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Govt. May Ban Bulk Purchase Of Homes By Investors.

Stock image: Shutterstock

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.

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

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.

 

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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