Affordable Housing & Cost Rental

Mary welcomes the announcement of new Government funded Affordable Housing schemes to provide affordable homes to both purchase and rent from Minister Darragh O’Brien TD.

Legislation for Affordable Housing to purchase will be introduced in 2021 which will see the State take up to 30% equity in a home with a first time buyer.  This will help people whose earnings are above the social housing scheme thresholds to purchase their own home.

Additionally the Minister has also issued a ‘Call for Proposals’ for his Department’s new Cost Rental Equity Loan (CREL) scheme. This initiative will fund affordable homes to rent.  The €35million fund will support Approved Housing Bodies (AHBs) to deliver approximately 350 cost rental homes in 2021 and forms part of a larger allocation of €468 million for housing affordability measures.

This is another important step in Mary’s work with the Minister and Government to deliver new affordable housing to both purchase and rent.