Dublin City Council manages the Living City Initiative (LCI) on behalf of the Revenue Commissioners. The aim of the LCI is to incentivise owners/investors to carry out the necessary refurbishment and/or conversion works to upgrade existing accommodation or bring derelict/disused properties back into use. Examples include bringing vacant upper floors above a shop into residential/office use or carrying out refurbishment work to one’s own home. The minimum cost of works that required for qualification for the scheme is €5,000. A property in the scheme can be a house, apartment, shop or any kind of structure and can include all or part of a property. Under Budget 2023, the Living City Initiative has been extended to 31st December 2027.
Owners and investors can claim tax relief on the costs of refurbishment and/or conversion of a residential property either as income tax relief (for owner-occupied residential) or capital allowance (for rented residential) in Dublin, Cork, Limerick, Galway, Waterford and Kilkenny. A sample of eligible costs are:
Properties must be constructed before 1915 and lie within the Special Regeneration Area (SRA) which includes Dublin 1, 2, 7 and 8. Please refer to the LCI Map which delineates the boundary.