Tuesday, 9 October 2018Reacting to Budget 2019, Dr. David Duffy, Director, Property Industry Ireland (PII), the Ibec group for businesses working in the property sector commented: ”The increase in spending on social housing is welcome but the emphasis must be on new build rather than competing with other buyers in the market by looking to acquire or lease properties.
“PII have called for the full restoration of interest relief for landlords for some time. The restoration of full interest relief from next January will go some way to stemming the exodus of small scale landlords. PII remain of the view that more needs to be done for the rental sector.
“Affordability is one of the main challenges in the market at present. The allocation of funding to bring forward lands for subsidised, more affordable housing is a positive step. However, the lack of a definitive statement on the future of the HTB scheme, which is due to expire next year, risks causing uncertainty in the market. In addition, increasingly the sector faces labour and skills shortages. The lack of specific measures to attract labour back to Ireland into the property sector is disappointing.”