Rose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source

As the Minister outlined, many universities have student accommodation projects at various stages of planning and development. Many of these are shovel-ready. In my engagement with the universities and colleges, I have found that they are unable to progress these projects due to the relationship between project cost and what that means in respect of the rent that the colleges must charge students. In order to access loans, colleges must charge enough rent to repay those funds in a set timeframe. This means that as the construction costs for these projects go up, so do the amounts that colleges have to charge in rent. I have no doubt but that the Minister is fully aware of that point. Projects are being shelved because colleges are, rightly, unwilling to advance those that will deliver accommodation at rent levels that are far too expensive for the majority of students. I am concerned that accommodation relating to those projects that have progressed will involve the payment of very high rents. We already have student accommodation in public universities that can cost up to €1,300 per month, which is scandalous considering the current economic climate.

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