New home buyers in Ireland paying for years of underinvestment, says housing group – Irish Examiner

A builders’ lobby group claims people buying new homes are paying the cost of years of underinvestment in Ireland’s cities and towns.

The Irish Home Builders’ Association said there is a large “affordability gap” between cost of building a home in an urban area and the amount first-time buyers in their target markets can borrow.

That gap is nearly €89,000 in Waterford, over a €100,000 in Dublin, €112,000 in Limerick and €132,000 in Cork.

Spokesman James Benson points out the state takes as much in VAT as developers are leaving aside for themselves, at 12% of the cost of a new home – and that’s before development levies at 4%.

“Land is one element but equally services and provision of services and proper land management. We need to see that there is a proper provision of services. 

“Currently we are probably suffering from the lack of investment and the lack

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