Sinn Féin spokesperson on Housing, Eoin Ó Broin TD, has today revealed the true cost of the government’s so-called affordable homes on the LDA site in Shanganagh as ranging from €478,000 to €550,000.

Teachta Ó Broin said:

“This month, Sinn Féin published our alternative housing plan A Home of Your Own. A key part of that plan is the delivery of 25,000 affordable purchase homes at prices from €250,000.

“Today, the Taoiseach and Minister cut the ribbon at the first LDA development, at Shanganagh Castle in Shankill.

“What the government didn’t say at the launch is that the full price of these so-called affordable homes ranges from €478,000 for a two-bedroom home to €550,000 for a three-bedroom home.

“While the initial purchase price is lower, the state takes an equity share of up to 30% of your home. If you want to own the home outright, you can only pay the equity down in €10,000 lump sums.

“If you don’t buy out the equity your children will have to pay it when they inherit the home.

“Buyers beware, is neither home ownership nor affordable housing. It is overpriced market housing that is unaffordable to the vast majority of working people.

“It confirms once again that Fine Gael and Fianna Fáil are neither willing nor able to deliver affordable homes.

“Only a Sinn Féin government implementing Sinn Féin’s affordable homes plan can deliver tens of thousands of genuinely affordable homes, bringing home ownership back into reach of working people.”

The full price details can be found on the DLR County Council website: https://www.dlrcoco.ie/sites/dlrcoco/files/2024-09/Income%20Range%20-%20Shanganagh%20Castle%20Estate_0.pdf