New schemes testing affordability limit with some units in Dublin costing up to €1,775 a month for three-bed property
The cost rental scheme is aimed at workers who earn too much to qualify for social housing supports, but who cannot afford open market rents. Photograph: Gareth Chaney/CollinsMore than 1,000 prospective tenants applied to rent the 25 homes on offer in the newly-built Taylor Hill estate in Balbriggan. The big draw? The level of rents.
The scheme is aimed at workers who earn too much to qualify for social housing supports, but who cannot afford open market rents. The current household income limit is €66,000 after tax.. They include stipulations such as the available property must match the household’s size, applicants cannot be in receipt of any social housing supports, including rent supplement or housing assistance payment , they must not own a property, and must be able to afford the rent.
Cost rents for O’Devaney Gardens, the estate currently under construction near the Phoenix Park in Dublin city centre are expected to be higher still. While the scheme is not due for completion until 2026, rents of €1,895 have seen put forward for a three-bed, which under current limits would mean only those earning between €64,971 and €66,000 would qualify.
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