Is cost rental the new weapon in the fight to increase housing supply?
In her article, which can be read here, Fidelma reflects on whether the cost rental model is the solution to meet the long-term diverse housing needs of Irish society.
The latest figures from the Economic and Social Research Institute (ESRI), in a study conducted with the Department of Housing, Local Heritage and Government, suggest Ireland needs to build at least 28,000 new houses each year, over the next two decades to meet demands. However this statistic does not illuminate where the demand is coming from. The market, system and type of people driving it are varied and complex, logically meaning that any strategy needs to be sufficiently diverse and flexible itself over the long-term, to adapt to the shifting market demand and supply.
Fidelma reviews the current market and models of existing housing delivery and project funding, and she also explains the new Cost Rental Equity Loan (CREL) Scheme which is being brought in. Since this report was published, the Government has published both the Affordable Housing Bill 2020 and the Land Development Agency Bill 2021 which Fidelma has also given over views for.
For more information on the topics discussed in this article, or on Housing in general, contact Fidelma McManus or your usual Beauchamps contact.