8th February 2021 | Housing, Press Releases

Green Party welcomes approval for Ireland’s first Cost Rental homes


The Green Party has welcomed the announcement that approval has been granted for Ireland’s first Cost Rental homes, delivering on a key commitment in the Programme for Government.

Green Party Spokesperson for Housing, Francis Noel Duffy TD, commented:

“For the first time ever, we are seeing the State develop a rental scheme that will make homes available to rent at 25% below market price at minimum. The Cost Rental model is a Green Party policy we have long advocated for, and which was negotiated and secured in the Programme for Government.

“It is effectively affordable, high-quality rental accommodation, provided by the State or local authorities. In the long-term, the delivery of cost-rental homes will drive rent prices down and allow new housing to be built even during a downturn. It has proven to be a very effective way of providing housing in many European countries and I am excited to see this model come to Ireland.”

Cost Rental is a model where rents are charged to cover the costs of construction and managing the homes, making housing available for below market rates. In Budget 2021, €35 million was made available to Approved Housing Bodies (AHBs) for Cost Rental projects, and approval was given today to Clúid, Respond and Tuath for a total of 390 cost rental homes across Dublin and Cork. Financing of up to €100m has also been made available to support schemes approved under this measure by the Housing Finance.