The new Enhanced Long-term Social Housing Leasing Scheme, which has been launched in Dublin, is just one of a large number of actions being taken to implement Rebuilding Ireland, the Government’s Action Plan for Housing and Homelessness.

Details of the enhanced scheme for long-term leasing of private dwellings for social housing, announced by Minister of State with Special Responsibility for Housing and Urban Development, Damien English TD, will contribute in a significant way to meeting the Government’s ambition to secure 10,000 leased units over the course of Rebuilding Ireland.

It will allow the private sector to invest in providing properties that can be leased to local authorities for use as social housing on a long-term basis for up to 25 years. This new leasing arrangement will be in addition to existing lease arrangements which are more suited for smaller-scale providers of existing properties. There will be no additional costs to the Exchequer as costs will be met from existing budgetary allocations for Rebuilding Ireland.

The Department of Housing, Planning and Local Government, together with the National Development Finance Agency (NDFA) as financial advisers to the Department, and the Housing Agency, have worked together closely in order to finalise the details of this new scheme. The initiative will target newly-built or yet-to-be-built houses or apartments for leasing to minimise competition with existing stock.

Minister English emphasised that this was only one of a wide range of mechanisms being used to achieve the social housing targets in the plan. “Combined with other recently announced initiatives and the additional measures announced under Budget 2018, Rebuilding Ireland continues to provide a robust framework to address the housing and homelessness challenges. Our focus will remain firmly on implementation and delivery to ensure that the range of objectives and targets set out in Rebuilding Ireland are achieved,” he said.