
More detailed information on this can be found below:
LEARN MORE VIDEO DCC BrochureHousing for All – Making Homeownership in Montpelier a Reality
At Montpelier, Dublin 7, Dublin City Council in partnership with Bartra, is delivering modern, city-centre apartments at reduced prices under the Affordable Purchase Scheme, funded through Government’s Affordable Housing Fund.
This initiative is aimed at first-time buyers who have a deposit (which can include Help to Buy Grant of up to €30,000) and mortgage approval but still face a gap between their mortgage capacity (based on their salaries) and the market price of a new home.
Buyers enter into an Affordable Dwelling Purchase Agreement with Dublin City Council, which provides financial support in the form of an equity share. This means the Council takes a percentage stake in your home, reflecting the amount of assistance given. There’s no requirement to repay this equity
share within a fixed timeframe — it can be bought out in full or in part at any stage.
If not redeemed during ownership, the equity share is settled upon sale, transfer, or in the event of the owner’s death.
The Affordable Purchase Scheme is designed for households using the maximum of their deposit and mortgage approval, yet who are unable to meet full market prices. It forms a key part of Government housing policy, which is built around a number of key goals including:
How to Buy an
Affordable Home
1
Browse Listings
View affordable homes on our website and other platforms.
2
Secure Financing
Obtain mortgage pre-approval or explore local authority home loan options.
3
Check Eligibility
Assess your eligibility for the Help to Buy Scheme (HTBS).
7
Equity Share Calculation
DCC determines the equity share based on your purchasing ability.
6
Application Review
DCC assesses and confirms your eligibility.
5
Submit Documentation
Provide necessary documents including income and residency proof.
4
Register Online
Sign up on our Affordable Housing portal.
8
Property Selection
Choose from available properties within your affordability range.
9
Booking Deposit
Secure your chosen property with a refundable deposit.
10
Formal Loan Approval
Apply for formal approval of your mortgage offer.
11
Contract Issuance
Receive the Contract of Sale and ADPA through your solicitor.
15
Funds Drawdown
Request funds from your lender for purchase.
14
Snag Inspection
Inspect your new home for any defects.
13
Contract Signing
Sign the Contract of Sale and ADPA with your solicitor
12
Insurance Arrangement
Arrange necessary house and mortgage protection insurance.
16
Purchase Proceeds
Complete the necessary funds processing.
17
Closing Process
Set a closing date with solicitors and collect keys from the developer.
FAQ
44 One Bedroom Apartments and 22 Two Bedroom Apartments
The price you will pay will depend on how much you (and your spouse/partner) earn. One bedroom apartments will cost between €258k and €321k; two bedroom apartments will cost between €334k and €406k with DCC taking a stake of 5% to 20% in the home, which can be bought out at a later date.
The salary range (single or combined) for one bedroom apartments is €58k to €72k and for two bedroom apartments is €75k to €91k. If your salary/salaries are below this level you can still apply but will need to have a higher deposit than 10% - see detailed examples in Appendix 1.
You will need a 10% deposit made up of a combination of savings and Help to Buy Grant. The Help to Buy Grant can be up to the full 10% deposit required (but is limited to €30,000).
The amount of your Help To Buy grant (which can be up to €30,000) will be based on the income tax you have paid over the last four years. Details of how to apply to revenue are set out here: https://www.revenue.ie/en/property/help-to-buy-incentive/index.aspx
Applications need to be submitted via DCC’s on-line porta which opens June 2025 at 12pm. 70% of the units will be allocated on a first come first served basis of valid applications received (the remaining 30% will be allocated on a lottery basis).
- There are a number of documents needed from Revenue
- Help to Buy Grant details (including application code and maximum relief available)
- Employer details summary
- Documents from your employer
- Salary cert
- formation from banks
- Mortgage approval in principle
- Bank statements showing savings for deposit
- Latest six month’s statements from all accounts fort all applicants (single and joint)
- Normal identification requirements
- Photo ID
- Proof of address
- Proof of PPSN
- Right to reside
- Local residency proof (for lottery)
Yes show units will be open for viewing in advance of portal applications opening, details will be posted on the Montpelier website.
In order to be eligible to apply for Dublin City Council’s Affordable Housing Schemes, applicants must satisfy the following criteria:
- You must be over 18 years of age;
- If you are married, in a Civil Partnership or in an intimate committed relationship with a partner and you intend to live in the affordable dwelling together, you must apply as a joint application;
- Each applicant must be a First-Time Buyer or meet the exceptions under the Fresh Start Principle, or own a dwelling which is not suited to the current accommodation needs of the applicant’s household due to its size;
- Each person included in the application must currently live in the Republic of Ireland and have the right to reside indefinitely in the State;
- The affordable home must be the household’s normal place of residence.
- Applicants from a member state of the EU/European Economic Area can apply for an affordable home, provided they are living in Ireland for a minimum of 3 months;
- Each Scheme will have different income limits depending on the cost and location of the homes. In general, the income limit for an affordable dwelling is 85.5% of the market value of the property divided by 4;
OR
If an applicant’s income multiplied by 4 exceeds 85.5% of the market value of the dwelling but is unable to secure a mortgage of this amount, they are also eligible once proof from a bank/financial institution confirming this is submitted.
Detailed information regarding eligibility can be found on the DCC website in the Frequently Asked Questions section.
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