Here, in Ireland, the cost is pushed up mostly by planning. There's plenty of space, but due to planning (mostly limited by NIMBYs and apparently professional objectors), it is difficult to actually get approval for anything.
There's plenty of space and myriad of old houses in a state of decomposition, but only houses can be built, and apartments are scarce. People are going into bidding wars where you need to throw an extra 20% just to win the bid.
It certainly isn't the cost of materials or labor costs.
There's plenty of space and myriad of old houses in a state of decomposition, but only houses can be built, and apartments are scarce. People are going into bidding wars where you need to throw an extra 20% just to win the bid.
It certainly isn't the cost of materials or labor costs.