Cost Rental Housing

A major Green Party policy that we are putting in place is the cost rental model. In 2021, Ireland saw for the first time, 440 cost-rental homes delivered. These homes have rents up to 30-40% lower than market prices, making this type of residential accommodation affordable. Under the Housing for All strategy the targets for cost-rental units increase from the current number to 2,000 units a year. The Green Party would like to see this target increased further and will be working with our Government partners to address this.

What is cost rental?

Cost rental is high quality modern rental accommodation provided by the state. It is called cost rental because the rent is used to cover the cost of constructing the accommodation over the life of a long-term building loan. This enables the government and local authorities to plan affordable housing in the long term, and to continue to build new housing even during a downturn. The accommodation is mixed use, mixed tenure with diverse communities to work. It has proven to be a very effective way of providing housing in many European countries. The Austrian's have tested this type of housing for 100 years and it now provides decent, secure and affordable accommodation to more than 60% of Viennese residents.