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The Government could address a “massive rump of cost” associated with building houses through tax and regulatory changes, according to financial analyst Karl Deeter.
He speaking after a new report found that couples need a joint-income of almost €100,000 to buy the cheapest apartment in the Greater Dublin Area.
The report from the Society of Chartered Surveyors Ireland found that Dublin apartments range in price from €359,000 in the suburbs to €619,000 in the city.
It notes that a couple buying their first home would need a deposit of €38,000 and a joint-income of €98,000 to enter the market.
Government could address massive rump of housing costs through tax and regulatory changes
Irish house prices forecast to rise by 4% as supply struggles to meet demand Shift to remote working has driven demand for larger properties in regional locations
Mon, Jan 18, 2021, 00:01
The overnight shift to people working from home last year ‘has led to a reordering of priorities’, according to TJ Cronin, vice president of the SCSI. Photograph: Artur Widak/NurPhoto via Getty Images
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Irish residential property prices, which remained resilient during the Covid-19 shock last year, are set to rise by an average of 4 per cent in 2021 as supply shortages continue to prop up valuations, according to a survey of chartered surveyors.