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Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Social and Affordable Housing Provision (11 Dec 2019)

Eoin Ó Broin: ..., to say that the average cost of construction of new units, including apartments and houses, by local authorities last year was €200,000, one would have hoped that the purchase price for the homes in Clonburris could be below that. I say this because the average loan offering from South Dublin County Council under the Rebuilding Ireland home loan this year was €200,000. To...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Social and Affordable Housing Provision (11 Dec 2019)

Eoin Ó Broin: It is important to acknowledge, however, that affordable cost rental across Europe looks at 40-year plus loans and not the 25 to 30-year loans the EIB is providing for St. Michael's. For the Enniskerry Road project, I understand there is an innovative type of financing that allows it to be financed via the Housing Agency up to 40 years. If a similar arrangement was provided for St....

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Social and Affordable Housing Provision (11 Dec 2019)

Eoghan Murphy: ...this are in place now, it took some time for them to be constructed. We have a number of people working on the different types of finance available and how it might be structured into longer-term loans. These are the National Development Finance Agency, the European Investment Bank and some private consultants for some of the individual sites. I have no doubt that as we continue to...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Social and Affordable Housing Provision (11 Dec 2019)

Eoghan Murphy: ...the 10% requirement can be structured so that only 3% of it has to come from the person's savings. There are further mechanisms to assist there. Ultimately, when we consider the approval of a Rebuilding Ireland home loan it is linked to the person's ability to pay; it is not linked to their income. It must remain linked to that.

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Social and Affordable Housing Provision (11 Dec 2019)

Eoghan Murphy: Delivery of more affordable homes to rent or buy is a priority for the Government and my Department has developed a range of measures to assist local authorities to provide homes of this nature, which are being utilised at the three sites referred to by the Deputy. In relation to Clonburris, which will provide 8,000 homes, the local infrastructure housing activation fund, LIHAF, and the...