Govt. May Ban Bulk Purchase Of Homes By Investors.

Thursday, 6 May 2021 10:39

135 homes in Maynooth estate purchased by Round Hill Capital.

The Government is considering banning international investors from buying family homes in housing estates.

It’s understood the Housing Minister is looking at various emergency options after investors made large purchases in estates - 135 homes in Maynooth, and 115 homes in Dublin

The Taoiseach has described the situation as unacceptable in the Dáil yesterday.

Louise Bayliss from Focus Ireland says it’s resulting in people getting stuck renting.

We know exactly what is stopping first time buyers from being able to get on the property ladder 🚨 @duncansmithtd has called on the Taoiseach to legislate to protect homes from insidious Cuckoo funds and REITS purchasing entire estates 🌹🏠 pic.twitter.com/5k8C5f1sPm
— The Labour Party Ireland (@labour) May 5, 2021

International investors could be banned from bulk buying homes in housing estates.

Labour’s Housing spokesperson Rebecca Moynihan says quick action is needed.

There has been proposals to reserve a certain amount of new homes for first time buyers.

Lecturer in Housing Studies at DIT Lorcan Sirr believes that on its own isn't enough

Government committed to ensuring market is not dominated by investors, Minister says https://t.co/BLKmzCiqCP
— The Irish Times (@IrishTimes) May 6, 2021

Tánaiste, Leo Vardakar, has been speaking to Kildare Today.

He expects resolution in the short term, but says reserving proportions of developments may not be practical.

Rows between Paschal Donohoe and Pearse Doherty at the Finance committee over the tax breaks for REITS.

'Can you hold this conversation for an election maybe?' asks Chairman John McGuinness
— Seán Defoe (@SeanDefoe) May 6, 2021

Political Correspondent Seán Defoe says invited into Ireland by tax breaks from Michael Noonan in the last decade, investment funds buying up housing here is nothing new.

Speaking on Thursday afternoon, The Housing Minister Darragh O'Brien said he has put pressure on Fine Gael Finance Minister Paschal Donohoe to come up with solutions:

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