Housing Agency Backs Affordability At Cairn Homes' Seven Mills Development
The Housing Agency has signed a deal with Cairn Homes to deliver 332 apartments for sale to owner-occupiers at Seven Mills, Dublin 22, a new town being developed in the capital.
The homes form part of the Croí Cónaithe (Cities) scheme, an initiative launched in 2022 to make apartment construction financially viable for sale to individual buyers.
Under the agreement, one-bedroom apartments will be sold for €225K, while two-bedroom units will be priced at €350K. The Seven Mills development will comprise 83 one-bedroom and 249 two-bedroom apartments in total.
Cairn Homes had originally agreed to sale prices of €245K and €365K for the one- and two-bedroom apartments, respectively. However, the reduction of value-added tax on new apartments to 9% in the latest budget allowed the savings to be passed to buyers.
Located along the Grand Canal, Seven Mills is Ireland’s fastest-growing community, according to Cairn Homes. Since the first residents arrived in late 2023, the population has increased to more than 2,500 and is expected to reach approximately 3,500 people by the end of 2025.
The town is master-planned around two retail and commercial hubs, and the scheme is expected to allocate around €450M to support the construction of 5,000 apartments by the end of 2027.
Previously, Cairn Homes partnered with the Land Development Agency to deliver 607 cost-rental homes at Seven Mills.
The housebuilder has also used the Croí Cónaithe scheme for projects in Cherrywood, Dublin, set to launch in November, and Douglas, County Cork, with a pipeline of three or four additional developments to follow.
To date, the Housing Agency has contracted 1,616 apartments under the scheme, primarily in Dublin and Cork, with Limerick, Galway and Waterford also included. Apartments must be purchased as a primary residence, excluding investors and second-home buyers.
Tickets for Bisnow’s Ireland Residential Investment and Development Conference 2025 on 27 November are available here.
