Cork Property Developer Hopeful Budget 2021 Will Include Increased Financial Support For First Time Buyers

Budget 2021 will be published on Tuesday

Michael O’Flynn of the O’Flynn group says supply and affordability issues in Ireland’s housing market need to be addressed to allow young people to get on the property ladder.

Speaking to RedFM News, he said joint equity schemes, lowering VAT rates for first time buyers, and extending the Help to Buy scheme are all measures that the Government could adopt to help the situation.

Michael O’Flynn added that rising rent costs in Cork City Centre is damaging the market Leeside, and that building affordable homes outside of the City Centre would cause some much needed movement.

However, he added that he’s hopeful these issues will be addressed in Budget 2021, and that now is the time to get building:

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