Jim O'Callaghan (Dublin Bay South, Fianna Fail)
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268. To ask the Minister for Housing, Planning, and Local Government the estimated cost of extending the tenant-in-situ scheme on a full year basis per target of 250 units, in tabular form. [40274/24]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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Housing for All is the Government’s plan to increase the supply of housing to an average of 33,000 per year over the next decade. This includes the delivery of 90,000 social homes, 36,000 affordable purchase homes and 18,000 cost rental homes. Housing for All is supported by an investment package of over €4bn per annum, through an overall combination of €12bn in direct Exchequer funding, €3.5bn in funding through the Land Development Agency and €5bn funding through the Housing Finance Agency.

Under Housing for All, there was provision for 200 social housing acquisitions each year. For 2023 and 2024, the Government has agreed that there will be increased provision for social housing acquisitions and the Department will fund local authorities to acquire at least 1,500 social homes.

The additional 1,300 acquisitions will be focused on properties where a tenant in receipt of social housing supports, including Housing Assistance Payment (HAP) and Rental Accommodation Scheme (RAS), and has received a Notice of Termination due to the landlord’s intention to sell the property.

While it’s not possible to accurately predict future property price movements, the CSO Residential Property Price Index (RPPI) shows that nationally, property prices increased by c. 9.6% in the 12 months to July 2024. Analysis of the most up to date social housing acquisition cost information available, coupled with the RPPI figures indicate that additional acquisitions will cost in the region of €301K per unit.

The table below sets out the estimated cost for tenant in situ social housing acquisitions.