Hundreds of millions of euro is being spent on developments geared towards the private rental sector, like this one at Green Acre Grange in Dundrum, Dublin. A Government agency set up to boost lending to small house builders is now ploughing tens of millions of euro into developments being constructed for cuckoo funds. The State’s Home Building Finance Ireland (HBFI) was formally launched in 2019 to provide loans to small building firms that lacked the equity to get loans from banks or other private sector lenders. “If HBFI does fund certain PRS schemes, it must ensure that it can continue to fund its core products so that funding continues to be available for all viable schemes,” she noted. Funding of €300m has been made available to that fund “for a limited period”, noted the HBFI review.

Source: Irish Independent May 11, 2021 01:30 UTC