Housing plans may see prices soar by €35k

New levy could hit buyers >> Fiery exchanges in Dail

- FERGHAL BLANEY

BUILDERS have warned the Government their plan to solve the housing crisis could backfire – and cost prospective homebuyers an extra €35,000 instead. 

One of Housing Minister, Darragh O'Brien's, latest proposals would see a new Land Value Sharing charge introduced.

This would hit landowners and developers with a levy of up to 30% on the difference in land prices after it is rezoned to the far more lucrative residential category.