In reference to Loan scheme aims to bring vacant homes into use by Paul Melia on 29 June 2017 in Independent.
A possible solution to the shortage of housing in Ireland: a local authority loan could be offered to property owners of vacant housing. This solution came about when it was heard that 80,000 vacant housing was available in high demand urban areas from the 2016 Census. About 100,000 units are vacant in non-urban areas, excluding holiday homes. Data shows Ireland’s vacancy rate is at 9 percent while UK is only at 2.5 percent.
Chairman of the Housing Agency Conor Skehan worries about the impact on Ireland’s competitiveness if the housing shortage issue is not addressed. Affordability is essential to Ireland’s competitiveness and the housing costs drives wage costs so if housing is imbalanced Ireland’s competitiveness may be in trouble.
The one stipulation of this loan is it has to be affordable housing. This could raise the issue to some houses in areas not usually affordable.
This loan, however, can be just what an owner needs to get a …