Local authorities will buy up to 500 ‘turnkey’ houses

Local state authorities are looking to buy up to 500 ‘turnkey’ homes from builders in a new offering to boost the supply of affordable and social housing.

Housing Minister Dara O’Brien has set aside € 55million to help councils buy off-plan homes next year in Dublin, Waterford, Limerick, Galway and Kilkenny.

The properties will be sold to buyers designated by local authorities as eligible for affordable and social housing, with the boards providing between € 50,000 and € 100,000 of the purchase price in each case.

Local authorities in Westmeath, Meath, Wicklow, Kildare, Louth and Laois will also seek ‘turnkey opportunities’ under the Housing for All plan to increase the supply of affordable housing in areas of acute shortage.

Houses for rent at cost price

The homes will be sold at “reduced prices” to first-time buyers. Some may be offered as low-rental housing at targeted rents “at least 25% below” open market rates, he said.

Dún Laoghaire-Rathdown County Council in Dublin on Thursday appealed to builders and developers, saying it wanted to buy unbuilt houses or apartments with a building permit before construction.

“This call targets early purchase opportunities for a minimum of 10 and a maximum of 150 homes in a single project, but the council is ready to consider all proposals, including those for less than 10 homes,” he said. -he declares.

As part of previous initiatives to buy unstarted or partially completed homes, the council purchased a small 14-unit project in 2018. This year, it acquired 27 units at two sites.

Waiting list

The council acknowledged that a “significant number” of authorized developments had not started, although the number of planning permission had increased considerably.

Some of the houses in Dún Laoghaire will be allocated to people eligible for social housing. There were 4,144 households on the council’s housing waiting list as of mid-November.

When asked if the program could reduce the supply of housing for other buyers and drive up prices, the council said it was looking for expressions of interest regarding developments that have not yet started. .

The plan provides “financial certainty, to facilitate the provision of much-needed affordable and social housing that might not be developed otherwise,” he said.

The Local Government Management Agency, a public body that provides services to councils, said agreements to purchase an approved number of homes were planned “with payment on completion”.

Comments are closed.