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This week’s vital property news: Fine Gael proposing to cut VAT on new homes

Everything you need to know in one quick guided tour.

House Sign3 Source: Daft

EVERY WEEK, WE bring you all the news you need to know about the property market.

The Big Movers

Fine Gael suggest introducing a ‘Help to Buy’ programme

Fine Gael is proposing to temporarily cut the amount of VAT paid on new houses and apartments from 13.5% to 9%, according to a report in the Irish Times. In addition, the party plans to introduce a ‘Help to Build’ funding scheme which will help builders access finance for building affordable homes.

Property prices pushing people out of Dublin again

House buyers working in Dublin are prepared to have commute for more than one hour to work each day in order to buy more affordable housing further outside the city, according to a survey commissioned by the Real Estate Alliance (REA).

Under Construction

Source: BKD Architects

  • Estate agent Douglas Newman Good (DNG) has been appointed to sell the soon-to-be-developed Boland Mills complex in the Dublin Docklands, according to a report in the Irish Times. There will be 41 units, 31 of which will be in a 15-storey block close to the water. 
  • Cash buyers now account for 40% of house sales – and as a result prospective home buyers in the 25-40 age range are being squeezed out of the market, according to a report in the Irish Independent this week.
  • Fancy a look around some megalithic tombs in Meath? Look no further – this drone footage by Liam Kenny captures the tombs in Loughcrew, Oldcastle, Co Meath.

Source: Focusowner/YouTube

Des Res

The world’s most expensive hotel is set to open this summer with each room costing about €6.2 million to create. The 13, in Macau, is described as the most luxurious hotel ever built and features Roman baths, beds draped in velvet and complementary Rolls Royce transportation, because hey, why not.

This week’s vital property news: Fine Gael proposing to cut VAT on new homes
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  • The world's most expensive hotel

    Source: Business Insider via TheJournal.ie
  • The world's most expensive hotel

  • The world's most expensive hotel

  • The world's most expensive hotel

  • The world's most expensive hotel

Photos: Business Insider

And Finally…

The Royal Irish Architecture Awards are one of the most prestigious architecture awards in the world and the jury for this year’s award has just been released: Robin Mandal, Denis Byrne, Douglas Carson, Louise Cotter and Fionnula May.

Read: This spacious home in Cork is just a stone’s throw from the water

Also: Council gets involved in battle to save the Tyrrelstown homes

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About the author:

Edel Corrigan

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