A government subsidy scheme is set to help deliver more than 1,000 new student beds in Ireland after pledging €61M in investment.

Minister for Further and Higher Education Simon Harris first announced in November 2022 that the government would intervene in the provision of student accommodation.

Figures from the Department of Further and Higher Education show that the state has earmarked up to €61M in capital and funding to unlock the development of 1,072 beds for four universities.

The money will add 405 new beds for Dublin City University, 309 for the University of Limerick, 242 for the University of Galway and 116 for Maynooth University.

However, none of the approved units will be ready for the current academic year, with the first rooms available in 2024 at the earliest.

University College Dublin, University College Cork and Trinity College Dublin are also being considered for assistance as part of the scheme.

“The goal is to make sure that priority-group students attending colleges and universities in Ireland can find affordable places to live while they study. This policy is the first time the State will provide money to build accommodation on campus, which also supports the Government's Housing for All plan,” the state said when it announced the support package.

The decision to provide financial support was made because of the acute shortages in the sector, as Bisnow previously reported.

The priority was to activate projects that had planning permission but had stalled because of rising construction costs and financing issues.

The department is also developing a long-term policy — originally due to be published in June — regarding state support for the supply of student accommodation, and there are plans to develop accommodation for seven technological universities: Atlantic Technological University, South East Technological University, Munster Technological University, Technological University Dublin, Technological University of the Shannon, Institute of Art Design & Technology and Dundalk Institute of Technology.

Many of these do not have on-campus student accommodation, partly because of previous legal obstacles that have prevented them from borrowing money.