Property investment companies are making mass-purchases in estates. Photograph: The Irish Times
During the course of the day yesterday, one issue dominated. It was the extraordinary phenomenon first reported in the Business Post on Sunday of global property investment companies buying up entire estates of houses in suburban areas.
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Point is, up to this, investment companies bought up entire estates with the governments blessing and favourable tax incentives while blocking irish couples buying their homes
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Govt further examining investment fund housing issueThe Taoiseach has pledged that the Govt will immediately deal with what he termed the 'unacceptable' situation where first-time buyers are being forced to compete with institutional investors for homes As if he didn't know already.... Been happening for years When tho? Next year? Next century? Progressive government have made a balls of the housing situation. Once housing the population was handed to private builders greed set in. Simple really Crazy situation
Source: rtenews - 🏆 1. / 99 Read more »
Darragh O'Brien says issue of investment funds buying up estates is 'complex' | JOE.ieIt comes after an estate of 112 houses in Maynooth was purchased by an investment group He had a different tune a couple of days ago, till the heat came on 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!
Source: JOEdotie - 🏆 31. / 51 Read more »
Investment funds buying whole estates is 'undesirable' and the government needs to act, says Leo VaradkarMinister Darragh O'Brien tells thejournal_ie that a Bill he introduced while in opposition that would see 30% of all housing in new developments ring-fenced for first-time buyers is 'still valid' This fella is actually worse than Eoghan Murphy. Its unacceptable, says taoiseach, and finance minister, and gov politicians. And who's allowing it to happen, the taoiseach, the finance minister, and gov politicians. It is unacceptable that they will not pay income on the rent they get from it or on the Capital Gain and it’s actually immoral that they are increasing house prices by bulk buying of avail stock.
Source: thejournal_ie - 🏆 32. / 50 Read more »
Government to block investment funds from buying up housing estatesMove has been agreed between three coalition parties, sources say Let's see if this will pass as quickly as the rest of the bills watch this space💤 Apartments need to be free of these funds and they need to pay tax like everyone else ! Gov believes they should not be driven out as they play an important role in supplying new builds.. So we ll have an investigation, report, debate, then decide 20 % must go on the market, then continue to pretend Ireland has been sold and we are at the complete mercy of outsiders
Source: IrishTimes - 🏆 3. / 98 Read more »