Ireland ViewPoint - Residential Demand Drivers In Ireland October 2017
A CBRE Viewpoint focusing on the demographic trends impacting the residential sector of the Irish economy and property market where Ireland has seen significant population growth from 2011 to 2016, growing by 3.8% in the period.
According to CBRE, new government budgetary measures as well as actions by the Department of Housing are going to impact residential development. Some of these include:
The increase in stamp duty on commercial property transactions from 2% to 6%.
Proposed tax on vacant sites, which is due to come into operation from January 2019.
Removing car-parking for developments in certain areas as well as lifting numerical height caps in urban cores and along key transport nodes.
Establishing a planning policy position that within clearly defined geographical catchments, 750-1,000 metres of the Dart, suburban rail, Luas, Quality Bus Corridor and/or Bus Rapid Transit stops.
Developing a broader range of urban living solutions that cater to different cohorts of the population.
Introducing new shared and Build-to-Rent accommodation models that cater to the housing needs of professionals.