A Sinn Fein TD has blasted the Government’s housing strategy after it was revealed hundreds of luxury properties across Dublin are lying vacant.
The party’s Housing spokesperson, Eoin O Broin, was commenting following an article in this week’s Sunday Business Post which found that some recently developed apartment blocks – which are charging rents of between €2,000 and €10,000 a month – have a large number of vacancies.
The fact they are lying empty despite a chronic shortage of rental stock is evidence, according to Deputy O Broin, that the previous government’s housing policy failed.
He said: “The article in the Business Post by Killian Woods highlights how the Government’s mantra that supply, supply, supply is the answer to the rental crisis is simply not true.
“This is something that was highlighted since the launch of Rebuilding Ireland by myself, academics and practitioners.
“Increasing supply alone is not the solution.
“Especially since that supply is not affordable.”
Analysis of the Residential Tenancies Board by the Business Post shows that in one of the largest city centre developments, the 22-story Capital Dock, 100 of the 190 apartments were empty last month.
Rents in Capital Dock range from between €3,500 to €10,000 a month, putting them out of the price range of most Dublin renters.
Deputy O Broin said: “To date, what has been delivered is very little of the right type of accommodation, and what we have is build-to-rent, student accommodation, and hotels.
“The previous government’s [housing] policy – aided and abetted by Fianna Fail – has not lead to any increase in affordable accommodation.
“In fact, no affordable homes have been delivered, to date.
“The incoming government must urgently change the direction of [housing] policy and prioritise the roll-out of affordable cost-rental accommodation.
“The market will not provide housing at affordable costs for the majority of people,” said Deputy O Broin.