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Dublin: 1 °C Tuesday 28 January, 2020

This week’s vital property news: IMF says Ireland needs more property taxes

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

IMF says additional taxes on Irish property could prevent another recession

In a report published this week, the International Monetary Fund (IMF) says more taxes should be put on property in Ireland as a way to discourage speculative investing and preempt another recession.

Irish and British architects give their take on Brexit 

The Royal Institute of the Architects of Ireland (RIAI) along with their equivalent bodies in Scotland, Wales, Ulster and the Royal Institute of British Architects (RIBA) have released a statement this week regarding the effect Brexit will have on the construction industry, saying:

Restoring stability and confidence as a matter of urgency will enable us to maximise the opportunities presented by the UK’s new relationship with the EU and the rest of the world.

Under Construction

Dublin-7271 Source: infomatique via Flickr/CC

  • The government expects to build 10,000 new homes a year in Dublin city under the new housing plan, according to a report in the Irish Times.
  • David Carthy, the head of investment at William Fry, says multinational companies won’t have a problem investing in cities outside Dublin such as Cork and Galway.
  • A  new €10,000 scheme to encourage first time buyers will be tied in with incentives for developers to build new homes will be outlined by Minster for Finance Michael Noonan on Budget Day, according to the Irish Times.

Des Res

If you feel that the housing situation in Ireland is bad, spare a thought for this man who lived in a dumpster (albeit voluntarily) for a while. However, it’s not all bad – he has since came up with an idea for a 208 sq ft home that can be easily set up and moved anywhere and probably retails for around $35,000 (approximately €31,400). Take a look here.

This week’s vital property news: IMF says Ireland needs more property taxes
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  • Tiny house

  • Tiny house

  • Tiny house

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  • Tiny house

  • Tiny house

All images: Business Insider

And Finally…

The Royal Institute of the Architects in Ireland (RIAI) has welcomed the government’s Rebuilding Ireland housing strategy, saying:

We commend Minister Coveney and the Government for this considerable achievement in having consulted widely and produced a research-based, co-ordinated approach with timelines and key deliverables within 100 days.

Read: €100 million to be spent on 450 social houses

Also: Take 4: Homes for every budget

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About the author:

Edel Corrigan

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