Brendan Burgess
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Affordable house in Dublin sells at 90% above original price
Ó Cualann co-op house sold at discount for €170,000 goes sale agreed for €325,000
Sales price today €325k
Purchase price 4 years ago: €170k
Clawback: €57k
Profit for owner: €98k - a 58% return on his investment.
The council sold the land to the co-op for €1,000 per house plot. On the open market the same plots would have cost up to €30,000. The council also waived the development levies of €86.40 per square metre.
Unfortunately, it does not say what the market value of the house was at the time.