CIF: Govt must boost property market
The Director General of the Construction Industry Federation Tom Parlon has said it is vital that the Government bring in measures in December's Budget which will incentivise people to buy new homes.
His comments come after reports today that the Finance Minister Michael Noonan is considering allowing new home buyers be exempt from paying the property tax next year.
However, experts say if a property tax holiday were to come into effect, it would have to last for at least three years in order to incentivise new buyers.
Mr Parlon said the Government and the economy has a lot more to gain from people buying homes than it does from the property tax.
