Cillian Woods

Yeah, good.

Just to set the scenes, but there's, yeah, Creecon is what, we're talking about Creecon as cities here and there's Creecon as towns.

There was two wings of this scheme, which was both aimed at trying to get, one was getting apartments built, the other one was bringing vacant homes in towns back to use.

It's kind of confusing to have two completely different schemes.

Okay, we're talking about the city's one.

But the city's one is.

Yeah, so it is another case of the government, I suppose this was a scheme introduced to try and chase apartment costs in a way that maybe they wouldn't put it that way in their own description of it.

But apartment costs have gone through the roof.

That's from a number of different reasons.

That's because building them has gotten very expensive just for raw materials.

Borrowing costs have gotten very expensive.

Interest rate hikes also made them very, very expensive to build.

Is it because the builders are paying too much money for the land?

That might be the case now.

There's definitely apartments still being built on land from back in the nowadays when some of the big builders would have gotten very good deals on the land to build on, shouldn't be facing those high building costs as opposed to land.

But really, they say it's the raw materials, it's the inputs that are really going up and flying up.

And they can see that in some of the paperwork produced for the department showing that.

I think in Dublin now, Dublin city centre, central Dublin, as opposed to Dublin city central, we're looking at about 605,000 to build an apartment in Dublin central, not city centre in central Dublin, but in the canals.

And then beyond that, like outside the M50, we're looking at about 550,000 to build an apartment.

That's huge money, isn't it?