Provision of Affordable Housing by Local Authorities or subsidiaries using the Cost Rental Model

After the 2008 financial crisis, Fingal County faced severe housing shortages and rising prices. Despite efforts to counteract this trend, challenges persist. Supported by national policies and funds, Fingal developed a Housing Delivery Plan 2022-2026 to help its fast-growing population access affordable homes. Through a new ‘cost rental’ model, rents were set to cover the cost of financing, building, managing and maintaining units, keeping prices at least 25% under market rates. To strengthen its approach, Fingal decided to collaborate with Helsinki, learning from its successful practices and expertise in housing finance, governance and construction.