That's according to Cork Chamber who are leading a call for immediate Government intervention on the lack of private sector apartments in Cork city.
Chamber fears the city will be compromised unless the issue of apartment viability is not urgently addressed as much of the growth plans for the city are centred around the Cork Docklands Plan which aims to create 29,000 jobs.
Speaking to RedFM News, Conor Healy of Cork Chamber says there is a major challenge in the development of residential accommodation and apartments:
"Something needs to be done by government, and it needs to be significant measures to reduce the cost levels in terms of development, reduce the impacts in terms of the various tax related charges that are there such as VAT, reduce those for a period of time, make changes to the legislation and allow that apartment development to happen."
