The Government is considering a new set of financial incentives aimed at speeding up housing construction, with a focus on large-scale apartment blocks and housing estates.
The Irish Independent reports proposed measures would offer developers tax refunds or direct cash grants, but only after homes are fully completed and occupied.
Unlike traditional funding structures, these schemes would not provide upfront payments or staged funding. Instead, developers would need to finish projects before receiving financial benefits.
The goal is to address funding gaps that can slow down or stall construction, ensuring a faster supply of new homes.
Officials are looking at similar initiatives introduced in the UK in 2021, which successfully encouraged apartment construction on brownfield sites. These incentives reportedly led to increased involvement from Irish developers in the UK market.
However, the proposal is not without controversy. Some within the Coalition worry that offering tax breaks to developers could lead to a repeat of policy mistakes made during the Celtic Tiger era.
Despite these concerns, the Government is under growing pressure to take action, as the housing crisis continues to be a critical issue.
