Increasing Part V S&A requirement to 20% may add at least €8k to the price of a starter 1,100 sq ft home
With news that proposals are going to Cabinet in the coming weeks to mandate builders to provide 10% of new developments to local authorities as social homes, and a further 10% as affordable housing the impact will be to increase price of homes for private purchasers (as required return on a project would then have to be achieved from selling a smaller number of units for sale to private purchasers). The scale of impact will vary but for a typical standard 2 bed apartment in an SHD type development this could add €9.5k (+2%) to the required sale price (with the average cost for a LA to purchase a 2-bed unit in such a development being €360.4k). For a 3-bed house the required price will increase from €338k to €346k (+2.5%).
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