Home Building Finance Ireland commits €114m to build 616 new homes in its first year in business

Main points:

  • €114m approved in new funding to deliver 620 new homes
  • 22% of total HBFI funding (€25m) being deployed for 150 new social housing units for Local Authorities and Approved Housing Bodies
  • These 150 social housing units are in addition to the social housing units delivered under Part V in other HBFI developments
  • 18 new developments being funded in 12 counties
  • Developments range in size from 10 to 79 units, with an average size of 34 units
  • Loan facilities range in size from €1.3m to €18m, with an average size of €6.4m
  • The first HBFI-funded development (in Co Kildare) was completed in December 2019

The full update is available here.

HBFI CEO Dara Deering said:

HBFI was set up to improve the supply of new homes – for buyers, renters and people who need social housing. We are off to a strong start in our first year by funding the building of 616 new homes, including 150 social housing units, but we have a lot more to do.

We have actively engaged with the public and private sector to better understand the issues faced by housebuilders to make sure we can help address market needs. Housing solutions have to align with demographics and with our society’s housing needs. Social housing is a very real and pressing requirement and we are delighted to provide funding that directly increases the supply of homes for people who need them”.