The cost of building apartments

[Brendan Burgess]

Good article by Gavin Daly in the Sunday Times

"According to Linesight, a quantity surveying firm, the average construction cost for an apartment is €2,100 per sq m.
Cost for a 3 bed unit
Construction: €189,000
Site cost: €75,000
Car parking space: €25,000
Social housing and other levies: €40,000
Professional fees: €20,000
Total before VAT, finance and profit: €350k

VAT at 13.5%
Developers are paying up to 15% interest

All told there would be little change out of €500,000

By contract a three bed semi-d costs €330k to build in Dublin according to the SCSI"

 

[Bronte]

This doesn't make sense to me. Not when you need less site space to build many apartments compared to a house.

 

[dereko1969]

The cost of providing a car park space is nowhere near €25,000! They might charge that for it but the cost is not that.