Sinn Féin has unveiled a detailed affordable housing policy document outlining plans to provide two-bedroom starter homes in Dublin for approximately €300,000 or less.
The document, “Bringing Home Ownership Back Into Reach For Working People,” was presented by party leader Mary Lou McDonald, Housing spokesperson Eoin Ó Broin, and Rural Development spokesperson Martin Kenny.
The plan proposes a scheme offering affordable purchase options for households with gross incomes up to €90,000. Homes under this scheme are expected to be priced between €250,000 and €300,000, depending on size and location.
Additionally, the policy suggests cost-rental options of €1,000 per month or less for households with net incomes up to €66,000 in Dublin and €59,000 elsewhere.
Sinn Féin claims that the reduced home prices are achievable because the houses will be constructed on state-owned land, with the state covering land-related costs and retaining ownership.
The policy specifies that homes purchased under this scheme cannot be sold on the private market but must be resold within the affordable housing framework to ensure ongoing affordability for future generations.
Ó Broin emphasized that this policy creates two separate markets: the private market and the affordable purchase market, with the latter designed to maintain long-term affordability.
Purchasers will also have the right to pass their property on to their children and subsequent generations.
Sinn Féin’s broader housing strategy includes plans to build 50,000 affordable homes for purchase or rent and 75,000 social homes over the next five years.
The announcement follows previous controversy surrounding McDonald’s remarks on housing prices. Last year, McDonald was criticized by Fianna Fáil and Fine Gael for suggesting that Dublin home prices should be lower. She clarified that the €300,000 figure referred to the proposed affordable scheme rather than the general housing market.
Ó Broin stated that increasing the supply of new homes would eventually lower overall house prices, though the exact impact remains uncertain.
Criticism and Government Response:
Housing Minister Darragh O’Brien responded to Sinn Féin’s proposals by raising concerns about the plan’s viability and inclusivity. O’Brien described the scheme as “exclusionary” due to its income caps, noting that some professionals, such as Gardaí and teachers at specific salary points, would not qualify.
He also questioned whether Sinn Féin would maintain or abolish existing housing support measures like the Help-to-Buy grant and various refurbishment schemes.
O’Brien criticized the policy for potentially creating uncertainty and deterring investment in housing supply. He called on Sinn Féin to address these issues and clarify its position on several key housing policies.
During the press conference, Ó Broin responded to inquiries about the Minister’s critique, reiterating the party’s commitment to its housing strategy and emphasizing the need for innovative solutions to address the housing crisis.
