Numerous developers have claimed that the cost of building new houses is prohibitive. Picture: Getty Leading Irish developers who recently claimed that house building is not profitable have made tens of millions of euros in profits in recent years. Stephen McCarthy, managing director of Astra Construction, told the recent House Building Summit that building homes was not a profitable operation in Ireland. “If house building was that profitable, there would be a lot more people doing it, but the fact of the matter is it’s not,” McCarthy said.... Subscribe from just €1 for the first month! Exclusive offers: