Terence Flanagan (Dublin North East, Fine Gael)
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Question 593: To ask the Minister for the Environment, Heritage and Local Government his plans to introduce a housing product that allows a person renting to convert their rental payments into equity in the home; and if he will make a statement on the matter. [15686/09]

John Gormley (Dublin South East, Green Party)
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The Housing (Miscellaneous Provisions) Bill 2008 provides for the introduction of an Incremental Purchase Scheme for lower income households assessed as eligible for social housing support and who wish to become home owners. The scheme will also enable existing local authority tenants who wish to become home owners to transfer to and purchase homes made available under the scheme. The scheme is currently being market tested by local authorities through a number of demonstration projects. It is intended that the scheme would be released nationally in 2010 following enactment of the Bill.

In relation to the sale or rent of privately owned housing, it is a matter for individual landlords or vendors to consider whether to offer specific inducements, such as a rent to buy incentive, to prospective purchasers or renters. Accordingly, I have no plans to introduce such a scheme for the wider housing market.