Dublin City Council paid out €40 million to private developers since the start of 2021 to secure 139 residential units for social housing under Part V agreements.
The spend of €15.16 million on 71 homes to date for 2022 follows a €24.96 million outlay on 68 Part V homes in 2021.
The average spend per home by the council is €213,521 this year and €367,058 last year.
The highest amount paid out in 2022 was €450,000 in the Part V system where builders are required to provide a percentage of each development for social housing. A city council spokeswoman said that was spent on a two-bed apartment at St Clare’s Park, Harold’s Cross, Dublin 6w.
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The spending details come as Cairn Homes put an indicative price tag of €39.14 million on the sale of 69 units from its planned Montrose mixed-use scheme for social housing.
The home builder has put an indicative price tag of €683,100 on four three-bed apartments it plans to sell for social housing to the council.
At the time Cairn’s pricing was made public, Sinn Féin Housing spokesman Eoin Ó Broin said that generally, on an annualised basis, Part V provides good value for money for local authorities in home purchases.
“Local authorities have become very adept at ensuring that value for money is secured in the final prices agreed,” he said.
Mr Ó Broin said Cairn Homes’ Part V prices are the company’s “opening gambit” in their negotiations with the council.
He said: “I suspect Dublin City Council will drive a very hard bargain and I hope that the eventual purchase price is much more realistic than the opening gambit by Cairn.”
