This has proved controversial with critics who claim the big funds are driving up prices while providing unsuitable accommodation for young families.However, a report by property consultants Mitchell McDermott earlier this week warned that Dublin planners’ efforts to limit build-to-rent apartment blocks threaten supply, as costs mean building them to sell is not viable.
It warned that the price of materials including steel, timber, windows and bathroom fittings rose between 20 per cent and 86 per cent last year. This level of price growth poses a risk to many of these projects and to the prospect of the industry building to rates that approximate demand in the market, notionally put at 35,000 units annually. It’s not obvious that inflation, which is being fuelled by energy prices, will moderate any time soon.
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