Tuesday, 13 July 2021
Department of Housing, Planning, and Local Government
365. To ask the Minister for Housing, Planning, and Local Government the number of long-term lease and Part V lease approvals granted to date in 2021; the number of units in each approval; the local authority in which each approval was granted; the average annual cost of the lease in each development; and the average length of the lease in each development. [37991/21]
To date, a total of 62 leasing projects have been approved by my Department in 2021 under the Long Term Leasing and Enhanced Leasing Schemes. These 62 projects have approval for the delivery of 783 dwellings under long term lease agreements and 135 dwellings under Part V lease agreements. A breakdown of these approvals by local authority, detailing the term of the agreement and number of units in each approval, is set out in the attached Table.
My Department does not release specific cost information at a project level as these transactions are commercially sensitive and contain proprietary information that may impact on the competitiveness of the local authority sector. The average cost of all long term leases approved in 2021 is €17,115. In a Part V leased unit, the lease payment can vary greatly depending on how the equivalent net monetary value has been reflected in the agreement. This is usually achieved by either a rent free period up front or a discount on the lease payment over the term of the lease (or part thereof). When this is taken into account, it is estimated that the average cost of Part V lease units approved to date in 2021 is €17,512 annually over the term of the lease. It is important to note that the Part V leased units approved to date in 2021 are largely in Dublin. The average lease cost will vary having regard to the location of the dwelling, size and the property type.