Dublin: The cabinet has approved three schemes as part of a special package to speed up the construction and supply of houses and apartments in Ireland. As part of the Housing for All strategy, the new package is being implemented.
The package includes subsidies for cost rental units, relaxation of development levies, and an extension of the grant scheme to renovate vacant and abandoned houses.
Waiver of development levies
A key component of the package is the 12-month waiver of development levies for developers to reduce construction costs, including the provision of roads, water, and other services to new homes.
The government believes that this measure will allow the construction of 70,000 to 80,000 units that are currently awaiting planning permission, lowering the cost and price of houses by an average of €12,650.
In addition, the government will reimburse the amount spent by the local authorities on providing public infrastructure and services.
The home renovation grant was extended.
The vacancy grant for empty homes has been increased from €30,000 to €50,000. The grant for derelict houses was raised from €50,000 to €70,000. This scheme will go into effect on the 1st of next month.
Previously, this grant was awarded for houses built in 1993. In the new scheme, houses built up to 2007 will get financial assistance. Previously, only homeowners received assistance. Now, renters will also get the grant.
Cost Rental Scheme
The third scheme will provide up to €750 million in subsidies for the construction of 4,000 to 6,000 low-cost rental apartments. The funds will be distributed by the Land Development Agency.
Darragh O’Brien, Housing Minister, has stated that constructions that have not yet received planning permission will be undertaken through cost rental activities. Tenancies will be provided for a long time in the cost-rental scheme at a 25% lower rent than the prevailing rate in the local area. Housing Minister Darragh O’Brien reiterated that the government’s ultimate goal is to build 35,000 houses per year.
Irish Samachar English News
Kindly click the link below to join WhatsApp group chat to get important news and breaking news from Irish Samachar.