The Government is set to announce an Affordable Housing Scheme for Galway city "in the near future", according to Fine Gael Galway City East councillor, John Walsh.
Cllr Walsh said the Government Budget for 2019 provides "the largest affordability package in more than a decade", through the Serviced Sites Fund being trebled to €310 million between now and 2021. It is understood one of the projects being actively considered by the Department of Housing is a €2.2 million development at Bothar an Choiste, Headford Road, with a potential build of 45 homes.
The councillor said that under the Serviced Sites Fund, houses on city council lands will be built and sold to purchasers at a discount, with the local authority retaining an equity share in the house. The infrastructure investment per home under the fund is being increased to €50,000, with the discount per market price of a house capped at 40 per cent, to be realised through an equity share with the purchaser. The scheme applies to new homes, and for single people earning up to €50,000 and couples earning up to €75,000.
"Increasing the supply of housing is the most important step in improving affordability for people," said Cllr Walsh, "especially as house prices are now understood to be generally cooling."
