Sir, – It was with much dismay that I read "Housing debate dominated by irrational solutions and nonsense private sector critiques" by Pat Farrell, chief executive of Irish Institutional Property (November 15th). This piece (perhaps unintentionally) raises some crucial points in the housing debate.
Farrell claims the high proportion of one-bed units in build-to-rent schemes are for “young professionals”. This admission is refreshing, as it dismantles the bluster around build-to-rent being for any other purpose. Build-to-rent is a niche form of investment housing, designed to take advantage of a “young and increasingly internationally mobile workforce” – to borrow terminology from the government’s “Design Standards for New Apartments (2018)”. Like co-living, it relies on high-rent enclaves, targeted primarily at this high-income demographic. One wonders how the peddlers of this investment asset are surprised by the recent increase in scrutiny.
Criticism of experimental rental-only neighbourhoods is painted by Farrell as “attempts to strangle supply”. This seems an effort to obfuscate legitimate concerns. Similarly transparent is the dog-whistle argument for funds to take advantage of the Housing Assistance Payment (HAP) in such schemes. “Institutional investors do not discriminate against HAP recipients and nor should they,” he states. Nor should they indeed, when our Government has effectively outsourced supply of social housing through HAP and leasing arrangements, delivering funds a healthy return on investment, guaranteed by the exchequer.
The housing debate is surely dominated by irrational solutions and nonsense, unfortunately that’s Government policy. – Yours, etc,
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ROB CURLEY, MRIAI
Maremoto Architects,
Drumcondra,
Dublin 9.