Dáil Éireann Debate, Tuesday - 8 February 2022
129. Deputy Pádraig O'Sullivan asked the Minister for Further and Higher Education, Research, Innovation and Science the steps that have been taken to tackle the student accommodation crisis; and if he will make a statement on the matter. [6388/22]
View answerI am very conscious of the challenges faced by students in relation to student accommodation, and my Department and the Department of Housing, Local Government and Heritage are working closely together to address these issues. This remains very much a priority for my Department.
An important element of this is ensuring that higher education institutions have access to low-cost financing. Since 2017, the Housing Finance Agency has approved a total of €157 million in loans, to support the provision of more than 1,400 new student bed spaces across three universities.
Last Summer, together with Minister Donohoe and Minister O’Brien, I announced that €75 million of financing had been successfully sourced for the Council of Europe Bank for the building of student accommodation in universities.
The Government has also taken measures to address affordability and rent increases. Rent increases in student accommodation are capped under the Rent Pressure Zones. Legislation passed this year restricts the amount that students can be required to pay up front for their accommodation, ending the practice whereby students were required to pay a lump sum up front each term, often in the range of €2,500 to €3,500.
However, fundamentally this challenge is one of supply and we need to increase the supply of all types of housing and accommodation, including student accommodation.
That is why the Government has launched Housing for All, led by the Minister for Housing, Local Government and Heritage. This sets out a series of actions which will be delivered to fix the housing crisis. The plan is backed by the largest ever housing budget in the history of the State to transform our housing system, in excess of €20bn.
Housing For All contains a commitment to support technological universities to develop purpose-built student accommodation where such a requirement exists, through access to appropriate financing.
The development of PBSA by technological universities would lead to an increased supply of student accommodation and improve technological universities offering to prospective students. My officials are working with colleagues in the Department of Housing, Local Government and Heritage and Department of Public Expenditure and Reform to progress this commitment.
