A recent survey by Galway City Council has revealed a strong appetite for affordable housing in the city. Affordable homes are properties at a reduced rate to the open market value. These schemes are open to first time buyers, fresh start buyers and other eligible buyers who cannot afford to purchase a home on its open market value.
The Local Authority (LA) takes a percentage equity share in the home, equal to the difference between the open market value of the home and the reduced price paid - that is, if someone buys a home at a 20% reduction on the open market value, the LA will have a 20% equity share in the home.
60% of those surveyed expressed a preference for a house, while 8% of respondents expressed a preference for an affordable apartment. A further 27% were interested in both options.
The majority of respondents were seeking a three-bedroom house (50%), followed by a two-bedroom house (26%).
There was interest in properties in both the east (24%) and west (29%) of the city, with 43% indicating no preference on location.
The Affordable Housing survey was conducted by Galway City Council online in Q1 2024, with over 1,300 responses analysed. These results are informing development of affordable housing projects in the city.
Two affordable housing projects are currently in progress. Garraí na Sailí, Letteragh Road, Galway application portal will open 12 noon on 13 February 2025, with 8 units available. Galway City Council also partnered with an Approved Housing Body at Claí Mór, Old Monivea Road, Ballybane Galway for the first Cost Rental scheme to be delivered. Further other schemes are currently under negotiation.
Over 1,100 respondents requested an information evening on affordable housing, which Galway City Council delivered on 25th November 2024.
Galway City Council also held a developer briefing in October 2024, and welcomes all interested developers to make contact with Galway City Council at AffordableHousing@GalwayCity.ie in relation to delivery of Affordable Housing.
