Minister of State at the Department of Housing, Local Government and Heritage John Cummins has welcomed the announcement that the Government has funded €325m to the second hand acquisition programme for 2025.
Today, Cabinet approved an additional €265m capital funding in 2025 for the Second Hand Acquisitions Programme. €60m had been allocated under Housing for All.
This will bring the total funding this year to €325m.
This increased funding will allow for a significant programme of acquisitions in 2025 for priority categories of need such as:
• Tenant in Situ Acquisitions
• Older persons and persons with a disability
• Exits from emergency accommodation and
• Buy and Renew acquisitions which tackle vacancy
The introduction of mandatory eligibility criteria for tenant in situ acquisitions for 2025 will ensure that the priority categories of need outlined above can benefit fairly from the second hand acquisitions programme and that the funding available will be targeted at those most in need.
Speaking today, Minister Cummins said: “Today my Department has announced an extra €265m to fund the Government’s second hand acquisition programme for 2025.
“This important scheme allows local authorities to purchase homes lived in by tenants owned by a landlord who wants to sell the property.
“Tenant in Situ acquisitions have helped prevent vulnerable households becoming homeless and there is a clear need to continue with such acquisitions into 2025 where it is the only option available to prevent exits from HAP and RAS supported tenancies in the private rental market into emergency accommodation.
“The introduction of mandatory eligibility criteria for the scheme will also prioritise families in need, persons with a disability and older people.
“This a further evidence of the Government doing all that it can to support people from entering emergency accommodation.”
Local authorities will receive a capital funding allocation for second hand acquisitions and this will be communicated directly to local authorities by the Department.