Construction BUSINESS

Home Building Finance Ireland (HBFI) achieved notable success last year as it greenlit loans amounting to €408 million, elevating its total approvals to an impressive €1.66 billion. Functioning as a State-backed lender for home builders, HBFI revealed that it had successfully financed the construction of 8,495 homes since its establishment, surpassing its five-year target set in 2019 by nearly 1,000 homes.

The lender’s impact has been widespread, contributing to 129 developments spanning 22 different counties. Out of the funded homes, more than 2,800 have already been sold, and an additional 1,501 were contracted for sale by the close of the previous year. HBFI’s achievements now position it to utilize returns from prior investments to further support new developments.

This success prompted the Minister for Finance to extend HBFI’s lifespan after a review identified existing funding gaps in the property market. Looking ahead, another review is slated for the coming year to assess the ongoing role and impact of Home Building Finance Ireland.