SCSI calls for ‘long-term’ budget planning to drive down housing costs
The Society of Chartered Surveyors Ireland (SCSI) has urged the government to implement long-term budget planning to
address the issue of affordable housing. The SCSI believes that an effective long-term strategy is necessary to
drive down housing costs and ensure sustainable housing solutions for the future.
The SCSI’s call comes amid a worsening housing crisis in Ireland, with skyrocketing property prices and a shortage of
affordable homes. The organization emphasizes the need for proactive measures that go beyond short-term fixes.
Rising property prices
Ireland has been experiencing a significant increase in property prices in recent years. This trend has made it
increasingly difficult for people to enter the housing market and has resulted in a growing number of individuals
struggling with affordability issues. Without intervention, the situation is likely to worsen, leading to further
social and economic consequences.
The SCSI suggests that long-term budget planning should focus on addressing the underlying factors that contribute to
rising property prices. This can be achieved through measures such as increasing the supply of affordable housing,
promoting sustainable development, and implementing effective taxation policies to discourage speculation.
By strategically allocating funds to tackle these issues, the government can create a more stable and affordable
housing market, allowing individuals and families to find suitable homes at reasonable prices.
Importance of sustainable housing solutions
The SCSI emphasizes the need for sustainable housing solutions that take into account long-term societal and
environmental considerations. Building environmentally friendly and energy-efficient homes can help reduce carbon
emissions and contribute to the fight against climate change.
Additionally, investing in sustainable housing can lead to long-term cost savings for homeowners, as energy-efficient
properties generally have lower utility bills. This can alleviate financial burdens and improve overall housing
affordability.
Long-term budget planning should, therefore, prioritize funding for sustainable housing projects, including the
development of green infrastructure and the promotion of renewable energy sources.
The role of taxation policies
Taxation policies play a crucial role in shaping the housing market. The SCSI argues that a strategic approach to
taxation can help curb property speculation and discourage speculative investment, which often drives up housing
prices.
Introducing higher taxes on vacant or underutilized properties can incentivize property owners to make better use of
their assets or sell them, increasing the overall housing supply. Furthermore, implementing progressive property tax
schemes can ensure that those who can afford higher-priced properties contribute proportionately to the housing
market.
By examining and reevaluating existing taxation policies, the government can create a fairer and more stable housing
market while also generating additional revenue to invest in affordable housing initiatives.
The SCSI’s call for ‘long-term’ budget planning to drive down housing costs highlights the urgency of addressing the
affordable housing crisis in Ireland. Through a strategic approach that targets the root causes of rising property
prices, promotes sustainable housing solutions, and implements effective taxation policies, the government can pave
the way for a more inclusive and affordable housing market.
It is crucial for long-term budget planning to prioritize affordable housing and ensure that future generations have
access to suitable homes at reasonable prices. By taking proactive measures, Ireland can work towards resolving the
housing crisis and achieving a more sustainable and equitable society.
