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A foreigner who buys a derelict property on one of Ireland's offshore islands will be given up to 84,000 euros. This will be provided as part of the "Derelict Property Restoration Grant" program, launched in July 2023. This was reported by This is Money.
Housing in Ireland
The government program is aimed at increasing the population of the islands, restoring housing, improving infrastructure, and expanding access to basic services in the fields of health and education.
Large grants are only available to those willing to buy homes that were built before 2007. In addition, the property must have been vacant for at least two years.
The grant includes 23 offshore islands, which are home to a total of 2,734 people. According to the 2016 census, the islands were home to a total of 2,734 people.
Renovation
New homeowners can receive up to €60,000 to renovate vacant homes, or up to €84,000 if the property is completely abandoned.
The amount of the grant depends on the scope of work approved by the local authorities and is paid based on documents such as invoices and receipts. After that, the foreigner can live there for at least 10 years from the date of renting out the property or receiving payment.
For those wishing to receive a grant of up to €84,000, such houses can be found on the list of derelict properties compiled by Irish local authorities.
♦ If a participant in the program decides to sell the house or leave it unattended, they may have to repay the local authority all or part of the grant amount.
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