Tax Relief Opportunity for Property Owners in Key Irish Towns

Property owners in Athlone, Drogheda, Dundalk, Letterkenny, and Sligo can now benefit from a valuable tax relief scheme aimed at revitalising urban areas and increasing the supply of residential and commercial spaces.

What is the Living City Initiative?

The Living City Initiative (LCI) is a government-backed scheme designed to encourage the regeneration of older buildings in designated urban areas. It provides tax relief to property owners who refurbish existing properties or convert buildings into residential or commercial use.

The initiative is already active in several cities, including Dublin, Cork, Galway, Kilkenny, Limerick, and Waterford, and has now been extended to include additional towns.

What Does This Mean for Property Owners?

If your property is located within a designated Special Regeneration Area (SRA) in any of the newly included towns, you may be eligible to:

• Claim tax relief on refurbishment costs
• Convert vacant or underused buildings into residential homes
• Transform commercial properties into viable living or business spaces
• Take advantage of the growing trend of “Over the Shop Living”, converting upper floors of commercial premises into residential units

Supporting Urban Regeneration

Special Regeneration Areas are typically central locations that:

• Experience higher levels of vacancy or dereliction
• Contain older building stock with redevelopment potential
• Benefit from targeted investment and renewal

By incentivising redevelopment, the scheme aims to:

• Increase housing availability
• Support local businesses
• Enhance the overall vitality of town centres

How to Qualify

To avail of the scheme, property owners must:

• Own a property within a designated SRA
• Carry out qualifying refurbishment or conversion works
• Meet specific criteria set out under the Living City Initiative

Final Thoughts

This expansion of the Living City Initiative presents a strong opportunity for property owners and investors to unlock the potential of underutilised buildings while benefiting from tax incentives.

If you own property in one of the newly designated areas, now is an ideal time to explore how this scheme could support your plans.