Green light for €450m state scheme subsidising private apartments

The Croí Cónaithe Cities scheme will provide builders with between €25,000 and €144,000 per unit

Darragh O’Brien, the Minister for Housing, said the scheme will increase the supply of new homes. Picture: Colin Keegan, Collins Dublin

The European Commission has given approval for the government to move ahead with its new Croí Cónaithe fund, which will subsidise developers building apartments for private sale.

Launched last year, the Croí Cónaithe Cities scheme will subsidise the cost of building apartments by providing developers with between €25,000 and €144,000 per unit. It is hoped these funds will bridge the gap between how much it costs to build an apartment and the price people can ...