The cost of renovating vacant properties to live in is so high it does not make economic sense most of the time to carry out the work.
This is despite a government grant scheme put in place to encourage the refurbishment of vacant properties, according to a major study by the Society of Chartered Surveyors Ireland.
The study of the costs of buying and renovating vacant and derelict sites found costs are so high that higher grants are need. Just five of 20 case studies reviewed by surveyors from all over the country were financially viable for restoration to habitable use.
When the grants for owner- occupier residences under the Government’s Croí Cónaithe scheme and the Sustainable Energy Authority of Ireland (SEAI) are factored in, just one additional property becomes financially viable.
Read the full details in the Irish Independent
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