A key opinion leader in the property industry, Tom Dunne, has signalled the need to consider a property tax.
Addressing the Irish Property & Facility Management Association (IPFMA) annual lunch, Mr Dunne said: "We all need to think anew and re-examine our economic principles to find and, no doubt, accept some unpleasant solutions.
“Perhaps we will even have to have property taxes.”
The IPFMA chairman and DIT lecturer also advised members that new approaches to cost savings on commercial buildings are essential for survival in these times.
“Surely cost savings can be achieved and cost base flexibility can be increased by more professional approaches to property and facility management.”
A new code of practice for residential managing agents is due to be introduced shortly.
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