Montreal non-profits are buying up apartments to keep rents Low. Any organisations doing something similar in Ireland?
Montreal non-profits are buying up apartments to keep rents Low. Any organisations doing something similar in Ireland?
8 comments
Yes, they are called approved housing bodies.
Is our issue not that there is very little supply so there’s nothing to be bought up to rent at lower costs?
Peter mcverry will apparently bid well over asking to keep their people in whatever rented accommodation. Not particularly helpful to the wider situation though
https://www.gov.ie/en/publication/53ab7-approved-housing-bodies-ahbs/
Well, there’s those people squatting in Eden Quay who say they’ll go on to squat on more empty buildings
Not directly related but I did read that in some towns they set up a trust to buy shops on main streets that can’t get renters and then renting them out at lower rates. Not sure how successful it but sounds like a decent idea.
Yes. AHB’s are currently the largest buyers of new housing stock in the state. They are real “Vulture funds”.
I mean there’s a “crise du logement” here in Montreal too, so I’m not sure how effective acts individual non-profits will be
to a systemic issue —although the crisis is nothing on the scale of Ireland (there’s not a rental crisis, for example). That said, Montreal has a similar but much better version of our Part V, as for every new development in the city over a certain number of units, a certain amount has to be affordable, a different portion has to be social, and another portion has to be for housing COOPs.