First-time buyers and other owner-occupiers will be given grants of up to €50,000 to bring derelict and vacant homes back into use.

The Croí Cónaithe Fund will support the refurbishment of vacant and derelict properties, with priority given to applications in areas where the level of vacancy or dereliction is high.

The €50million fund, targeting 2,000 vacancies by the end of 2025, was announced by Minister for Housing Darragh O'Brien yesterday. It will be delivered through local authorities.

A grant of up to €30,000 will be available for the refurbishment, including the conversion of a property which has not been used as a home before now. Where a property is derelict, a top-up grant amount of up to €20,000 will be available.

This can also be combined with the Sustainable Energy Authority Of Ireland (SEAI) Better Energy Home Scheme that covers works of up to €26,750.

In Association with

The scheme is only available to individuals or households where the property will be their principal private residence.

It is not available for developers, and properties considered for inclusion must be vacant for two years or more and built before 1993.

Sinn Féin housing spokesman Eoin Ó Broin said the amount being spent on the vacant homes issue was too little in comparison to the levels of funding available.

He said the Minister was "asleep at the wheel" and repeated Sinn Féin's criticisms of the Government's failure to tackle the crisis.

"They haven't met any of their targets in two years, and I don't think they're going to meet their targets this year," he said.