Make houses cheaper: Government urged to reduce rate of VAT on new houses

Posted on 18 December 2018

Developments must be ‘viable for the housebuilder and affordable for the consumer The continuation of the Central Bank’s restrictions on mortgage borrowing means the Government needs to reduce the rate of VAT on new houses to deliver increased supply of housing, particularly apartments, according to Property Industry Ireland (PII), the representative body for the property […]

Three-year minimum wait for Hibernia Reit land to produce homes

Posted on 20 November 2018

Hibernia Reit CEO Kevin Nowlan has said it will be another three years at least before any new homes are delivered on his company’s massive land bank at Newlands Cross in west Dublin. Speaking to the Irish Independent following the publication yesterday of Hibernia Reit’s latest interim results, Mr Nowlan said there was now a […]

First-time buyers in Ireland paying multiples more for mortgage than European average

Posted on 4 November 2018

First-time buyers here are paying multiples more for a mortgage every year than the European average. The high rates are combining with a scarcity of properties to buy to price more new buyers out of the market, experts said. New figures show that a typical new buyer is paying almost €157 more for their mortgage […]

Families to save as mortgage market shake-up challenges existing lenders

Posted on 23 October 2018

The mortgage market is in line for a shake-up as Finance Ireland signalled its intention to become a key player with the purchase of the home-loans business of Pepper Money. It plans to grow the Pepper mortgage book and is aiming to launch additional home-loan products in the new year. The move is set to […]

Airbnb shut out of rent-a-room relief

Posted on 23 October 2018

Finance Minister Paschal Donohoe moved to shore up the short-term lettings incentive so home-owners using Airbnb and other tourism rental platforms do not benefit from the tax exemption granted under the existing rent-a-room relief. An amendment to the Finance Bill, which was published yesterday, strips the right to the exemption by applying a 28-day rule. […]

Landlords paid tax on 59% of rental income in 2016

Posted on 17 October 2018

Residential landlords paid tax on just 59 per cent of their rental income in 2016, claiming total deductions of some €1 billion, according to new figures. This is the first time the Revenue Commissioners have been able to provide such a breakdown on rental income. The figures come as Budget 2019 fast-tracked a relief for […]

Revealed: Fast-track plan for thousands of new homes in tatters

Posted on 2 October 2018

A much-hyped fast-track housing plan to deliver thousands of new homes for families will be gathering dust for at least three years before anything is done. The city scheme was announced by Government more than two years ago, but its promise of a quick supply of new homes is in tatters. Plans to develop 3,500 […]

Couples earning up to €90,000 may avail of new affordable housing scheme after Budget

Posted on 25 September 2018

House-hunting couples who earn up to €90,000 a year may be able to avail of a new affordable housing scheme after the Budget. Fianna Fáil is demanding the introduction of an affordable housing scheme which will see homeowners enter into a shared-ownership arrangement with local authorities. The scheme, which is central to Budget negotiations, will […]

House price rises now at lowest level in 15 months

Posted on 18 September 2018

The rate at which property prices are increasing continues to ease off. This is being put down to buyers reaching the limit of what they can borrow due to Central Bank lending restrictions. Figures from the Central Statistics Office (CSO) show residential property prices at national level increased by 10.4pc in the year to July. […]