New social housing leases will cost state over €1.4 billion

Despite government commitment to phasing the practice out, new deals are due to be signed to lease 3,500 homes at €412,000 per home over 25 years

26th December, 2021
New social housing leases will cost state over €1.4 billion
The average cost of long-term leases approved in 2021 was €16,500 per annum. Based on that delivery cost, the additional 3,500 homes due to be leased would cost more than €1.4 billion.

New deals due to be signed to lease 3,500 homes for social housing will cost the state more than €1.4 billion, or €412,000 per property, over the next 25 years despite a commitment from the government to phase out the practice.

Data released by the Department of Housing has shown that despite the move to phase out the leasing method, the state is still expected to take on 3,500 new leased social homes between 2022 and 2025...

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