Members of the Cabinet will discuss the Affordable Housing Bill being brought forward by minister Darragh O’Brien.
The Bill has been criticised by aspects including its shared equity scheme for first-time buyers. The Housing Minister said the bill has “affordability measures at its absolute core”.
O’Brien said the bill has four major aspects:
- Scheme of direct State-built affordable homes
- National cost-rental scheme
- Shared equity scheme for first-time buyers
- Extension to setting requirement for all new developments to have 10% social and 10% affordable housing
Minister for Housing Darragh O’Brien has said this new Bill will help deliver up to 6,000 affordable homes on State lands within four years.
The first scheme under the Affordable Housing Bill being introduced by Mr O’Brien is expected to see 50 homes completed in Co Cork this year.
Furthermore, there will be 414 new cost rental tenancies in place this year.
The legislation will require 10% of social homes and 10% of affordable homes in housing developments in every local authority area.
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