A flagship subsidy scheme, Help to Buy, was introduced in 2017 under the auspices of easing the housing crisis for first time buyers. Administered by the Department of Finance, the scheme functions by refunding eligible first-time buyers a portion of their Income Tax and DIRT to the value of €30,000 on properties below the market value of half a million euro.
A crude, blunt, but ultimately well-intentioned instrument, Help to Buy was part of a range of schemes brought in to address the housing crisis (joined in 2022 by the First Home Scheme, Local Authority Home Loan, and Vacant Property Refurbishment Grant). Its introduction left ministers fending off warnings from the ESRI and Central Bank that the grants would merely inflate the market without addressing the structural issues at play.
This article is premium content
Get unlimited access to Gript
Support Gript and get exclusive content, full archives and an ad-free experience
Subscribe
Already a member? Sign in here
