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Minister for Housing Darragh O'Brien will seek Cabinet approval today to draw up a scheme that would provide financial support to repair apartments with building defects.
It is expected the scheme will establish supports for the remediation of fire safety issues, structural defects and water ingress in purpose-built apartment buildings and duplexes.
The measure is set to cover these buildings, which were constructed between 1991 and 2013.
It is estimated that up to 100,000 homes comprising of apartments and duplexes could have one or more defects.
The average cost of undertaking the work is likely to be around €25,000 per property and the overall cost could run to €2.5bn.
'Fully funded' scheme to repair defective apartments
The Cabinet has approved a "fully-funded" scheme to repair up to 100,000 homes with building defects.
www.rte.ie
Madness,
Is this not what insurance is for?
Why should I fork out my taxes to repair other people's buildings?
I pay over 1k per year for my home insurance, it covers buildings and contents, so I expect any serious issues to be covered, I do not expect te state to pay out for it.