Cork City Council approve ambitious plans to deliver hundreds of affordable homes
Councillors last night approved a €40 million bridging finance facility to allow middle income earners to get on the property ladder.
It's estimated people who can't afford a mortgage could save around €80,000 on the price of a home.
The fund will be used to buy land and pay developers and will be replenished by the sale of the finished homes.
Speaking to RedFM News, Cllr Seán Martin who proposed the plan, outlines how prices can be kept low:
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