Microsoft has committed to spend $500 million dollars on affordable housing in the Seattle region of the US.
The tech company has been based in the Puget Sound region since 1979.
In the last 8 years jobs in the region have grown 21%, while growth in housing construction has lagged at 13%.
Microsoft says their investment will be in the form of loans and grants to accelerate the construction of more affordable housing across the region.
Housing prices have surged 96% in the past eight years, making the Greater Seattle area the sixth most expensive region in the United States.
The tech company - which has been based in Ireland for more than 30 years employs over 2,000 people here - and opened a new €134 million euro campus in South Dublin last year.
Yesterday the CSO published figures revealing Dublin residential property prices have risen 96.1% from their February 2012 low.
