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Opinion: Every government has a choice - this one could ban cuckoo funds from buying up Irish homes
Pitting first-time buyers against cuckoo funds is a recipe for disaster, writes Cian O’Callaghan of the Social Democrats. By Cian O Callaghan Thursday 22 Apr 2021, 9:02 AM 1 hour ago 6,235 Views 19 Comments Cian O Callaghan Social Democrats TD Dublin Bay North
LARGE INTERNATIONAL INVESTMENT funds and Real Estate Investment Trusts (REITs) – or cuckoo funds – are currently buying up houses and especially apartments en masse.
This is pushing up prices and putting new homes beyond the reach of many people.
According to the Construction Industry Federation, in
The apartments are costing the local authority an average of €2,000 a month each 19th April, 2021
The empty apartments in Herbert Hill are being leased from Realis, a German institutional investor. Picture DLR County Council
Seven luxury apartments, costing more than €2,000 a month, that are being leased for social housing in Dundrum have been left empty for 17 months.
In November 2019, Dún Laoghaire-Rathdown County Council agreed a deal to lease 87 apartments in the new luxury Herbert Hill apartment complex developed in Dundrum.
Based on figures released by the Department of Housing, an average rent of €2,000 a month is being spent on each apartment.
Dún Laoghaire-Rathdown County Council signed 25-year lease on 87 Dundrum apartments for use as social housing without seeking opinion other than developer’s on rent levels
Poet Martín Espada: "The imagination is absolutely critical to political activism" msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
While a comedic "Home Alone" sequel played in theaters, David and Sharon Schoo took a vacation, leaving their 9- and 4-year-old daughters alone for Christmas.