Dublin 24 from €290,000:  The supply of tax incentive schemes is dwindling, so buyers with a rental income are likely to target a new Section 23 development launching today at Hooke & MacDonald's Lower Baggot Street offices.

Prices start at €290,000 for 47-65sq m (506-700sq ft) one-bedroom apartments at PriorsGate, an off-plans scheme in the old village and close to The Square shopping centre in Tallaght, Dublin 24. Two-bedroom units of 64-94sq m (689-1,012sq ft) cost from €365,000. Completions are scheduled for summer 2007.

Fifty apartments are being sold in this first phase, out of 198 in the entire development. Under Section 23, owners can set all rental income in the Irish Republic against tax. Owner-occupiers can claim tax relief of 50 per cent of the purchase price against all income, including PAYE.

Developer P Elliott & Co and JNP Architects have produced a good standard fit-out for the three five and six-storey blocks at PriorsGate. The good-sized apartments will come with large sit-out balconies, some with mountain and city views.

Fashionable vanilla gloss kitchens will have wood-look worktops and a full range of integrated appliances.

Wardrobes will also be included and bathrooms will come with wall and floor tiling. Underground car-parking is included with the price.

The blocks will have a commercial element on their ground floor levels, with a crèche, chemist, bank and convenience shops planned for.

This is a strong letting area, with an IT (institute of technology), hospital and numerous businesses in the vicinity and the Luas on the doorstep.

Previous new homes schemes by developer P Elliott & Co include Forbes Quay in Dublin 2 and Parklands at Santry Demesne.