Simon Harris (Wicklow, Fine Gael)
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The Help to Buy (HTB) incentive, is a tax-based scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also aims to encourage additional supply of new houses by supporting demand.

HTB provides a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits outlined in the legislation.

The level of support available to first time buyers under the HTB scheme, is whichever is the lesser of:

• €30,000; or
• 10 per cent of the purchase price of the new property; or,
• the amount of Income Tax and DIRT paid in the four years before application for the relief.

For a property to qualify for the HTB scheme, it must be new or converted for use as a dwelling, having not been previously been used as a dwelling. Additionally, the purchase value/approved valuation of the property must not exceed €500,000. The terms of the scheme are set out in section 477C of the Taxes Consolidation Act 1997 and must be applied, by Revenue, as provided for in the legislation.

Based on the latest available data (30 November 2025), the scheme has supported over 61,000 individuals or couples to buy or build their own home. To date the average property value of approved HTB claims was €360,500.

The First Home Scheme (the FHS) is a shared equity scheme, funded by the Minister for Housing, Local Government and Heritage and the participating lenders: the Bank of Ireland, Allied Irish Banks Plc and Permanent TSB Plc.

The FHS Designated Activity Company (DAC) is fully responsible for the operation of the FHS on behalf of all shareholders, including price ceiling reviews.

I am advised that at its launch, the FHS DAC announced it would review all price ceilings at six month intervals.

I am further advised the DAC take into account a range of factors as part of these reviews, including the median price and volume of new builds purchased by first time buyers in each local authority area including at sub county level where relevant.

The FHS property price ceilings are set out on the scheme's website:

www.firsthomescheme.ie/about-the-scheme/property-price-ceilings/.

Finally, I understand the property price ceiling under the FHS for a property in Galway City is €475,000 and in Galway County is €450,000. Accordingly, the purchase value/approved valuation of a property under HTB which is capped at €500,000, exceeds the price ceilings for properties under the FHS in Galway.