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60% of people accept the need for co-living rental model in Ireland

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61% of Irish taxpayers agree that there is a need for a co-living rental model in Ireland, subject to certain criteria

That's the message coming from the latest Taxback.com Taxpayer Sentiment Survey which collected the views of over 2,500 taxpayers nationwide in Ireland.

The co-living model, which has been embraced in many major cities, is similar to student accommodation but aimed at young, working professionals. The accommodation provides hotel-like, en-suite bedrooms with shared, communal living areas.

The introduction of the co-living model has been a hot topic of debate in recent times. The survey results indicate that support from the public for the new housing concept is mixed with some people giving their backing with reticence, while others believe it will only work in the capital.

"It seems that people are somewhat open to seeing how co-living could provide accommodation to a certain cohort of people who need it," says Joanna Murphy, CEO of Taxback.com.

"While 39% of people believe that the concept of co-living represents a 'backward step' for the housing market, in contrast, 21% of respondents agreed that co-living seems like a 'very workable solution' with a further 33% appreciating the fact that it 'may have a place' within the landscape of accommodation options."

The average Irish tax refund is €1076.17

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Ms. Murphy believes that the success of co-living in various countries around the world may be the reason why so many people are willing to try it out in Ireland.

"The co-living concept has been quite successful in other European and US cities but to date, it has come in for some criticisms from various commentators in the Irish press.

"Whether or not these criticisms are warranted remains to be seen, but it seems from our survey that the Irish public are willing to hold fire on condemning these new players in the Irish property market – with a significant majority (61%) saying that they recognise that this type of housing solution has a place in some areas."

Permission was recently granted for a 208-bedroom co-living scheme in Dún Laoghaire, Co Dublin

 

While the Irish public's feelings towards co-living could perhaps be described as warm, the same cannot be said of their attitude towards certain overseas investors in Ireland's property market.

"Our survey participants make no bones about their feelings on so called 'cuckoo funds', with the vast majority (71%) asserting their agreement that more Government intervention and control over these type of investment activities is warranted. Just 16% were on side with 'cuckoo fund' investment, agreeing that we need the additional capital that these funds inject into the Irish property market to house our growing population," says Ms. Murphy.

"The name that has been given to these property investors and developers has immediate negative connotations – like a cuckoo, it is argued, they push FTBs from the nest. So perhaps it's the dissemination of this type of information into the public domain that might be one of the reasons that people seem to disfavour their presence here. In addition, it's difficult for people to decipher the myriad of commentary they see in the press, as many of those giving opinion have some form of vested interest.

"However, given the complexity of Ireland's housing needs, and its housing markets, there will undoubtedly be many different stones turned in solving the current shortage. It's been clear to date that a one-size-fits-all model won't cut a working path to meeting the additional demand for housing in the country, and so, new and alternative models and concepts such as these could actually be part of the wider solution going forward."

 

Taxback.com taxpayer sentiment survey results

 

60% of Irish People Not Claiming Medical Expenses

Thousands of Irish people are entitled to tax relief each year. And yet, Taxback.com have discovered that only four in every 10 Irish people claim tax relief on their medical expenses – one of the most common types of tax rebate available.

Whether you're a PAYE (Pay as You Earn) or self-assessed worker, you're entitled to claim tax relief at 20% on the qualifying medical expenses that you've paid for. Examples of eligible medical expenses include prescriptions, doctor's fees, and specialist dental work.

 

You can also go back four years to claim a refund on expenses you incurred in previous years.

The fact that so many people are missing out on their entitlements can be put down to a number of factors – from of a misunderstanding of tax entitlements to a belief that the process of claiming what they're owed will be too complicated or time consuming.

When you apply with Taxback.com you are guaranteed to receive your maximum legal tax refund.

The average Irish tax refund is €1076.17

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Applying is really easy too. You won't have to worry about any tricky forms or boring tax paperwork. Our team will take care of all of the work and transfer your refund straight to your bank account.

The average PAYE tax refund is €1076.

Apply for your refund here today.

About The Author

Mark Corcoran - Digital Content Executive @ Taxback.com

Mark is the Digital Content Executive at Taxback.com. Since graduating from Griffith College Dublin with a degree in Journalism and Visual Media, his work has been published both in print and online.

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