Ms Tina Donaghy:

The 30% capital is practically non-existent when purchasing within Dublin because of the high cost of rent. It is very unlikely a capital subsidy would be received for a turnkey project in Dublin or the surrounding counties because of the high level of market rents. The roles have reversed. At its commencement, the new financial model restricted construction or purchase outside Dublin because of the low market rents. Now the opposite is happening and it is more viable to be able to construct and purchase outside Dublin. The only projects for which a capital subsidy would be received now are new build projects, which brings about our requirement for land, working closely with local authorities and having land transfers to enable us to be able to deliver projects in existing urban centres where need is highest.