Sunday, August 18, 2019

A developer is calling for the minimum size of co-living bedrooms at a new Dublin property to be reduced from 12 square metres to just over six.

If approved, the block in Harold’s Cross would have three units under the limit.

The Sunday Business Post reports that 61 co-living units are proposed at the site which already has planning permission for standard apartments.

Business Post journalist Killian Woods said the builder is trying to make the case on the grounds an old building is being retained.

He said: “On the basis they are renovating an existing building and not demolishing it to knock down, they feel they should be given a degree of flexibility.

“This would include the creation of one room that is 6.3 square metres, and to put that in context, a king-size mattress is four square metres.”

Meanwhile, The Construction Federation of Ireland has said the Government should not reduce the property value cap in the Help-to-Buy Scheme.

The scheme currently allows new home buyers to claim a tax rebate of up to €20,000 when they buy a newly-built house.

The Sunday Independent reports Finance Minister, Pascal Donohoe, is looking to overhaul the scheme and reduce the cap to €250,000.

Director-General of CIF, Tom Parlon, said if the cap goes lower than €490,000, it will exclude many first-time buyers, especially from the Dublin market.

Mr Parlon said: “In our pre-Budget submission to the Minister we have suggested a cap.

“The fact that it is at €500,000, we don’t think is necessary, it might exclude a small cohort of people in North County Dublin, but other than that, first-time buyers cannot afford under the very strict Central Bank limit at the moment – three-and-a-half times your salary – they can’t afford to be buying a €500,000 house.”

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