The Housing Finance Agency, the public sector body which provides financing to support the delivery of social and affordable homes, saw a "significant" increase in lending for social and affordable housing in the first half of this year.
It said that €709m of new loans have been advanced so far.
The agency said this includes €682m in lending to Approved Housing Bodies (AHBs), which marks a 40% year-on-year increase and resulted in the delivery of 1,901 new homes.
Loan approvals in the first half of 2025 reached €767m, paving the way for the development and delivery of 1,807 social homes and 962 cost rental homes nationwide.
The HFA today published its 2024 annual report "Building Communities Together" which it said shows a year of "growth and meaningful impact".
In 2024, the HFA approved €2.1 billion in new financing for AHBs, supporting a pipeline to deliver 7,936 social and affordable homes - an increase of 29% from the previous year.
This funding, alongside support from the Department of Housing, Local Government and Heritage, will facilitate the delivery of 5,679 new social homes and 2,257 cost rental homes across 22 counties.
Over the course of 2024, the HFA advanced €1.3 billion in financing, supporting the delivery of 4,525 homes - a 17% increase on 2023.
The HFA also continued its support for the Higher Education sector, approving €18m for the development of 116 student bed spaces at Maynooth University in Co Kildare.
The agency's loan book reached €8.6 billion last year - growing by a net €1.2 billion over the 12 months.
The HFA's chief executive Deirdre Collier said 2024 marked a period of substantial growth and achievement for the Housing Finance Agency, with record financing enabling more than 12,000 people to access social and affordable housing.
"That progress reflects the strength of our partnerships with customers and public sector stakeholders and a shared commitment to delivering meaningful outcomes," Ms Collier said.
"Already in 2025, we've seen a 40% increase in loan advances to AHBs in the first half of the year, underscoring continued demand and confidence in our role as a finance partner," she said.
"Our focus remains on supporting our customers in the delivery of high-quality and sustainable housing solutions. Together, we are not just financing housing - we are helping to build communities that thrive, with homes that offer comfort, stability and a sense of connection," she added.
Minister for Housing, Local Government and Heritage James Browne said today's lending figures and housing delivery outcomes for 2024 are "impressive".
"As Ireland's primary source of funding for social and affordable housing, the HFA continues to play a crucial role in advancing the Government’s ambitious housing delivery targets through 2030 and beyond," the Minister said.
"However, if we look beyond the financial metrics, we see that there are thousands of people, who, because of the financing made available by the HFA, will have a safe and secure roof over their heads, living in supportive mixed-tenure communities or modern student accommodation," he said.
"I am also extremely encouraged to see that that 2025 is set to build on this progress, driving even greater impact in the delivery of social and affordable housing across Ireland," he added.
