Sinn Féin has unveiled a five-year A Home Of Your Own plan to build 300,000 homes at a cost of €39 billion.
As part of its plan, the party said it will build affordable homes through the state retaining ownership of the land on which the house is built.
It means that an affordable home purchaser would own their home but not the land on which it is built.
Sinn Féin’s new housing plan has been slammed as a “Frankenstein-style arrangement” by Simon Harris.
“I think there’s a reason why they call the document Home Of Your Own rather than home you own, because the kind of Frankenstein-style arrangement here, in terms of what exactly is the model,” Mr Harris said.
“So are we talking about a situation now where you can own a home, but you won’t own the land on which the home is built?
“We’re going to have a house now that you think you own, you won’t own the land on which it’s built, and then when you go to sell the house, do you kind of need Eoin O Broin’s permission? Who can I sell it to? How much can I sell it for? When can I sell it?
“This is a long way from the home ownership model that is ingrained in people in this country.
“Four and a half years into the Dáil term, with a general election due by next March, the main opposition party have decided to publish a housing policy. I welcome that, but there are a lot more questions than there are answers.”
Sinn Féin said it will phase out existing subsidies and shared equity schemes as well as reducing rent subsidies and delivering affordable homes between €250,000 and €300,000.
It also pledged to introduce a stamp duty exemption for first-time buyers, which will see house buyers not paying stamp duty on a property valued at €450,000 or less.
