Flats not viable to build or buy, say surveyors

Apartments are currently not viable to build and too expensive to buy for too many people, according to a new report published by the Society of Chartered Surveyors Ireland.

In the report, entitled ‘The Real Costs of New Apartment Delivery — analysis of affordability and viability’ published today, the SCSI looked at 28 apartment schemes in Dublin and found that only in the case of a suburban low-rise development did the current market price adequately meet the total delivery costs.

According to the report, for that scenario to change either the current price of an apartment must rise or the total delivery cost must fall.