State funding of €750 million being made available to entice private developers into cost-rental scheme
It had been signalled earlier this year that income limits could be extended to households taking in €75,000-€80,000 – equating to a pretax income well above €100,000.
The €53,000 net income limit had been set in 2021 and the new ceilings reflected rent increases over the period as well as inflation and average income increases, the department said. The new Secure Tenancy Affordable Rental investment scheme, or Star, with €750 million to part-fund the construction 4,000 cost-rental homes by 2027, is also being made available from August 1st, to developers who will provide rental accommodation at a minimum of 25 per cent below comparable market rental levels.
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