NESC seeks tax on second homes to ease house prices

The Government's National Economic and Social Council (NESC) has reportedly recommended the imposition of a special tax on second homes.

Reports this morning said the proposal was contained in a study on Ireland's housing needs that was presented by the NESC at a conference in Cork yesterday.

The body has reportedly called for measures to address the purchasing of second homes as investments, which is pushing up house prices and restricting opportunities for first-time buyers.

This morning's reports said the NESC had also called on the Government to increase its spending on social housing from €600m to at least €1.4bn a year over the next 10 years.