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.
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.
Government still wants funds in housing market but not at any price Ministers and officials wary of chasing away source of funding needed for new projects
Thu, May 6, 2021, 18:00 Updated: Thu, May 6, 2021, 22:22
Mullen Park estate in Maynooth, Co Kildare, where a multinational investment company has bought 115 homes. Photograph: Colin Keegan/Collins
As the Government mulls its options on restricting the bulk purchase of family homes by investment funds, Ministers and senior officials are wary of chasing away a source of funding for desperately-needed new housing projects.
While Government has accepted in the last 24 hours the political necessity of stopping investment funds and trusts from buying outright estates of family homes, it will not, according to people involved in the process, shut out the funds from the housing sector completely. The Government wants the funds to continue their investments in Irish property, “to finance developments that might not othe
Tanaiste Leo Varadkar says outright ban on investment funds buying homes would be a mistake
Leo is facing intense scrutiny to put a stop to “bloodsucking” cuckoo funds locking first time buyers out of the market
The video will auto-play soon8Cancel
Play now
Want the latest political news and analysis delivered straight to your inbox? Sign up to our FREE newsletter Invalid EmailSomething went wrong, please try again later.
Sign me up!
When you subscribe we will use the information you provide to send you these newsletters. Your information will be used in accordance with ourPrivacy Notice.
Thank you for subscribingWe have more newslettersShow meSee ourprivacy notice
Paul Hosford: Rushed legislation amid paltry scrutiny could leave us all at sea
The Convention Centre, Dublin, host of reduced sittings of the Dail. Allowing a handful of TDs into a 2,000 seater auditorium in the name of viral safety when the top deck of the room, reserved for the media, may as well be in Carlow for its closeness to the action, is ludicrous, says Paul Hosford. Photo: Sam Boal / RollingNews.ie
Tue, 04 May, 2021 - 07:30
Paul Hosford, Political Correspondent
If you are working from home during this pandemic, there will be something of a tacit acknowledgement that you are working below your regular level of productivity.