More than 2,100 applications have been received for 145 new cost-rental apartments charging rents of up to €1,875 per month in Tallaght, south Dublin.
Delivered by Respond, the approved housing body said the number of applications represents a “very high level of demand”.
It added this demand is “in line with what we are seeing across cost-rental schemes nationally”.
Successful applicants of the first stage of the development, which will ultimately deliver 502 homes, including 289 cost-rental homes, will be chosen through a lottery system.
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The 145 apartments on Airton Road will be offered at rents at least 25 per cent below the average market levels in the area.
The scheme is open to those who do not qualify for social housing, but whose net household income is less than €66,000 a year.
Applications opened for the first stage of the scheme on January 20th, with Respond receiving 2,173 in six days until it closed to applicants on Tuesday.
Rents for the 57 one-bedroom apartments available will be charged at €1,388 per month, while rents for the 76 two-bedroom apartments will be set at €1,613.
The 12 three-bedroom apartments available will be rented out at €1,875 per month.
Commenting on the number of applications received, Respond said it “underlines the level of need for affordable, long-term rental homes”.
“Demand for cost-rental homes continues to be very strong, with interest consistently exceeding the number of homes available.
“This reflects ongoing pressures in the private rental market and the growing cohort of households who earn above the threshold to qualify for social housing but may struggle to pay high market rents,” a spokeswoman said.
An ongoing increase in applications for such schemes also points to “greater awareness and understanding of the model”, she said.
The rents charged are based on the cost of building, managing and maintaining the homes, rather than market demand.
“The model offers long-term, secure tenancies and plays an important role in broadening access to affordable housing and supporting a more sustainable and balanced rental market in Ireland.”
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Noting that successful applicants for the first stage of the scheme will be selected through an independent lottery system, Respond said a randomised list of eligible applicants will be generated and contacted.
“The lottery is run by an independent provider with a full audit trail to ensure equal opportunity and transparency and fairness,” the spokeswoman said.
The cost-rental apartments are being delivered in a wider mixed tenure development of 502 homes, and aim to provide secure housing for individuals and families “priced out of the private rental market”.
Future phases of the Airton Road development are due to open for applications in the coming weeks.
