Ryanair: Airline buys homes in new Dublin housing estate to provide accommodation for its cabin crew

Ryanair has bought most of the homes in a new estate close to Dublin Airport to rent them to its cabin crew in a move that has gained much criticism. The airline had previously signalled that it would consider buying homes to rent them to staff because a lack of affordable accommodation was preventing its ability to hire flight crews.

The airline confirmed on Thursday (25 January) that it had bought “25 new-built units in Fosterstown, Swords” to provide affordable rents for new cabin crew in Dublin Airport. In a statement reported in the Business Post the airline said: “This accommodation, which is located one bus stop from Dublin Airport, will be rented at affordable rates to Ryanair cabin crew during their first year of employment.”

A Social Democrats TD has slammed Ryanair’s purchase. According to the Irish Mirror, the party's housing spokesperson and TD for Dublin Bay North, Cian O'Callaghan said the Irish government is “presiding over a dysfunctional housing system that rolls over for giant corporations but offers little hope to ordinary people.”

He added: “They have already failed to stop funds snapping up homes in housing estates. Now, their housing plan has resulted in Ryanair bulk-buying new homes. What will happen to supply for first-time buyers if other large companies follow Ryanair's example?”.

The Irish Independent reports that local Independents4Change councillor Dean Mulligan said Ryanair bought the houses “the same way a vulture fund would buy them”. He said many couples and young families in the local area were on a waiting list for the site and “waiting for an estate agent” to contact them.

Swords is a popular location for house buyers because it is close to the airport as well as other big employers. The new estate is about 3.5km from the airport and a 20-minute drive to Dublin city centre.

Family homes in the area sell for €350,000 to slightly more than €400,000 while renting a room in a house in the Swords or north Co Dublin area could vary between €600 and €800 a month. The company did not indicate what rents it would charge but said they would be affordable which indicates it may offer a discount to current rates.