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News Detail | Michelle Burke

Property News

Labour and materials 45% of new house cost, survey finds

May 24, 2016
Construction costs account for less than half of the overall price of building a three-bedroom semi-detached house in Dublin, according to a new survey.

The Society of Chartered Surveyors Ireland published a report on Wednesday that found the overall cost of build a three-bedroom semi-detached residential home in county Dublin was more than €330,000.

The society of surveyors suggests several measures such as reducing VAT and bringing down development levies on new builds to stimulate further development in Dublin.

The figures from “The real cost of new house delivery 2016” report showed that of the €330,000 total, land and acquisition accounted for €57,500, which is 17 per cent of the overall cost, VAT was €39,000 (12 per cent) and the margin was €38,000 (11 per cent).

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