In what it called the most ambitious housing initiative in the history of the state, Sinn Féin revealed a proposal to build 300,000 houses with the help of €39 billion in housing over the next five years, reports Breaking News.
The paper, titled A Home of Your Own, is around one hundred pages long and outlines the party’s plans to “transform housing” in Ireland in the event that it is voted to power.
According to Sinn Féin, it will phase down current shared equity and subsidy programs, reduce rent subsidies, and build affordable homes for between €250,000 and €300,000.
It also promised to implement a First Time Buyers Stamp Duty Exemption, which will free homeowners from paying stamp duty on properties valued at €450,000 or less, reports Breaking News.
A three-year emergency prohibition on rent rises for both new and existing tenants would also be implemented, according to the party.
In addition to directing state construction and securing the right to a dwelling in the Constitution, Sinn Féin stated that it will assist the four Dublin Local Authorities in establishing a publicly owned building contractor, reports Breaking News.
Leader of Sinn Féin Mary Lou McDonald stated that her party is prepared to put this “ground-breaking” proposal into effect as soon as it is put into power.
Speaking at the launch in Dublin, she added: “We wouldn’t waste a single moment of making transformative change happen in housing. This is a plan that delivers for first time buyers and for all of those who aspire to owning a home of their own, a plan that repairs the private rented sector, ends the rip-off and delivers fair, affordable rents. A plan that gives hope to those living in the box room of their parents, home long after they’ve wanted to strike out on their own. This is a plan that can ensure that our young people can build a successful future here at home. You see, we believe that housing can be fixed,” reports Breaking News.
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