Since it was first announced a couple of weeks ago, the Government has, it seems, struggled to sell the virtues of its Croí Cónaithe fund for owner-occupied apartments. The proposed scheme, which has had €450 million earmarked for it over the next three years, was still dominating the front pages and airwaves as late as last Friday, following remarks from Michael O’Flynn at the ULI Conference on Thursday. At its heart, the scheme is simple enough: The market value of apartments is below their construction costs, so the State is offering to plug the gap. It has become, however, an…

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