Brian Hayes MEP for Dublin today welcomed a €300 million programme for Social Housing in Ireland part-financed by the European Investment Bank (EIB), saying that this could be important in tackling the serious shortage of supply of housing in Dublin.
“Supply of housing is a major issue in Dublin at the moment and has been a major factor in driving up prices. The government’s social housing strategy which aims to bring 35,000 additional social housing units into the market by 2020 will make a difference. But we have been to slow to react to the increase in demand in Dublin and we are now left with a housing market which has flawed structures and is vastly undersupplied,” said Mr. Hayes.
“This new Social Housing Programme, part-funded by the EIB and managed by the Housing Finance Agency, will provide a significant boost to the housing market in Dublin. The EIB has confirmed that the majority of work will be done in Dublin and they expect the programme to generate over 2,000 social housing units across the country.”
“The housing market will be a major issue in the coming years and this programme as well as the government’s social housing strategy is a step in the right direction. We can look to other EU countries such as the Netherlands and the UK who have spent a long time developing effective social housing models, particularly by taking advantage of EIB funding programmes,” concluded MEP Hayes.