Oireachtas Joint and Select Committees

Tuesday, 25 April 2023

Joint Oireachtas Committee on Housing, Planning and Local Government

Housing for All: Department of Housing, Local Government and Heritage (Resumed)

Photo of Darragh O'BrienDarragh O'Brien (Dublin Fingal, Fianna Fail) | Oireachtas source

That element was part of the debate and we went through the Land Development Agency Act. Cost-rental schemes on continental Europe allow ethical investment within that but cap creative return, and we can do that also. As a reference to tomorrow, the local authorities are now getting directly involved in cost-rental units, which is welcome, so that is local authorities, the LDA, approved housing bodies and, indeed, others if they can deliver it because it is a form of tenure that is very popular. I have had the pleasure of meeting many of the tenants who have gone into those homes and the Senator is 100% right that they are delighted. Some of those people had rented for many years in a dysfunctional rental market but they are now able to get safe and secure tenure with an affordable rent. Yes, it is across the board. I expect that the main delivery of that particular measure will be done through the LDA. As I mentioned to colleagues earlier, the changes to the cost-rental equity loan will be brought forward and I expect that to happen in June, which will assist further viability issues for the AHB sector that has engaged really well with us on this matter.

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