The RIAI says that the new guidelines respond to our changing demographics and create four specific types of apartments which will allow for better housing mix: Build to Rent, Shared Living, Owner Occupier and Student Accommodation.
The RIAI says that these new regulations, specifically the easing of requirements in the build-to-rent sector, should see the sector innovate to respond to the changing market. Two thirds of new households in Ireland over the past twenty years consist of one or two people, yet we are not building enough apartments to cater for this new demographic. At present there are 2.5 times as many one- and two-person households as there are homes to suit them. We welcome the changed requirements for basement car parking which will make it easier to provide apartments, and we also welcome the fact that overall apartment standards, size and quality have not been changed.
However the RIAI says that to create an environment that accelerates delivery, the costs generated through tax, levies and land costs, equating to 57%, must now all be addressed – urgent action is required.
“It is important that regulators address outstanding issues that are preventing the provision of apartments, such as the issue of height and the need to make better use of land, particularly in suburban areas where increased densification is needed. Most importantly, it is crucial that the industry is given certainty in terms of regulations, as continuous change can limit delivery at a time of very high demand.”