A staggering 4,608 applications were submitted for just 195 cost-rental apartments in a new development at Shanganagh Castle in Dublin’s Shankill.
The Land Development Agency (LDA) opened applications for the apartments last week, and demand far exceeded availability.
Of the total applications, just over 2,200 met the eligibility criteria for the scheme. A lottery will be conducted in the new year to determine which applicants will secure one of the highly sought-after homes.
The high level of interest underscores the urgent need for affordable housing options in Dublin.
The development consists of 195 homes, offering a range of layouts to suit different needs. These include 19 studio apartments, 40 one-bedroom units, 107 two-bedroom units, and 29 three-bedroom units, designed to cater to diverse household sizes.
Cost-rental housing is specifically designed to provide long-term rental security at rates significantly below market prices.
Typically, rents are set at approximately 25% less than prevailing market rates, making this option particularly attractive in Dublin’s challenging rental market.