Owners of buildings build before 1915 located in Galway inner city will be able to claim 100% tax relief on their refurbishment over 10 years. The condition is they need to be their private home. The relief is targeted at owner-occupiers rather than property developers.
The Galway City Council will provide assistance to those who wish to make an application under the scheme, which then goes on to be handled by Revenue.
For more details please visit Property tax break Connacht Tribune.
New Daft.ie Rental Report is out today.
There is no surprise as to results of the report: permanent shortage of supply in rental property market.
Commenting on the report, Ronan Lyons, economist at TCD and author of the Daft Report, said: “Over the last ten years, the number of households renting has grown rapidly but a renter today finds themselves with less choice on the market than at any other time since 2006. This extreme shortage of supply is at the heart of not only rising rents and house prices but also issues around working homeless, student accommodation shortages and a lack of options for those in mortgage arrears. Solving the lack of housing will require initiatives to moderate the high cost of building homes in this country and completely reforming the way social housing is funded.”
Rents nationally are 8.2% higher on average than last year. In Galway City rents increased by 7.4% and in Galway County by 10.7%.
According to the same report there were fewer properties for rent nationwide on May 1 than at any point since 2006.
daft.ie Rental Report, Q1, 2015 – An infographic by the team at daft.ie Rental Report
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