Do children inherit their parent's social housing?

[Purple]

Hmm...a fundamental flaw in my thinking, fair enough. So how to get around this?

The State builds a property complex of 50 units of two and three beds, to be designated as rental properties.
The State requests tenders for the property management of the State. Using set criteria for minimum standards of accommodation, set rent reviews, increases etc the State licenses the property management to the most competitive tender that also meets the required standards.
Unlike REITs who I assume are buying properties at market rates only to let out properties at market rates, these houses will be leased to the most competitive tender which will be able to be priced below current market prices and still profit.
See, its not State setting the price now, but the investor themselves. That wasnt hard to solve, was it?

I would support anything which allows houses to be built while discouraging private investment in property development (or, in reality, property speculation). WE should be encouraging investment in enterprises which product internationally traded goods and services as these are the only areas which generate real wealth for the nation.
So I like the idea, but I don't think it would work.

 

[Firefly]

The State delivers the build of 50 units for €10m. It then leases the properties to a property management company. Because the State is not in the business of profiteering from its citizens, it only needs the return of the build cost. And because the State is not in the business of planning for retirement, the return of the build cost can be stretched out over 100,150,200 yrs plus.
So using your figures over 150yrs the State licenses the property management to a private company for a charge equal to the build cost €10m divided by say, 150(yrs) for 50units.
It works out at €111 pm. Round it up to €150 and the State will guarantee the cost of structural defects over the period.

The State could simply let out the properties to low-income tenants but its track record of managing properties is questionable at times.

So a private management companies enter a tendering process where they compete on the quality of furnishings, rent reviews, rent increases etc. Providing a minimum standard of accommodation for all lettings.

Seeing as the license fee is €150pm for each unit (compare this to a private landlord charging rent based on a 30yr mortgage of €1000pm) the scope to provide quality accommodation at affordable prices, whilst making a profit is now a real option.
The most competitive tender, based on a number factors but not least competitive rents to be charged to tenants wins.
FTB's who cannot get on the property ladder, workers who are mobile and dont require ownership, workers who are paying extortionate rents will now have a real option as where to live.

I never thought I say it, especially where the economy is concerned, but I think this could be a brilliant idea.

A caveat would be that after 20 or 30 years most houses would need substantial improvements. The costs associated would have to be bourne by either the State (ie taxpayer) or the tenant.

On a related note...with people living for longer and with (presumably) a lot of equity tied up in their PPP and probably lower pensions, I could foresee sale-and-leaseback options being available where you get something like 50% of the house value and get to live there till you kick your clogs and the other party gets the ownership.