Affordable apartments in Dublin city not commercially viable

A new report claims building affordable apartments in Dublin city is not commercially viable.

The Society of Chartered Surveyors says a two-bed medium-rise apartment costs a developer between €470,000 to €578,000 to build.

Building costs for lower rise apartments in the Dublin suburbs start from €293,000.

The society says building a three bed apartment is now more expensive than building a three bedroom house.

Paul Mitchell, one of the authors of the report said: "Height in terms of very high rise or tall buildings isn't really the solution , the higher that you build, the more expensive it costs.

"Buildings become less efficent and you have to spend a lot more money on structure."

KEYWORDS: Dublin, Housing


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