Cathal Crowe
Ceist:268. Deputy Cathal Crowe asked the Minister for Finance the reason the help to buy scheme only applies to new builds; and if he will make a statement on the matter. [37371/21]
Amharc ar fhreagraTuesday, 13 July 2021
Ceisteanna (268)
Freagraí scríofa
The Help to Buy (HTB) scheme is designed to stimulate the supply of new houses in the housing market and to assist first time buyers in accumulating a deposit for a new home.
In relation to second-hand properties generally, an increase in the supply of new housing remains a priority aim of Government policy. As mentioned above, the HTB scheme is specifically designed to encourage an increase in demand for affordable new build homes in order to encourage the construction of an additional supply of such properties. A move to include second-hand properties within the scope of the relief would not improve the effectiveness of the relief; on the contrary, it could serve to dilute the incentive effect of the measure in terms of encouraging additional supply.