Council in negotiations to buy over 140 Kildare homes prior to private investment company coming in
Talks ceased
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Kildare County Council had been in discussions with the developer of a controversial Maynooth estate to acquire over 140 homes for social housing, prior to it being bought by a private investment company.
Mullen Park was catapulted into the national headlines last weekend after a number of first time buyers expressed their dismay when they were told the houses they had planned to buy in the estate were being purchased by an investment company with the aim of renting them out.
In response to a query from Cllr Aiden Farrelly at this morning s Clane Maynooth Municipal District, the council explained; In the period of 2019 to 2020 the Housing Agency facilitated negotiations with the developer of Mullen Park to acquire units for social housing.
Representative group suggests investors are part of the solution to housing crisis
Tánaiste Leo Varadkar said in the Dáil yesterday that it would be “ideologically extreme” to ban investment on certain types of housing. By Press Association Friday 7 May 2021, 8:35 PM Fri 8:35 PM 18,672 Views 58 Comments
Image: Eamonn Farrell/RollingNews.ie
Image: Eamonn Farrell/RollingNews.ie
AN INVESTORS GROUP has argued that institutional investors are “part of the solution, not part of the problem” to solving the housing crisis in Ireland.
Irish Institutional Property (IIP) has suggested investment is critical to economic progress and provides capital that is not available from other sources.
Government asks AG about legality of ban on housing estate bulk-buys Darragh O’Brien says tax treatment of investment funds was long-term resolution
about 9 hours ago Updated: about 8 hours ago
New homes at Mullen Park, Maynooth, Co Kildare. Round Hill, a multinational investment company, is in discussions to buy 115 homes at the development. Photograph: Dara Mac Dónaill
The Attorney-General is being consulted by Government to ascertain if its proposal to prevent so-called cuckoo funds from buying up entire housing development in the suburbs will amount to a breach of Constitutional rights on property.
Minister for Housing Darragh O’Brien and Minister for Finance Paschal Donohoe are working on options to address the practise where large international investment funds have moved into the residential housing market.
Tánaiste Leo Varadkar said it would be “ideologically extreme” to ban investment on certain types of housing Michelle Devane, PA 06 May, 2021 15:38
An outright ban on investment funds buying complete housing estates would be “wrong” and a “mistake”, the Dáil has heard.
Tánaiste Leo Varadkar said it would be “ideologically extreme” to ban investment on certain types of housing in the country.
He added that investment funds have a “role to play” in the property market.
His comments come following controversy earlier this week over a housing development in Maynooth, Co Kildare, where 135 of 170 houses at the Mullen Park estate were purchased by two investment funds, to be put up for rent.
Outrage over Maynooth homes as Social Democrats bill comes before Dail today
Concern
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The Social Democrat s housing bill comes before the Dáil today, which aims to encourage more social housing to be built and bought rather than being leased by local authorities.
Social Democrat Co Leader, Catherine Murphy says : This evening the Social Democrats will be putting forward a bill to enhance the provision of social and affordable homes. This bill, put forward by my colleague Cian O Callaghan, will end the disastrous policy of long-leasing social housing under Part V of the Planning and Development Act. Last week we all saw the carnage being caused by cuckoo funds when Round Hill Capital block-purchased 135 family homes in Mullen Park, Maynooth. Since 2018, investment funds have spent €4 billion on residential property in Ireland. Ordinary buyers, who have to scrimp and save for years for a deposit, cannot compete.