Just 8,000 houses built last year offered for sale on open market, says CIF

19 of February, 2020
Filed under: Latest News

Only about 8,000 of the 21,000 new homes built in the Republic last year were offered for sale on the open market, according to the Construction Industry Federation.

The federation, which represents most builders, says that the State acquired at least 4,400 new homes for social housing, while investment funds bought 95 per cent of the 3,644 apartments completed here last year.

As a consequence, the federation says that many people seeking to buy their first home “continued to find themselves locked out of the market”.

The Republic’s housing shortage was a key issue in this month’s general election.

Sinn Féin, now the second biggest party in the Dáil with 37 seats, pledged to complete the largest public housing building programme in the history of the State if it got into government. And to freeze rents for three years.

Of the 21,241 homes completed last year, the CIF says that official figures show 5,068 were one-off houses, which are mainly built by their owners and not offered for sale. Most of these would be built in rural areas.