State to spend €10m on ghost estates

State to spend €10m on ghost estates

The Government is to pump €10m into a ghost estate scheme so that developers will be more inclined to buy the unfinished homes.

The money will be used to pay for public works such as footpaths, drainage, and roads on estates without a developer bond.

Up to 60% of the schemes, which Public Expenditure Minister Brendan Howlin said in his Budget speech had “left both emotional and physical scars on this country”, remain unfinished.

Meanwhile, Housing Minister Jan O’Sullivan said another €30m, from money raised in the lottery licence, will be used to kickstart the State’s house building programme.

“Approximately half of this investment will enable the construction of new infill developments in areas with the highest demand for social housing. Another €15m will be invested in bringing long-term vacant units back into social use. This will facilitate up to 500 additional housing units between a small number of new builds and the return of previously uninhabitable units to the housing stock,” she said.

According to the Ms O’Sullivan, up to 4,500 social housing units will be provided for next year through leasing and existing capital programmes.

These include completion of mortgage-to-rent arrangements, the continued transfer of NAMA units, the completion of existing building and acquisition programmes and transfers under the rental accommodation scheme.

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