Few new rental homes being built

Housing corporations are expected to build 12% fewer new homes to rent over the next five years, according to research by the national housing fund CFV.

In particular, building in key urban renewal areas is under pressure, the organisation says.
The CFV says housing corporations have less to spend because property maintenance and management is more expensive and they now have to pay corporation tax – put at a total €500m this year.
Higher costs cannot be passed on to tenants because rent rises are pegged to inflation.
Housing minister Eberhard van der Laan is to respond to the report on Wednesday.

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