DUNSINK: WILL THE HOMES BE AFFORDABLE?
The Dunsink Urban Area Plan proposes a major new residential development for much needed housing. However, a submission by property consultants Savills to Fingal County Council raises serious questions about whether the housing delivered will be affordable for households in the surrounding communities and if the proposed densities are suitable. The full Savills submission can be read here.
Buying a Home
Savills uses new apartments at Orby, the former Phoenix Park Racecourse development, as a local comparison. Nine of the 22 new-build apartments sold there since the beginning of 2026 were priced between €443,000 and €500,000.
Even for a €500,000 apartment, Savills estimates that a buyer would need a mortgage of approximately €350,000 after applying the maximum Help-to-Buy and First Home Scheme supports, alongside a €20,000 deposit. The estimated minimum household income needed to support that mortgage is €87,500 per year.
According to Department of Housing analysis, the total cost of constructing a two-bedroom suburban apartment in Dublin is now €559,000.
Assuming a construction cost of €559,000 per apartment, as outlined above, the total development cost across 15,000–18,000 units would be approximately €8.4 billion to €10.1 billion before wider infrastructure and financing considerations.
Renting
Savills reports that the average rent for a new tenancy in Fingal was €2,150 per month, equivalent to €25,800 annually.
Savills estimates that a net household income of almost €73,800 would be required to bring the rent within that benchmark.
THE KEY QUESTION
Building 15,000 homes does not automatically mean building 15,000 affordable homes.
The challenge is to ensure that Dunsink provides housing that people can realistically afford, while creating a balanced community with a genuine mix of homes, incomes and tenures.
The affordability figures presented by Savills raise important questions that deserve clear answers before the development proceeds. You can read their full submission here.
