Dáil Éireann Debate, Tuesday - 22 March 2022
244. Deputy Eoin Ó Broin asked the Minister for Finance the details of all loans approved and drawn down and projects funded in tabular form; the number of units in each project; and the average cost to purchase or rent one of these units funded through Home Building Finance Ireland. [14358/22]
Amharc ar fhreagraHome Building Finance Ireland was established to increase the supply of new homes for owner-occupiers, renters and social housing by providing funding on commercial terms to housebuilders for commercially viable developments throughout Ireland. To December 2021, HBFI has approved funding of €835m across 71 projects in 18 counties. This funding will support the building of 3,729 new homes.
Drawdowns have already taken place in respect of 57% of the facilities approved at end December 2021, with construction in progress or completed. There is a lag between funding being approved and it being drawn down, with funds being drawn over the duration of the project.
Information on individual loan facilities is commercially sensitive and cannot be disclosed. HBFI like any lender has confidentiality obligations to its borrowers.
I am informed that 43% of all homes funded are for owner occupiers, 30% for renters, 23% for social housing and 4% for Part V. In line with the market, 96% of homes being built for Owner Occupiers are houses and 4% apartments. In the case of renters, 98% are apartments and 2% houses.
HBFI provides funding for the cost of the construction of new homes. The average sales price expected when the homes are built and sold individually on the market is €319k. Homes that are being built for private rental are sold in bulk when completed and HBFI’s loan is repaid. Therefore, HBFI does not have any ongoing exposure to the rental market.
