The Government has introduced a tax break to encourage owner-occupiers to renovate Georgian homes.
The scheme, which will be launched on a pilot basis in Waterford and Limerick, allows home owners write-off the cost of renovation against income tax.
The scheme will not be open to developers or investors.
There will also be restrictions for high earners.
Minister for Arts, Heritage and the Gaeltacht Jimmy Deenihan said: "The Living City Initiative will aim to preserve existing heritage assets, stimulate heritage-led regeneration and add to the long-term sustainable development of these locations."