Apartment subsidy scheme has spent 70% of budget on just half of its housing target (opens original article in a new tab)

The Irish government's apartment subsidy scheme has spent 71% of its budget on 2,662 homes, which is half of its 5,000-apartment target, with higher subsidies needed due to increased construction costs.

• The €450 million Croí Cónaithe scheme has committed €320 million to 2,662 apartments, which is 71% of the budget for half the target of 5,000 apartments.
• The average subsidy per apartment has risen to €120,000, exceeding the original estimate of €90,000 due to increased construction costs.
• Inflation in construction costs has made many projects unviable, with apartment development costs in Dublin reaching €605,000 and suburban areas at €559,000.