This Bill would create transparency around land prices and developers’ margins
Social Democrats Housing Spokesperson Cian O’Callaghan has launched a Bill that would create a Land Price Register for the first time.
Speaking in advance of introducing his Bill in the Dáil today, Deputy O’Callaghan said:
“If the Government is serious about tackling land hoarding, land speculation, and land price inflation, they need to publish data on who is buying development land, how much they are paying for it, and how long they are holding it.
“The bill that I’ve published today creates a publicly accessible register of land transactions that will include the price, location, size, zoning and ownership details.
“This Bill would create transparency around land prices and developers’ margins. When it comes to construction costs, we have clear data on labour costs, building materials and professional fees. However, without knowing the price developers pay for land, we cannot independently assess the breakdown of construction costs and developers’ profit margins.
“This Bill would also help to tackle the cost of delivering housing. The cost of development land is one of the key reasons that housing in Ireland is so expensive. However, at the moment, we have no clear independent data on land prices and the rate of land price inflation. This is a key missing metric.
If we want to tackle the cost of land, and implement effective policies to tackle land speculation, we need accurate data. The Land Price Register provided for in this bill will provide that.
“Land hoarding and land speculation are two of the key causes of the housing crisis. According to the Government, 8,000 hectares of zoned land is sitting unused. That is enough land to build 250,000 homes. A land price register would provide the data required for setting a land hoarding tax at an effective level.”
19 October, 2021