British agencies may buy ghost estates
It could see foreign housing agencies buying up such properties and providing them for social housing.
It is estimated that there are more than 2,800 incomplete or ghost estates here.
It is hoped any agreement with British as well as Irish housing agencies would save taxpayers’ money.
Former housing minister Michael Finneran and his officials last month met housing representatives in London.
The state agency charged with co-ordinating housing with the department and local authorities confirmed it also attended the London meeting. The Housing and Sustainable Communities Agency (HSCA) also said there had been inquiries from investors in Britain and elsewhere who were considering investing in social housing here.
Proposals would see the department or local authorities pay rent to foreign as well as Irish housing agencies after the property has been bought. The rent could be guaranteed for a set number of years.
The agencies would be paid 92% of the market rent value as well as a rent from the social housing tenant.
Housing agencies would be expected to borrow and source their own finance, therefore saving costs for the taxpayer where social housing is essentially bought and provided by non-state groups.
The HSCA yesterday said: “The use of vacant properties for this initiative would help build communities in some of the unfinished estates and it presents an opportunity to improve integration by providing small numbers of social housing properties across a large number of estates.”
According to reports, British housing agency Places for People is considering buying empty properties here in return for quarterly payments that could be guaranteed for 20-25 years.
But leading Irish housing association Respond yesterday expressed concern that a minister and a state agency had searched abroad for social housing investors.
Respond said there had been a minimal take-up in agencies here buying ghost estate properties for social housing because of the failure to make minimal changes to schemes, which left agencies faced with having to borrow millions of euro.
