Minister for Housing, Darragh O’Brien has announced that he has temporarily waived residential development levies & water connection charges to cut costs for developers in a bid to urgently increase housing supply.
The decision to waive development levies, under which property developers contribute to the cost of providing public infrastructure and services, is part of a housing package signed off by the Cabinet this week.
Developers could save thousands of euro as the tax they pay to local authorities will be waived for a period of time, potentially up to three years, senior Government sources indicated. Conditions are expected to apply to the move such as commencements should begin this year with the development built within three years.
A third measure will see changes to the Croí Cónaithe fund, with grants of up to €50,000 for vacant properties and €70,000 for derelict homes.