Controversial Housing Bill to Be Presented to Government

Grainne McMahon, Content Editor (Ireland)

May 4, 2021

The Housing Minister is to present the controverisal Affordable Housing Bill to the government today.

The legislation would allow the Land Development Agency to build affordable homes on state-owned land with the aim of making it easier for local authorities to deliver homes.

The Housing Minister, Darragh O'Brien said he hoped the legislation would be passed before the summer recess. 

The bill would provide for a shared equity scheme which would see the government taking a stake of up to one third of the value of a property when buyers can't afford the full mortgage. 

The ESRI and Central Bank have raised concerns over the scheme. The Central Bank said it could leave borrowers with 'excessive indebtedness' and could put 'upward pressure on house prices', while the ESRI warned that it would likely lead to higher house prices.

The Government has set aside €75 million in the budget for the programme.

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