The National Asset Management Agency (Nama) has agreed to make available 2,000 properties for people on social housing lists.
The announcement was made by Minister for the Environment Phil Hogan earlier today.
The housing will be made available for use through leasing arrangements with local authorities and housing associations.
The properties are equivalent to about 20 per cent of Nama's total residential portfolio.
Nama has also agreed to put more properties on the market and to set aside additional funding for uncompleted housing properties.
"The agreement to provide 2,000 units is one of the largest housing allocations made in the history of the State and is a welcome Christmas boost to those most vulnerable in society.‘ said Mr Hogan in a statement.
The Irish Times revealed earlier this year that the Government was considering plans to amend legislation that would oblige Nama to deliver more social housing and public amenities.
The agency has purchased some €31 billion of loans connected to thousands of residential properties – loans valued at over €72 billion at the height the property bubble.
The latest figures show that a record high of 98,000 people are on the social housing list.
