Approval sought for €2.5bn scheme to repair apartments

Minister for Housing Darragh O’Brien will seek Cabinet approval today to draw up a scheme that would provide financial support to repair apartments with building defects. There are an estimated 100,000 such apartments in the country. 

The plan is anticipated to create support for the repair of structural issues, water intrusion, and fire safety issues in purpose-built apartment buildings and duplexes.

Apartments built between 1991 and 2013 will be included in the scheme. From 50pc to 80pc of the apartments and duplexes built during this period are affected by one or more defects, such as fire or safety issues or water ingress issues.

The work is expected to cost, on average, about €25,000 per property, with a potential total cost of €2.5 billion.

The Housing Agency is anticipated to oversee the project’s administration.

The works, which will cover entire buildings to improve the safety of all occupants, are expected to be funded by Owners’ Management Companies.

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