D7: from €360,000 Fifty apartments going on sale from plans today at Smithfield Market carry Section 23 tax breaks for investors and owner-occupiers. Deposits can be placed at a sales centre set up on the site by agent Hook & MacDonald.

Prices are almost always high for tax-incentive properties, because investor properties are strongly market-driven. Presumably the developer benefits most from this Government initiative. Going by earlier phases of this scheme, investors are likely to be well in the running again at Smithfield Market.

Prices start at €360,000 for one-bedroom units of 41 - 61 sq m (500 - 660 sq ft). Two-bedroom apartments of 74 - 93 sq m (930 - 1,200 sq ft) cost from €445,000 and €525,000 for three-bedroom apartments. Most of those for sale this week are two-bedroom units. Two and three-bedroom penthouses with 112 sq m (1,200 sq ft) terraces start at €775,000.

Under the tax designation, investors can set a percentage of the purchase price against all rental income in the Republic. Owner-occupiers can set all income, including PAYE, against tax over the same ten year period, based on 80 per cent of the price.

Previously known as West Smithfield, the huge site has provision for 460 apartments, 9,290 sq m (100,000 sq ft) of office space with car parking and 6,503 sq m (70,000 sq ft) of retail space. A gymnasium, spa facility, a 100-bedroom hotel and 5,574 sq m (60,000 sq ft) cultural centre are also planned. A Luas station is 50 metres from the apartment.

Developer Fusano Properties has arranged with Smart Telecom to offer an up-to-the-minute digital entertainment and broadband communication package to owners, at a cost of €100 per month.

Exteriors will have large expanses of window glass and either brick or render facades. Glassed-in balconies will be a good size and communal roof gardens will be provided. For owner-occupiers who can afford one, these apartments would make a convenient city living space.

The apartments will come with a good number of extras as standard, including all kitchen and bathroom tiling, bathroom fittings, wardrobes and a full range of appliances. Most apartments will have an en suite shower off the main bedroom and most will have balconies.

Parking will be provided at an additional cost, not yet decided. An earlier phase is well under way and completions in this phase are expected from February and March 2005 to the end of next year.