Investment funds outbidding by €80,000, in some cases.
Investment funds have outbid affordable housing bodies on more than 400 homes in the last month.
The Business Post reports the bodies have been outbid by up to €80,000 per house in some cases.
More than 400 units snapped up by investment funds in the past four weeks, @obraonain and @killianwoods report.
— Business Post (@businessposthq) May 9, 2021
https://t.co/oeNBmQxfRB
The government is working on plans to stop international funds buying up completed housing estates.
That could include more than half of units in residential developments being ringfenced for private buyers.
Business Post reporter Killian Woods says first-time buyers are being frozen out at the moment:
Speaking on Sunday afternoon, Lecturer in Housing at Technological University Dublin, Dr. Lorcan Sirr, says funds see the Irish rental market as incredibly lucrative:
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