Louise O'Reilly (Dublin Fingal, Sinn Fein)
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261. To ask the Minister for Housing, Planning, and Local Government if he is aware of concerns in Fingal that the ceiling for the first home scheme is insufficient; if he is aware of queries as to the reason the ceiling for an apartment is higher than a house; if these ceilings will be subject to review; and if he will make a statement on the matter. [8640/24]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The First Home Scheme, which launched in July 2022, is a shared equity scheme, designed to help bridge the gap for eligible first-time buyers, eligible homebuyers, and self-builders, between their deposit and mortgage, and the price of their new home (within price ceilings established across the country). Full details are available on the First Home Scheme website, www.firsthomescheme.ie.

The First Home Scheme Designated Activity Company (DAC) is fully responsible for the operation of the First Home Scheme on behalf of all shareholders, including price ceiling reviews. The price ceilings of the First Home Scheme are reflective of CSO data showing the median price paid for a new-build home by a first-time buyer by area. The price ceilings for apartments under the First Home Scheme reflect the higher cost of delivering apartments, particularly in urban areas.

At its launch, the First Home Scheme Designated Activity Company (DAC) announced it would review all price ceilings at 6-month intervals. Three reviews have taken place to date, with the most recent one conducted towards the end of last year, which took effect from 1 January 2024 and is available at the following link: www.firsthomescheme.ie/about-the-scheme/property-price-ceilings/

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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I refer to the reply to Question No. 322 of 30 January 2024 which sets out the average costs for units delivered via CALF Construction, CALF Turnkey, CALF Part V, CAS Construction, CAS Turnkey, CAS Part V, SHIP Construction, SHIP Turnkey and SHIP Part V.

The average cost per unit for Cost Rental Equity Loan from Q1 to Q3 2023 is €127,341. To note that this average cost represents the average loan cost and not a cost to the Exchequer.