Government set to approve Celt...


Government set to approve Celtic Tiger apartment defects scheme

RedFM News
RedFM News

06:53 18 Jan 2023

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The Government is expected to approve a scheme to repair Celtic Tiger apartment defects which could cost the State up to €2.5bn.

Housing Minister Darragh O'Brien is bringing the memo which will cover fire, structural safety and water caused defects on apartment buildings and duplexes built between 1991 and 2013.

It's expected somewhere between 62,500 and 100,000 housing units are affected and the average cost of remediation will be roughly €25,000.

This leaves a potential cost to the State of between €1.56 billion and €2.5 billion.

The scheme is likely to be administered by the Housing Agency with Owners' Management Agencies funded to carry out the repair works to entire buildings.

The scheme will be done on a 100% basis, with all the costs met by the State.

This new programme, combined with the Mica and pyrite scheme previously revealed to be costing €2.7 billion means the State, and taxpayers, will end up paying more than €5 billion to fix building defects mostly from the Celtic Tiger.

Discussions between Minister O'Brien and the Attorney General's office about whether the builders at fault can be made to pay towards redress are still ongoing.

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