Budget Measures

Dáil Éireann Debate, Tuesday - 18 October 2016

Tuesday, 18 October 2016

Ceisteanna (208)

Willie Penrose

Ceist:

208. Deputy Willie Penrose asked the Minister for Finance if, in respect of the €20,000 grant for first-time buyers outlined in budget 2017, it will be applied in respect of a house which was commenced but clearly not finished as it just constitutes a shell, with no septic tank installed or electricity connection; and if same would be classified as a new build whereby the young persons intending to purchase same completed the shell to a satisfactory habitable standard (details supplied); and if he will make a statement on the matter. [30905/16]

Freagraí scríofa

Minister for Finance

In Budget 2017, I announced a "Help to Buy" initiative which will provide an income tax rebate to first time buyers to assist them in getting the deposit for their first home, as required under the Central Bank's macro-prudential mortgage rules. The full definition of what constitutes a new build property, as well as the conditions around self-builds that will be eligible under the initiative, will be outlined in the Finance Bill.