The Cabinet has approved a "fully-funded" scheme to repair up to 100,000 homes with building defects.
Minister for Housing Darragh O'Brien said remediation work already completed, or currently under way, on apartments and duplexes will be covered by the scheme.
The minister said the cost of the scheme could run between €1.5 billion and €2.5 billion and will cover 100% of costs.
He said fire safety is the biggest issue followed by water ingress problems in these properties.
The legislation to establish the scheme will take a number of months to pass through the Oireachtas.
"We would expect some payments to be made this year but more next year as the scheme is stood up," Minister O'Brien said.
It is estimated that between 50 per cent and 80 per cent of apartments and duplexes constructed between 1991 and 2013, may be affected by one or more fire-safety, structural safety or water ingress defects.
Minister O’Brien said: “We know that there are significant legacy defects in a large number of apartments and duplexes and as a result, many owners of apartments and duplexes are facing difficult financial situations – alongside the personal stress that is caused – when defects arise in their buildings.”
The scheme is expected to be administered by the Housing Agency.
It is envisaged that owners' management companies will be funded to carry out the works, which will cover entire buildings to improve the safety of all occupants.
