The property and construction sector remains both a key industry in Ireland’s economy, and a critical component in delivering much-needed infrastructure and solving our housing crisis, write Tom Woods, Partner, Head of Tax, KPMG in Ireland and Brian Brennan, Partner, KPMG in Ireland.
The sector faces a number of challenges, including the effects of rent caps, recent cost inflation, high costs of financing, and a complex and costly planning system, which inhibit the potential positive contribution that the industry can provide.
We welcome the minister seeking to address a number of the issues faced by participants in the sector – particularly in alleviating the financial burdens faced by tenants and homeowners (both existing and prospective).
We are also keenly aware of the wide range of initiatives introduced and investments made by the Government to housing in recent years – Housing for All, Croí Cónaithe, the Shared Equity Scheme, Cost-Rental Housing, and Project Tosaigh amongst others.
This …