Disadvantaged Students to be Offered Housing Below Market Rates: What Does it Entail?

In a recent announcement, the government declared that international students in Ireland will be offered housing below market rate to aid in the student accommodation crisis in Ireland. 

These student halls will be offered to international students in Ireland below market rates and in return, the Government will be constructing new accommodation options for the students to reside in. The government is reported to be using taxpayers’ money, i.e. exchequer funds, to combat this student housing crisis Ireland. This will also be the first time that the government will use taxpayers’ money towards building student accommodations in Ireland, with previous projects solely focusing on privately owned housing options.

For the purpose of this project, Irish officials have greenlighted the funding for 1,000 student beds across multiple on-campus locations. Not just on-campus housing, this policy will also repurpose vacant and derelict housing while continuing its backing of homeowners renting their rooms to students.

Minister for Further and Higher Education, Simon Harris highlighted the need to repurpose existing on-campus buildings into student accommodations in Ireland. For the smooth progress of this project, the government is prepared to commit up to €40m in a grant scheme. Higher education institutions would then be urged to rent out these accommodations at below-market rates in return for the State's investment. 

Therefore, if the State funds the construction of 30 beds, then those 30 beds must be rented out to students with households that make less than €100,000 a year. If the State funds the building of all the beds in a new construction, then all of those beds must be rented out on a more affordable pricing plan.

This project has begun its phase one and has already begun working on new constructions of 1,000 beds in key universities such as Dublin City University, Maynooth University, University of Limerick, and the University of Galway with an initial investment of €61 million approved by the government.

Minister Harris’ plans will soon move on to constructing 1,254 beds in University College Dublin, which recently got the State’s approval, 352 beds across Trinity College Dublin and 830 beds in Dublin City University. A major boost for international students in Dublin as well as those planning to move.

The government’s next plans include initiating accommodation projects in these regions, especially the newer universities to reduce the competing students and families for private rentals. State funding is also set to be made available for on-campus and private accommodations, which are ring-fenced for a specific number or cohort of students to combat this student housing crisis Ireland. 

Boosting development and increasing the availability of good quality student accommodations in Ireland is the primary goal of Mr Harris’ new plan. In addition, this will also help improve balanced regional development and create a supply for below-market-rate cohorts of student accommodation through standardised designs.

Stay tuned for the recent developments on the situation with Amber Newsroom. Looking for student accommodations in Ireland or the rest of the world? Check out amber!