State will bulk buy apartments, confirms Michael McGrath

Big developers have called on the Government to give them subsidies up front at the start of the development cycle to secure finance. File picture: Denis Minihane

Finance Minister Michael McGrath has said the State will enter new arrangements to bulk buy apartments in a bid to accelerate housing construction.

It comes after Taoiseach Leo Varadkar held a housing conference with charities, approved housing bodies and developers earlier this week to hear suggestions on how the Government could help ease the worsening crisis.