Pathway 4 of Housing for All sets out a blueprint to address vacancy and make efficient use of our existing housing stock. The Croí Cónaithe Towns Fund is a key initiative which underpins the policy objectives set out in Pathway Four of Housing for All. In July 2022, the Vacant Property Refurbishment Grant was launched as part of the Croí Cónaithe Towns Fund. The grant benefits those who wish to turn a formerly vacant house or building into their principal private residence.
Building on the success of the scheme to date and to further increase the number of vacant and derelict properties brought back into use, the Vacant Property Refurbishment Grant is being expanded from 1 May. Details of the expansion are as follows:
i. The inclusion of one property which will be made available for rent, by the owner, in addition to one grant for a property which will be a principal private residence of the applicant i.e. a maximum of two applications for a grant will be available;
ii. Changing the eligibility date, which is currently 1993 for the build date, to include vacant and derelict properties built up to and including 2007; and
iii. Increasing of the current maximum grant rates from €30,000 to €50,000 for vacant properties and from €50,000 to €70,000 for derelict properties.
As part of the conditions associated with the Vacant Property Refurbishment Grant, there is a requirement that the applicant(s) will live in the qualifying property for a period of at least five years from the date of payment of the Grant. If at any time they sell the property or it ceases to be their principal private residence within ten years, they must reimburse the local authority an element of the full value of the Grant, as follows:
• Up to 5 Years – 100% of the monetary amount of the Grant
• Over 5 Years and less than or equal to 10 years – 75% of the monetary amount of the Grant
• Over 10 Years – No Clawback
An agreement must be concluded between the local authority and the applicant which contains the clawback agreement, including a charge on the property, which shall be binding on the applicant upon drawdown of the grant. The charge secures the local authority’s interest in the property. The charge document is not concluded until works are complete and prior to the grant issuing.
Where the applicant has a mortgage in relation to the property, the bank’s charge will always rank in priority.
My Department is engaging with the Banking and Payments Federation Ireland with regard to the operation of the grant and to ensure that there are no issues for applicants who are applying for the Vacant Property Refurbishment Grant.
My Department publishes data on applications for the Vacant Property Refurbishment Grant on its website on a quarterly basis, which can be accessed at the following link:
www.gov.ie/en/collection/4bbe4-vacant-property-refurbishment-grant-statistics/
