HBFI reaches €3.78bn in loan approvals for home building - Business Plus

HBFI reached €3.78bn in loan approvals for home building, extending support aimed at filling financing gaps for Irish developers. Home Building Finance Ireland (HBFI) said it has approved loans totaling €3.78 billion to date, up 14% from the €3.32 billion figure at the end of last year. The agency targets areas where the market leaves shortages, particularly for SME homebuilders and firms dealing with equity constraints. As of end-June, HBFI approved funding for 19,399 new homes across 256 developments in 25 countries, a 17% rise from December’s 16,558 homes. The update followed research indicating 90% of Irish homebuilders deliver fewer than 50 units per year. HBFI also reported that 80% of approvals target SMEs seeking €20m or less, and 87% of loans cover more than 65% of project costs. Drawdowns reached €2.755bn (73%) for 168 developments involving 15,610 homes, with average facilities of €14.7m over 23 months.