Monday, 5 April 2010

Meath county council to lease social housing from property owners

Nama may have found its first customer for the ghost estates across the country.

Meath county council last week announced it would enter into lease agreements with property owners for social housing for between 10 and 20 years. The long-term certainty of income would be attractive to the toxic loan company but would also attract the attention of developers with empty units.

The council said it would also be interested in buying a small number of two-, three- or four-bedroom houses for allocation to applicants on the social housing waiting list. However, it will not buy apartments, according to a tender on the e-tenders website.

"Priority will be given to purchases of houses in areas of greatest need, including Navan, Ashbourne, Dunboyne, Laytown/ Bettystown, Stamullen, Dunshaughlin, Duleek, Kells, Trim, Slane, and Oldcastle," it said.

The council said it will consider whether the proposed sale price reflects excellent value for money measured against current market valuations in the area as part of the process.

Meanwhile, it emerged last week that up to 2,100 housing units assigned for affordable housing could be empty by the end of the year. Already 1,100 remain unsold and another 1,000 are coming on stream this year.

Sunday Tribune

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