Neale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

The vacant homes tax is only one part of a much broader suite of measures. The Minister for Housing, Local Government and Heritage launched a vacant homes action plan in January 2023 and a progress update was published in April. This document outlines the progress that has been made in addressing vacancy, along with the actions being pursued to return as many vacant and derelict properties as possible to viable use. This is about using the carrot as well as the stick.

The vacant property refurbishment grant has seen more than 10,000 applications, of which 6,730 have been approved and more than 867 grants paid out as of the third quarter of this year. This scheme coupled with others such as the ready to build scheme under the Croí Cónaithe towns fund provides financial incentives. The €150 million urban regeneration development fund has been made available to local authorities to acquire vacant or derelict properties and more than 1,200 vacant or derelict properties have now been identified and approved under call 3 of the fund, with an estimated residential yield of more than 5,400 homes. Further areas include the compulsory purchase order activation programme and the local authority purchase and renovation loan.