In a bid to address Ireland’s pressing housing shortage, the government has unveiled a €100 million initiative to construct over 500 cost rental homes across five counties. This move comes as part of a larger effort to alleviate the housing crisis gripping the nation.
Under the scheme, 547 new residences will be built in Leish, Kildare, Kilkenny City, Cork City, and Dublin City, with the majority—417 units—located in Dublin. These homes will offer rents at least 25% lower than the prevailing market rates, providing relief for middle-income earners who are not eligible for social housing support but struggle to afford private rentals.
With an additional €675 million already allocated for the construction of 3,250 cost rental houses in 12 local authorities, the government aims to significantly expand the availability of affordable housing options.
Eligibility for the cost rental program is determined by income, with households earning up to €66,000 annually in Dublin and €59,000 in other areas of the country qualifying for assistance. Unlike traditional rental properties, where rates are dictated by market forces, cost rental homes base their rents on the actual construction and maintenance costs, ensuring affordability for those in need.
This latest initiative marks a crucial step towards addressing Ireland’s housing challenges, offering hope for thousands of families struggling to secure stable and affordable accommodation.