News
New shared home equity scheme launched
On the back of the article we published two weeks ago informing of the new First Home Shared Equity scheme, the government announced a further home buying incentive this week.
A new €30,000 grant is available to those who purchase a vacant property to live in.
At the time of writing, Minister Darragh O Brien is bringing details of the Croi Connaithe scheme to cabinet, which allows for grants of up to €30k to help first time buyers with the cost of renovating existing vacant buildings. The scheme will be administered through the Local Authorities and is envisaged it will help in the restoration and conversion of many unoccupied buildings in our towns and villages.
Additional Funding of €7.5m has also been approved this week by Rural and Community Development minister Heather Humphreys, to redevelop 36 derelict and vacant properties in rural areas into new community hubs. The funding will see former banks, Garda Stations and courthouses taken into public ownership and converted for community use.
Both these new schemes are designed to tackle the scourge of dereliction in our rural towns and villages.
A further measure, aimed at easing pressure in the rental market, is the much publicised move to tighten regulatory controls on the short term letting of non-principal private residences in rent pressure zones.
The housing minister has said the new controls would result in more homes returning to the long term rental market in areas where rents are highest and where households have the greatest difficulty sourcing affordable accommodation. From September, online platforms will not be able to advertise properties in rent pressure zones that do not have the requisite planning permission in place.
Non compliance will be an offence for both the individual property owner concerned and the property website
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