Land value sharing could add €35,000 to cost of homes, claims building industry

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Construction Industry Federation to say Coalition proposals to levy tax on rezoned land could scare off investment via IrishTimesBiz

In an opening statement, seen by The Irish Times, he will say CIF members estimate that the measure could add between €8,000 and €35,000 to the per unit cost of housing in the Republic.Mr O’Connell will note that more than 50 per cent of targets in the Government’s Housing for All strategy, equivalent to 186,000 units, are private homes.

The proposals would force landowners to pay the charge as a condition of the granting of planning permission with the levy being used to fund infrastructure and other services needed for housing on the sites in question.When combined with traditional development levies and Part V obligations , this could mean more than 50 per cent of the original uplift in land value from a rezoning flow back into State coffers.

He will add that the Coalition’s LVS proposal should not be considered in isolation of other issues facing the sector such as planning. “It is simply the case that a lack of zoned and serviced land in conjunction with exceptional demand is the real factor behind high land prices in certain locations.”Mr O’Connell will also note that the backlog in planning decisions from An Bord Pleanála and arising from legal objections means that delivery of “somewhere between 60,000 to 70,000″ units have been delayed.

 

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