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.
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A global investment company has acquired a new housing estate in North Dublin, with the aim of renting the properties.
Round Hill Capital purchased 112 houses in Bay Meadows, Dublin 15.
The first phases of the two, three and four bedroom homes are due to be completed this month with the full development to be done by early 2022.
None of the properties will be up for sale in the housing market.
Round Hill Capital also recently purchased the majority of a large housing estate in Maynooth, Co Kildare.
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Irish government policy is incentivising property funds to buy up entire housing estates, say opposition
Round Hill Capital bought 135 homes at a new development in Kildare. By Ian Curran Tuesday 4 May 2021, 3:54 PM 8 hours ago 17,708 Views 51 Comments
Sinn Féin housing spokesperson Eoin Ó Broin today
Image: Leah Farrell
Image: Leah Farrell
SOLUTIONS TO THE issue of global investment funds buying up entire estates to be placed on the rental market can be found in the tax code, Sinn Féin housing spokesperson Eoin Ó Broin has said this afternoon.
Last Sunday, the Business Post reported that Round Hill Capital and its partner SFO Capital, have just inked a deal to buy 135 of 170 houses at the Mullen Park estate in Maynooth in Co Kildare.
Traffic control flagger sign
Sonora, CA The Tuolumne Utilities District warns that there will be traffic delays on Racetrack Road today.
Crews will be installing sewer infrastructure between Snell Street and Bay Meadows Drive. Flaggers will be directing traffic and up to 10-minute delays can be expected. Travel with caution in the area. The work will run today from 7:30am until 3:30pm.
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