Figures published today find that new home builds are overstated by nearly 60%

Without any single authoritative data source measuring housing completions it is not shocking that official government figures are overstated by up to 60%. While the lack proper statistics is a problem, the real issue is just how few residential dwellings have been completed during Irelands biggest ever housing crisis.

Fundamentally unless you can sell a unit for in excess of €300,000, it simply is not viable to build. Stamp Duty, VAT, Construction & Finance costs make it unfeasible. Outside of Dublin (and maybe Cork, Galway & Limerick at a push) new builds just don’t make sense.  Fix this and we are back in business!

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