Jane Matthews Reports from Paris

THE TAOISEACH HAS confirmed that the Government is exploring possible tax breaks for private housing developers in a bid to boost supply. 

The Irish Times reported this morning that tax incentives for private developers are due to be discussed by a Cabinet housing committee next week.

Asked today to elaborate on the plans, and to clarify whether Government will be targeting individual landlords or institutional investors, the Taoiseach said these are “issues that will have to be addressed”.

“This was looked at by the last Government early on, there has been a longstanding commitment to developing brownfield sites, for example, in our cities. They hadn’t developed at the pace that we would have liked. That’s the bottom line,” he told reporters in Paris where he is attending a global AI summit. 

The Taoiseach said not enough development is currently taking place on brownfield sites in cities and that the Government must take action to encourage more construction. 

Brownfield sites refer to land that was previously developed and in use but no longer is, they often contain vacant or derelict buildings.

“So we will look at that. No decisions have been made as of yet, and obviously these are matters to be considered by Government,” he said.

Asked what he says to critics of the Government’s plans, who argue the State should be doing more construction directly rather than relying on the private sector, Martin said: “Sure the State is doing an awful lot.” 

“You need both. You need State and private sector investment. And the opposition are not coming up with concrete proposals at all,” he added.

“They’re saying no to this, no to that, but they’re not actually coming up with viable, concrete proposals, in my view. And we certainly don’t need a State Construction agency. I don’t support that proposal.” 

He said developing a state construction company, as has been proposed by opposition parties like Labour, would take “a long time” to establish and would create its own difficulties. 

In recent days, the Taoiseach has spoken about taking a fresh look at Ireland’s housing policies and possibly overhauling things like existing rent caps. 

Last week, prospective buyers in Kildare slept overnight in their cars in a bid to buy new build homes in Leixlip. Just 25 properties were for sale. 

The two-bed terraces were priced at €460,000, while the three-bed homes ranged from €495,000 to €535,000.