The changes to the eligibility criteria will take effect from 29 January 2024 and will mean that those with an annual income of €11,000 will now be eligible to apply (replacing the previous income limit of €12,500).
These changes will make it easier for older tenants to buy their homes if they have the financial means to do so.
In addition to changes in the income eligibility, the previous requirement in the case of joint applications that both tenants had to have been receiving social housing support for ten years has been changed and now only one tenant is required to fulfil the 10-year requirement.
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Minister for Housing, Darragh O'Brien said: "Affordability and the chance to own a home is at the heart of the Government’s Housing for All policy. These changes to the Incremental Tenant Purchase Scheme will help those social housing tenants who wish to own their own home to do so as well as providing housing security and supporting people to remain living in their communities.
"The scheme is one of a number of affordable purchase options which meet the needs of those requiring long-term housing support and helps low-income tenants make a start on the route to home ownership.
"These changes will also ensure that we strike a balance between facilitating long-term tenants to purchase their homes and ensuring the continued sustainability of the scheme by not unduly diminishing the local authority housing stock available for those on the waiting list."
