7 October 2025
7 October 2025
Implementation of enhanced policy environment is critical to delivering increased housing
Commenting on measures announced in Budget 2026, Stephen Garvey, CEO, Glenveagh commented:
“Glenveagh welcomes the Government’s focus on the practical measures that will support the delivery of critically needed homes.
We welcome the reduction in the VAT rate for completed apartments to 9%. This Government has already made significant moves to increase the viability of apartments. Apartments are a key part of the housing solution, and this measure will make them more feasible to build. Furthermore, from a public accounts perspective, VAT income on more apartments will ultimately benefit the exchequer. This is in addition to the greater and more sustainable employment opportunities thanks to increased construction activity. And of course, we will have more people in more homes.
This announcement builds on the momentum created by recent policy shifts, including revised apartment guidelines, the review of rent pressure zones, and updates to the National Planning Framework and National Development Plan. Such early and decisive action by this Government is commendable, especially given the challenging global context.
It’s evident that this Government is taking a cross-departmental approach and this is to be welcomed. Now, however, implementation of these policies is key. In order for this to start taking effect, the administrative side of the Government needs to follow this through in their implementation as a matter of urgency.
On the back of this progress, the focus now on legislation to balance the use of judicial reviews with the common good is hugely important. The significant delays to building critical infrastructure and indeed homes must be addressed.”