DUBLIN Oct 11 Ireland is to give first-time
homebuyers a tax rebate of up to 20,000 euros in a measure
designed to stimulate house building and alleviate the country's
housing crisis, Finance Minister Michael Noonan said on Tuesday.
The Help-to-Buy scheme, targeted at young people struggling
with high rents and mortgage lending limits introduced by the
central bank, will provide a 5 percent income tax rebate over
four years for new homes worth up to 400,000 euros, he said.
The grant will count towards the minimum deposit required to
be eligible for a mortgage under Central Bank rules, which were
designed to prevent a repeat of a housing bubble that crippled
the economy at the end of the last decade.
(Reporting by Conor Humphries)