New 2-bedroom apartments are for sale in Liverpool from £170,000 - £280,000, or from about €200,000 to €330,000.
Yet we are told that it costs in excess of €500,000 to build an apartment in Dublin.
Steel, cement and timber are internationally traded commodities, so there should not be dramatic differences in these costs.
Minimum floor areas and labour costs are somewhat higher in Ireland than in the UK, but this isn’t enough to explain 50% higher costs.
What explains the higher costs? And what can we do to drive them down, so as to make the construction and sale of apartments viable?
Site costs?
Costs of finance?
15% desired developer profit margins? [note that this is separate to the builder's margin]
Yet we are told that it costs in excess of €500,000 to build an apartment in Dublin.
Steel, cement and timber are internationally traded commodities, so there should not be dramatic differences in these costs.
Minimum floor areas and labour costs are somewhat higher in Ireland than in the UK, but this isn’t enough to explain 50% higher costs.
What explains the higher costs? And what can we do to drive them down, so as to make the construction and sale of apartments viable?
Site costs?
Costs of finance?
15% desired developer profit margins? [note that this is separate to the builder's margin]
