Ireland has major plans for investments in the housing sector


Ireland will allocate 200 mln. euros to a special fund for investment in infrastructure to promote housing construction, reported the online edition

The fund will concentrate its activities to benefiting the areas in big cities suitable for housing. The aim is thus to promote the construction of 20 thousand new homes by 2020.

The country’s government also announced a housing action plan worth 5.35 billion euros. The funds will be used for the construction of 47 thousand social housing units by 2021.

Authorities in Ireland as well foresee changes in urban planning so that residential projects to be approved under an accelerated procedure. Large projects with more than 100 homes will be able to directly apply for approval to An Bord Pleanala – the national independent structure in urban planning.

This council will have the right to prioritize the giving of approvals, as that will happen over a period of 18 to 20 weeks. Considered is the possibility for the computerization of the process.

The plan envisages measures in support of the rental sector and its stabilization. Also, there are foreseen measures for housing students outside university campuses.

Housing Agency of Ireland will receive 70 mln. еuros with which to acquire suitable portfolios of uninhabited properties that can be rented. In this regard, it’s planned to be registered all available properties in the country. Considered is the transformation of empty office buildings into housing.

About the Author

Martina T.
Martina Terzieva is a content writer for Business News Feeds. She likes to dig deep, find the most interesting things that happen and share them with the world. Besides news, Martina writes poetry, she's also a musician and a sound engineer.

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