The economic recession in Ireland in 2008 reduced the level of housing completion in the country, leading to housing shortages in urban areas. The lack of new housing supply has led to increases in prices, combined with strict mortgage conditions, leaving many ineligible for home ownership. Accordingly, the demand for long-term lease increased led to escalating rent. This increased the number of people in need of government support to afford a house.
The Irish Government has launched an “Enhanced Lease” long-term rental program. Accordingly, new projects in the social housing program will be re-leased by the government for 25 years and pay 95% of the rent in advance to ensure the supply of housing for people with low income.
Social housing project phase II
Social housing project phase II includes four new locations: Broombridge, Old Navan Road, Clonliffe and Old Kilmainham.
Characteristics of the project:
- Including 186 high quality apartments.
- The project is close to the city center and traffic routes.
- Investors will benefit from rental income and property price increases after 2 years. The project guarantees the payback for Irish immigrant investors.
As a developer who has successfully implemented many Irish Immigrant Investor Program social housing and nursing home projects, Bartra has extensive experience and expertise in Irish immigration and investment. The Irish Immigrant Investor Program (IIP) has helped hundreds of families immigrate to Ireland, with an application approval rate of 100% and a renewal rate of 100%.
The Irish Immigrant Investor Program
The Immigrant Investor Programme (IIP) was introduced by the Irish Government in 2012, to encourage investors and business professionals from outside the European Economic Area (EEA) to avail of opportunities of investing and locating their business interests in Ireland and acquire a secure residency status in Ireland.
Benefits of program
- Investors, spouses and single children under 24 years old will receive a residence card, free to work, live and study in Ireland.
- Fast approval in 4-6 months.
- Approved first, invest later.
- The only EU country whose citizens may live and work freely in the UK.
- Investors will have the opportunity to become citizens of the EU.