Dáil Éireann Debate, Thursday - 22 June 2023
140. Deputy Alan Dillon asked the Minister for Finance his perspectives on the report concerning the factors influencing the cost and accessibility of finance for residential development; and if he will make a statement on the matter. [30207/23]
View answerThe Department of Finance, through the Housing for All Investment Workstream, commissioned a report on the drivers of the cost and availability of finance for residential development during 2022.
The key findings from this Report in relation to funding is that there has been reasonable availability of both debt and equity for viable residential development.
However, increasing global macro-economic headwinds in 2022 have created a differentiated landscape for apartment and housing development. There remains reasonable access to capital for housing development, but availability of funding has been significantly curtailed for capital intensive apartment development.
The report finds that, in general, the Irish developer community remains equity constrained since the aftermath of the Global Financial Crisis and securing equity is key to unlocking the overall finance required for construction.
The findings and recommendations from this report are being explored through the Housing for All Investment Workstream.
