Richard Bruton (Dublin Bay North, Fine Gael)
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53. To ask the Minister for Finance if he has studied the recent report from his Department on the difficulty of securing funding for multi-unit developments, and if there are implications for public policy; and if he will make a statement on the matter. [45439/24]

Jack Chambers (Dublin West, Fianna Fail)
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As the Deputy is aware, overall housing policy is the responsibility of my colleague the Minister for Housing, Local Government and Heritage.

In relation to the availability of funding for residential development specifically, viability remains the primary challenge for securing funding for residential housing development. When a project is viable, funding is available.

However, as the Deputy is aware, viability is a challenge in certain segments. For the development of houses, there is an active funding market across all tenure types. There is strong competition across the segment, with domestic banks, secondary and alternative lenders and State-backed entities all very active in funding the delivery of housing developments.

Houses can be built and sold in phases, which reduces risk and allows for development capital to be recycled for further phases of the development. Furthermore, houses are less costly to develop than apartments, resulting in higher demand for finished products and less concerns on affordability for purchasers.

Apartment development, on the other hand, is more challenged on viability grounds. Apartments are costly to develop, very capital intensive and higher risk from both a lending and development perspective.

As the Deputy is aware, Government policy acknowledges the need for a consistent supply of housing for all tenure types and Housing for All sets out the range of actions necessary to increase the supply of housing across all tenure types. Through the implementation of Housing for All, the Government has invested unprecedented levels in housing delivery, including a number of measures to support viability, supporting the completion of 32,695 homes in 2023 and the commencement of 49,007 homes in the first nine months of 2024.