Houses over 600k should be eligible for Help-to-Buy scheme – Savills [Video]

High property prices in Dublin mean houses ­valued at over €600,000 should be eligible for the Government’s Help-to‑Buy scheme, experts have said.

In its pre-budget submission, estate agent Savills Ireland has called for the threshold to be raised from €500,000 to €614,000 for properties in Dublin. It says construction costs and consumer inflation have risen by almost 23% since 2017 when the scheme began.

The subvention offers a refund of income tax and DIRT for first-time buyers for the four years prior to their application, but only for homes bought for €500,000 or less.

Savills described it “as a cornerstone in assisting first-time buyers.” In the seven years since it started, 48,454 Help-to-Buy claims have been made, with 47,356 approved. However, first-time buyers are paying an average of less than €500,000 in most of Dublin.

Only in the upmarket areas of Dublin 4, Dublin 6, Dublin 13, Dublin 14, Dublin 16, Dublin 18, Blackrock and Lusk are first-time buyers paying …