Google Inishowen News & Business Directory
Drop Down Menu
  Business Directory Ad  


Donegal spends €10.6m on home improvements 27.03.17

SOME 570 Donegal homeowners spent €10.6 million under the Home Renovation Incentive (HRI) scheme in the past four years, new figures show.
The statistics show that these homeowners spent an average of €18,596 doing up their homes under the scheme.
The HRI gives homeowners an income tax credit of 13.5% on qualifying expenditure but they must use a tax-compliant contractor who qualifies to take on the work.
More than 9,000 such contractors are listed nationwide including Donegal.
The scheme has been extended until the end of 2018 and covers the main home, rental properties, civil works and offices.
Homeowners nationally have availed of €1.2 billion in total through the scheme since 2013 on almost 77,000 home improvement projects with an average spend of €16,000.
Construction Industry Federation (CIF) director general Tom Parlon said: “The Home Renovation Incentive has been very successful on several fronts. It supported an incredible €4 billion spend into the Irish economy in 2016. This money is recycled into the local community by the 9,000 plus domestic contractors involved in delivering renovation construction across Ireland. These businesses employ a good proportion of the 140,000 people engaged in construction in Ireland."
HRI Guide for Homeowners or Landlords
Mr Parlon said the incentive likely "kept many thousands of construction workers, tradespeople and companies afloat during the recession". Home improvements now account for €1 in every €4 spent in the construction industry, the figures also show.
The CIF is pushing the Government to put the Construction Industry Register of Ireland (CIRI) on a statutory footing. The register would only allow the names of building companies "operating at the highest standards".
Add to Favorites :: Return to > Top Stories    > News    > Home