22nd October 2024
The latest figures have been published relating to the vacant property refurbishment grant, which show that approximately €45 million has already been paid out in relation to the refurbishment of more than 860 homes.
Cllr O’Shea, who is a general election candidate for Fine Gael in the Cork North West said “This grant scheme is hugely important to boost the number of suitable properties across the country for people to buy or rent.
“The figures which outline applications, approvals and payments under the scheme up to the end of September 2024, also show the exponential increase in the rate of grants issued to homeowners following completion of work.
“The grant is paid out upon completion of all the works involved and as the scheme continues, more and more completions are coming on stream. In Q3 2024, 336 grants were paid out, this compares to 226 in Q2 2024 and 146 in Q1 2024.”
“Overall, since the launch of the grant just over two years ago, there have been 10,097 applications, 6,713 approvals and 867 grants issued.
“Under the vacant property refurbishment grant, you can receive a payment of up to €70,000 to turn a vacant or derelict house or building into your permanent home or a rental property.
Cllr. O Shea added: “In Cork County alone, there were 906 applications received to date, with 640 of those already approved. Overall, Cork is the county with the second highest number of applications for this grant. It is great to see 51 grants have already been paid out, which will contribute positively to the economy in our local area.
“Today’s figures show that the vacant property refurbishment grant has been an extremely popular and effective measure. It has already enabled the revitalisation of hundreds of previously vacant or derelict homes, promoting sustainability while increasing the housing supply and providing essential homes for individuals in need.
Cllr. O’Shea concluded: “In the coming weeks and months, we expect to see a significant rise in grant payments as thousands of successful applicants complete their refurbishment projects and access their full grant awards.
ENDS
