Ireland should develop a widespread cost-rental system to deal with the country’s shortage of affordable homes for tenants, a housing expert has said.
The country needs approximately 47,000 new homes every year for the foreseeable future, according to a report published yesterday by Ronan Lyons, an economist at Trinity College Dublin.
The report, commissioned by Irish Institutional Property (IIP), a group which represents property investment companies, said multiple factors, including the shrinking average size of households and an expected rise in population, were driving up the demand for new homes.
It said that cost-rental, a method of development where rent levels are set aiming to just cover building and maintenance costs and provide more affordable homes, could be one of the best ways to address
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