Two local authorities in the capital have announced proposals to reduce their development levies in a bid to encourage developers to commence work on development properties.
Dublin City Council plans to reduce the level of contributions for residential development from €156.62 per sqm to €115.21 and the levy for industrial and commercial projects from €127 per sqm to €93.42.
Fingal County Council has also proposed to reduce the development contribution for residential development from €143 per sqm to €105 while reducing levies for industrial and commercial projects from €111 per sqm to €82.
Both South Dublin County Council and Dun Laoghaire Rathdown Council are due to announce their intentions shortly and may follow suit with the reductions.
It is hoped the reductions could help increase interest in the development land market in Dublin and surrounding areas.