Robert Troy
Question:109. Deputy Robert Troy asked the Minister for Housing, Local Government and Heritage if he will consider introducing a tax incentive system for developers in tandem with the croi conaithe scheme. [28478/24]
View answerWednesday, 3 July 2024
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The Croí Cónaithe (Cities) scheme launched in May 2022. The scheme is a viability measure designed to support the building of apartments for sale to owner-occupiers that would otherwise not be built, providing a greater range of tenure in our urban centres. The scheme aims to bridge the gap between the delivery cost of building apartments and the market sale price, where the cost of building is greater. Subject to the actual level of the viability gap, a subvention of up to €120k is available in Dublin and €144k in the rest of the country.
The Croí Cónaithe (Cities) scheme is part of a broad suite of housing measures in Housing for All designed to increase social, affordable and private housing supply. For example, the Secure Tenancy Affordable Rental Investment Scheme (STAR) is another measure introduced as part of the Governments Housing for All plan. The STAR Scheme is available to private operators and is intended to bring forward Cost Rental dwellings with the aim of assisting eligible households who are experiencing acute affordability pressures in the private rental sector, particularly in urban centres where prevailing rents are especially high. STAR investment of up to a maximum of €200k per unit in Dublin (€175k in the rest of the Country) is available to support the provision of these cost rental units.
With regard to the introduction of tax incentives that could apply in tandem to residential property developments, this would be a matter for my colleague, the Minister for Finance.