€18 Million Approved For Development Of Student Bed Spaces At Maynooth University

Monday, 25 August 2025 09:37

By Hannah Kelly

The funding comes from the Housing Finance Agency, which today published its 2024 Annual Report

The Housing Finance Agency (HFA) has reported a significant increase in lending for social and affordable housing, with €709 million of new loans advanced in the first half of 2025.

The HFA is a state-owned body, providing loan finance to local authorities, voluntary housing bodies and higher education institutions for housing and related purposes.

Having today published its 2024 Annual Report, Building Communities Together, the HFA says it has showcased "a year of growth and meaningful impact".

In 2024, the HFA approved €2.1 billion in new financing for Approved Housing Bodies (AHBs), supporting a pipeline to deliver 7,936 social and affordable homes – an increase of 29% from the previous year.

The HFA say that this funding, alongside support from the Department of Housing, Local Government and Heritage, will facilitate the delivery of 5,679 new social homes and 2,257 cost rental homes across 22 counties.

The HFA also continued its support for the Higher Education sector, approving €18 million for the development of 116 student bed spaces at Maynooth University.

Highlights from the 2024 Annual Report include:

€1.3 billion advanced to AHBs and Local Authorities - 32% more than in 2023
4,525 homes delivered - a 17% rise compared to the previous year
€2.1 billion in approvals - representing a 29% increase, enabling 7,936 homes
€18 million approved for 116 university bed spaces
Loan book reached €8.6 billion - growing by a net €1.2 billion over the year

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