Social housing lease scheme to cost State €372m over 25 years

Under the Enhanced Long Term Social Housing Leasing Scheme, leases are agreed up to 95% of the market rent, but there are built-in reviews every three years. iStock

The State will spend close to €400m over the next 25 years renting homes that will then be handed back to institutional investors.

The homes fall under the Enhanced Leasing Scheme, introduced in 2018 to ramp up the delivery of social housing.