Baseline building costs in a bearish market?

So what should the baseline be?

For property in rural areas 20-30 miles for major employment sources.

I think apartments and duplexs should be coming in at around €100000. Land cost, say €8000, building costs 800ft @ €75ft=€60000, profit €10000, total is €78000, 13.5% VAT would still allow a bit for overruns, advertising etc.

What do people think?

Can’t see it ever dropping that low. At 800sqfeet I presume you’re talking about at least a 2 bed. Not sure what the average for a 2 bed Apt is in Dublin suburbia, maybe €300+K. Don’t think even Morgan whats his name is predicting nominal falls anywhere near this magnitude. The 10% set aside for the builders profit is also a bit on the unrealistic side…they wouldn’t even get out of the sack for that!

I am not referring to the greater Dublin area but outlying villages 30 miles from places like Limerick and Sligo.

Regarding a builders profit, if a guy is managing a scheme himself and paying himself a weekly wage then 10% on top is not bad. Suppose he’s the plasterer or blocklayer etc.