Minimum 50 years for cost rental homes under government subsidy scheme for developers

Darragh O’Brien believes that subsidies of €150,000 per unit would deliver 4,000-6,000 homes

Construction work taking place at the LDA’s cost rental scheme at Parklands estate on Fortunestown Lane, Citywest, earlier this year. Picture: RollingNews.ie

Darragh O’Brien, the Minister for Housing, has said that developers will have to provide cost rental homes for 50 years in return for getting subsidies of €150,000 per unit under new plans announced on Tuesday.

He was speaking at the launch of the government’s €1 billion housing package to encourage developers to proceed with up to 80,000 inactive planning permissions for new homes.

O’Brien said that he believes that the subsidies for new cost rental ...