The cost of building a mid-range apartment has shot up by €27,000 during the Covid-19 emergency, according to a leading construction consultancy firm. It found that the hard costs of building a two-bed, standard spec, medium-rise suburban apartment is now €219,000. More than 50,000 new residential units are expected to be built between now and the end of 2023, the banking body said. This meant that although planning permission was granted for 26,151 residential units under the SHD process, over half of them were unable to go ahead because of judicial reviews. According to the report, 20,000 residential units, with 5,000 of them apartments, were completed in 2021.

Source: Irish Independent March 09, 2022 18:23 UTC