Darragh O'Brien says issue of investment funds buying up estates is 'complex' | JOE.ie

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It comes after an estate of 112 houses in Maynooth was purchased by an investment group

“We have to level the playing pitch for first-time buyers and I don't support investment funds buying up whole or sometimes large parts of housing estates that should be for first-time buyers, it's as simple as that," he said.O’Brien confirmed that he is examining a stipulation requiring a higher percentage of all new developments to be set aside for direct purchase by first-time buyers, adding that he believes the purchases are"a legacy issue".

"One reason for those funds being here, and it is a legacy issue, they've been here for a number of years, can be down to tax treatment," he added.O'Brien also said that the Government “had no line of sight in theThe Government came under fire earlier this week after an estate of 112 houses in Kildare was bought by an institutional investor.

Taoiseach Micheál Martin said that the purchase of completed housing estates by institutional investors is “unacceptable” and that the purpose of institutional investors was to “add supply, not to displace supply”. He added that the Government has to distinguish between “good capital and bad capital” when dealing with these companies.

 

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Anyone who believes this nonsense needs their head examined. Pbp & Sinn Fein have been pointing this stuff out for years and ffg have been accusing them of blocking them from building homes. Unbelievable gaslighting!

He had a different tune a couple of days ago, till the heat came on

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