Monday, October 20, 2008

Not so affordable

Here is a clear example of why the government should stop getting involved in the property market. Houses on sale under the affordable houses scheme are now more expensive than houses on general sale.

Buyers can save €10,000 on €245,000 two-bedroom apartments in Phibblestown Wood, Ongar, Dublin 15, and €5,000 on €205,000 three-bedroom homes at Parnell Drive and Parnell Green, Ladyswell, Mulhuddart, by purchasing on the open market
instead of through Fingal County Council

It seems no matter how well intended most government schemes in the property market just end up profiting the property developers. The government should release their grip on the idea of massive tax income from a property boom and focus on encouraging a property market that is profitable for developers yet genuinely affordable for buyers.

No comments: