New €140,000 grant package aims to cut refurbishment costs for buyers and small investors willing to convert vacant space over shops into homes
6 January 2026
Homebuyers, private landlords and small-scale investors are being targeted in a renewed Government push to bring vacant property back into use, with the Vacant Property Refurbishment Grant extended to 2030 and a new, higher-value grant introduced for homes above shops.
Housing Minister James Browne has confirmed that owners converting vacant space over commercial premises into residential use will be able to access grant support of up to €140,000, reflecting the higher construction, fire safety and access costs typically involved in such projects.
For consumers priced out of new-build homes, and investors looking at town centre properties, the enhanced grant materially changes the viability of refurbishing long-derelict upper floors on main streets. A single new home above a shop can attract up to €95,000 in grant support, rising by €20,000 for a second unit and a further €20,000 where three or more units are created. An additional €5,000 is available to cover professional advice at design and feasibility stage.
The scheme applies where the ground floor remains in commercial use, a condition designed to support active streets while adding residential supply. Separate top-ups have also been introduced where entire former commercial buildings are converted into multiple homes, bringing potential grant support in those cases to more than €110,000.
The Department says interest in the broader Vacant Property Refurbishment Grant continues to accelerate. Since its launch in July 2022, more than 15,600 applications have been made, with over 11,800 approved and €230 million paid out. In the third quarter of 2025 alone, 760 grants were paid, a 126% increase on the same period the previous year.
For private buyers and investors, the figures point to growing confidence in refurbishment as a route to housing delivery, particularly in towns and villages where vacant property is more readily available than serviced development land. The Government now plans to support the delivery of a further 20,000 homes through the scheme under the national housing plan.
The new Vacant Above the Shop Grant is due to open by the end of the first quarter of 2026, with local authorities receiving additional funding to administer what is expected to be strong demand.
*Prior to the extension of this grant, iProperty Radio host Carol Tallon spoke to first-time buyer
Sarah McInerney who purchased an apartment over a premises in Galway City. Watch/listen
back to her experience buying at auction, convincing the mortgage company of her ability to turn
a one-bedroom apartment into a two-bed, and navigating grants available at the time to help
finance her journey to home ownership: https://www.youtube.com/watch?v=q2fHMRcSUSY
