The go ahead has been given to 750 applications to the First Home Scheme since its launch in July last year.
The scheme was set up to help first-time buyers bridge the gap between their mortgage, deposit and the price of a new home through a joint venture between the State and three banks: AIB, BOI and Permanent TSB.
Of the applications approved, 335 contracts have been issued and 137 buyers have closed and are now living in their new homes.
A further 254 applications are being processed with approvals expected to issue shortly.
The First Home Scheme works as a shared-equity partnership.
Under the terms the buyer can receive funds of up to 20% of the purchase price of the property and the scheme takes a percentage ownership in return.
During an end-of-year update on the scheme, Minister for Housing Darragh O'Brien said it has "built up strong momentum", adding he is confident there will be significant take up this year.
The First Home Scheme is making €400 million available to facilitate the purchase of 8,000 homes over a five-year period.
More than a quarter (27%) of the applications to date have come from Kildare (202), followed by Dublin (26%; 194) and Cork (15%; 112)
There have been no applications from Roscommon, Leitrim or Longford.
Eligibility for the scheme has been extended this month following a review last year.
The limit for eligible homes was extended by up to €75,000.
The new price ceilings include houses valued up to €475,000 and apartments worth €500,000 depending on location.
The average price for completed purchases is €370,000 and the average support provided is €71,000 or 19% of the purchase price.
