80% of Maynooth housing estate purchased by investment trust.
The government has been criticised for acting too slowly when it comes to dealing with cuckoo funds and international investors.
Round Hill Capital paid €53 million for 135 out of 170 homes in Mullen Park, Maynooth.
Tánaiste Leo Varadkar told the Dáil last night it would be ideologically extreme to entirely ban such investors buying Irish property.
However, Housing Minister Darragh O'Brien says he will consider such a measure.
Sinn Féin's Housing spokesperson, Eoin O'Broin, has been speaking to Kildare Today.
He says, in tandem with reforms of the tax system, planning should be changed to enable local authorities to make decisions based on whether homes are for sale, or for rent.
Deputy O'Broin joined Clem Ryan on this morning's edition of the programme, in a piece which begins with a reprise of an interview on this matter with Tánaiste Leo Vardakar on Thursday's Kildare Today:
Restricting funds from buying would boost the available supply to ordinary buyers by 50pc at a stroke of a pen. https://t.co/wjpqKQ4diM
— Irish Independent (@Independent_ie) May 7, 2021
Whilst, international investment funds are spending €53 million a week on average to buy up housing estates, according to the Irish Independent.
The Government is to seek legal advice from the Attorney General over how it can tackle the bulk buying of homes by so called 'cuckoo funds'.
An all out ban is being considered as well as new planning rules and taxation measures to make it less attractive for investors.
Assistant Professor of Constitutional Law and Property Law at Trinity College Rachael Walsh says taxation may be the fastest course of action.
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