Property developer warns of 'unintended consequence' of new land tax impacting house prices 

Michael O'Flynn has lost one appeal to have land on the Naas Road excluded from the new tax and estimates that it will cost him €1m per annum

Computer generated image of the O'Flynn Group development planned for the Naas Road, on the former Nissan site, in Dublin

HOUSE buyers could end up paying more for their homes because of the costs incurred by developers seeking to exclude sites from a new land tax, property developer Michael O’Flynn has warned.

Mr O’Flynn, who faces an estimated €1m annual tax bill on land he plans to develop off Dublin’s Naas Road, as a result of losing an appeal to An Bord Pleanála, said an “unintended consequence” of the new tax is that it will “add to the cost of housing”.