The Fife properties form three blocks of four apartment dwellings.
Initially, plans had been developed to carry out improvements during 2013/14, due to major water penetration problems, the intention was to temporarily move the tenants to allow the improvements to be undertaken and they would then return to their homes.
The estimated cost of improvements for each flat was around £60,000, but following a more recent review, the cost has increased to £75,000 per flat, bringing the project to a total £900,000.
Councillor William Clarke, Cowdenbeath Area Chair said: "The flats in Craigie Street are, quite simply, too expensive to repair to bring them to standard that would be fit for letting and are an eyesore to the village. We consulted with tenants and looked at various options, including spending almost more £900,000 on renovating them.
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"The strong preference was that the flats should be demolished and the tenants are allocated new homes, either with Fife Council or another social landlord.
"In view of this increased cost and the lack of demand for properties this size, it was agreed that demolition, at a cost of £40,000 would be more appropriate.
"Even after the renovation work, said a report to the area committee, there's no guarantee that the flats would prove any more popular to rent."
Derek Muir, Head of Housing and Neighbourhood Service added: "Discussions are ongoing with tenants on their future homes, in advance of the demolition taking place. Five of the 12 flats are now vacant, as the tenants have accepted permanent accommodation. We're looking at various options on the future housing needs of the remaining tenants and will discuss these fully with people involved.
"Once demolished the site will be grassed over pending further consideration of demand for housing in this area."
(JP/CD)
