Oireachtas Joint and Select Committees
Thursday, 1 June 2023
Joint Oireachtas Committee on Housing, Planning and Local Government
General Scheme of the Land Value Sharing and Urban Development Zones Bill 2022: Discussion (Resumed)
Mr. Conor O'Connell:
It is certainly an inflationary one.
As I understand it, this is not a land activation measure but, as the Chair rightly pointed out, a measure to pay for the provision of public infrastructure. As my colleague Mr. Fitzpatrick pointed out, there are already several land capture mechanisms in place to do that. Regarding land, there is sometimes a mystery that forcing down the price of land will suddenly deliver greater viability regarding housebuilding. The residual value of land per unit is 5% or 10% in most locations. As such, measures are being put in place to increase or potentially increase housing output that would ultimately have a minimal effect on land prices or viability. One of my colleagues will answer the other questions.