Mortgage to Rent Scheme Eligibility

Dáil Éireann Debate, Tuesday - 10 March 2015

Tuesday, 10 March 2015

Ceisteanna (547)

Clare Daly

Ceist:

547. Deputy Clare Daly asked the Minister for the Environment, Community and Local Government further to Parliamentary Question No. 580 of 3 March 2015, if he will address the fact, in view of rising property prices over the past two years, that maximum property values of €220,000 in the greater Dublin area, and €180,000 in the rest of the country, set for mortgage to rent schemes in June 2012, have now become outdated; and his views on raising the maximum property values to €300,000 and €250,000, respectively. [10486/15]

Freagraí scríofa

Minister for the Environment, Community and Local Government

I refer to the reply to Question No. 580 of 3 March 2015. In order for a property to be considered under the Mortgage to Rent scheme it must be purchased for less than €220,000 in the Greater Dublin Area and €180,000 in the rest of the country. These limits were determined by a working group which took account of available market data and the current social housing acquisition limits.

These limits are considered to be reasonable in respect of the income bracket that is targeted by the scheme.

Question No. 548 answered with Question No. 545.