Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

There has been a well-documented viability gap between the delivery cost of eligible apartments and the open market sale price of the apartments. This is preventing many apartments from being built. There is a significant issue in the cities in particular. We want to enable affordability for people to be in a position to buy.

The beneficiaries of this grant will be members of the general public, who will now be in a position to buy apartments in city schemes, and the apartment supply sector, which can bring stalled schemes to construction. It is one part of a suite of measures designed to increase social, affordable and private housing. It will only bridge the gap between the achievable price on the open market and the cost of construction, which in many cases is expected to be less than €120,000.

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