PII welcome many of the housing measures announced in today’s Budget

Property Industry Ireland (PII), the Ibec group for businesses working in the property sector, welcome the housing measures announced in Budget 2024 which deliver some of PII’s key asks on housing.

PII Director, Dr. David Duffy stated: "The extension of the Help-to-Buy scheme to end 2025 provides certainty and support for many first-time buyers of new home. The measures to help stop the flow of landlords from the market are a positive first step. However, their scale means they are unlikely to have a significant impact – a major review of the taxation of rental income should be one of the actions that arises from the recent rental sector strategy review undertaken by the Department of Housing.”

PII welcome the extension of the liability date for Residential Zoned Land Tax (RZLT) by one year. This time should be used to address issues that have emerged in the RZLT mapping process.

The National Infrastructure, Climate and Nature Fund will provide important stability to the construction sector and should help the sector retain and attract skills and labour. The increase in the capital budget for social and affordable homes is also welcome.