Cairn Homes, Ireland's most active apartment builder, anticipates reduced building costs and selling prices as new guidelines are implemented. The Government's approval allows for the completion of around 50,000 apartments with planning permission using these guidelines. CEO Michael Stanley highlighted that these changes could lead to lower renting costs for affordable housing. Despite a decrease in unit sales compared to the previous year, Cairn Homes reported €280m in revenue for approximately 700 units in the first half of the year, fueled by strong demand from first-time buyers.
Michael Stanley, the company's CEO, stated that as Ireland's 'most active apartment builder,' he welcomed regulatory changes by Housing Minister James Browne that would reduce building costs.
These guideline changes will lower selling prices for future Croí Conaithe developments and Local Authority Affordable Purchase Schemes, according to Mr. Stanley.
About 50,000 apartments with planning permission can be completed under the new guidelines, as noted by the Government.
Cairn Homes reported a revenue of €280m in the first six months of the year from the sale of approximately 700 units, demonstrating strong demand.
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