Cork County Council to Receive More Funding for Second Hand House acquisitions – €325m approved by Government for 2025 Second Hand Acquisitions Programme

Cork County Council will be able to purchase more homes lived in by tenants owned by a landlord who wants to sell the property, Cork North West Fine Gael TD John Paul O’Shea has said.

This week, Cabinet approved an additional €265m capital funding in 2025 for the Second Hand Acquisitions Programme. €60m had already been allocated under Housing for All. This will bring the total funding this year to €325m. The scheme is designed to buy homes from landlords looking to sell, where the tenant was at risk of entering emergency accommodation.

This increased funding will allow for a significant programme of acquisitions in 2025 for priority categories of need such as:

• Tenant in Situ Acquisitions

• Older persons and persons with a disability

• Exits from emergency accommodation and

• Buy and Renew acquisitions which tackle vacancy

The introduction of mandatory eligibility criteria for tenant in situ acquisitions for 2025 will ensure that the priority categories of need outlined above can benefit fairly from the second hand acquisitions programme and that the funding available will be targeted at those most in need. 

Deputy John Paul O’ Shea said: “This week, my colleague Fine Gael Minister of State at the Department of Housing, John Cummins announced an extra €265m to fund the Government’s Second Hand Acquisition Programme for 2025. This important scheme allows local authorities to purchase homes lived in by tenants owned by a landlord who wants to sell the property. Tenant in Situ acquisitions have helped prevent vulnerable households becoming homeless and there is a clear need to continue with such acquisitions into 2025 where it is the only option available to prevent exits from HAP and RAS supported tenancies in the private rental market into emergency accommodation.

“The introduction of mandatory eligibility criteria for the scheme will also prioritise families in need, persons with a disability and older people. This is further evidence of the Government doing all that it can to support people from entering emergency accommodation” concluded Deputy O’Shea.

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