Sinn Féin Pledges €39 Billion Investment In Housing

Sinn Féin has announced a bold plan for up to €39 billion investment in housing over the next five years. This ambitious proposal is part of their new housing policy, “A Home Of Your Own,” which will be officially launched today.

(Also read Thousands Potentially Overcharged in Suspected Car Sales Scandal.)

Between 2025 and 2030, 300,000 dwellings are to be built according to the plan. It’s referred to as a drastic departure from the present government approach and a major reset of housing policy.

Sinn Féin pledges an average annual investment of €7.8 billion to accomplish this. Over a five-year period, 125,000 social and affordable homes will be constructed with this.

An additional €2 billion is earmarked to acquire 7,500 more homes. The plan also includes measures to deliver 115,000 private homes and 60,000 rental and self-build properties.

Sinn Féin Proposes Investment in Housing with Faster Planning, Developer Loans, and Rent Freeze

Faster planning decisions and low-cost developer loans are two major adjustments meant to lower early-stage financial concerns. Local authorities would gain more autonomy in housing delivery.

There are plans to include a publicly owned construction company for the councils of Dublin. To obtain additional zoned land, the Land Development Agency would undergo change.

In addition, Sinn Féin suggests a three-year moratorium on rent hikes and a stamp duty exemption for first-time purchasers.