> Tax breaks for small landlords and a “backstop” for developers who cannot sell new-build apartments are set to form part of a budget package bidding to tackle the housing crisis.
> Darragh O’Brien … is now working on a “backstop” which would involve the state buying any apartments developers cannot sell on the open market
Surprise, surprise. More measures to inflate the cost of housing as well as a nice tax cut to enrich their private landlord friends.
>Tax breaks for small landlords
Fine Gael
>“backstop” for developers who cannot sell new-build apartments
Fianna Fáil
You should listen when people tell you who they are.
Why would a developer be unable to sell a new build apartment other than not being able to get the asking price?
If they lowered it, they’d sell it no problem.
So developers are going to start selling 500k 2 bed apartments in the back ass of West Meath to the government.
Seriously. What is to stop property developers pricing any property high enough the general public cant buy it so they can get a payday from the gov?
So instead of the state contracting builders to build social and affordable housing, they will just encourage developers to build unviable apartments and will buy them at inflated costs with the developers margin included?
Makes perfect sense.
This backstop makes 0 sense. The only apartments being built that are available to buy are luxury apartments. The people buying those aren’t going to want one if there’s a risk half their block is going to be turned into cost rental housing never mind the already existing 20%, to social housing. This basically just screams FF bailing out developers who paid too much for land and now have unviable sites
7 comments
> Tax breaks for small landlords and a “backstop” for developers who cannot sell new-build apartments are set to form part of a budget package bidding to tackle the housing crisis.
> Darragh O’Brien … is now working on a “backstop” which would involve the state buying any apartments developers cannot sell on the open market
Surprise, surprise. More measures to inflate the cost of housing as well as a nice tax cut to enrich their private landlord friends.
>Tax breaks for small landlords
Fine Gael
>“backstop” for developers who cannot sell new-build apartments
Fianna Fáil
You should listen when people tell you who they are.
Why would a developer be unable to sell a new build apartment other than not being able to get the asking price?
If they lowered it, they’d sell it no problem.
So developers are going to start selling 500k 2 bed apartments in the back ass of West Meath to the government.
Seriously. What is to stop property developers pricing any property high enough the general public cant buy it so they can get a payday from the gov?
So instead of the state contracting builders to build social and affordable housing, they will just encourage developers to build unviable apartments and will buy them at inflated costs with the developers margin included?
Makes perfect sense.
This backstop makes 0 sense. The only apartments being built that are available to buy are luxury apartments. The people buying those aren’t going to want one if there’s a risk half their block is going to be turned into cost rental housing never mind the already existing 20%, to social housing. This basically just screams FF bailing out developers who paid too much for land and now have unviable sites