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Money For Nothing

Almost 1,000 Homes Leased From Investment Funds For Social Housing.

Stock image: Shutterstock

The leases average 25 years in duration.

Almost 1,000 homes in Dublin have been leased from investment funds and property developers for social housing.

The Irish Times reports that the county's four local authorities are setting the properties in leases up to 25 years in length.

The Government announced plans to clamp down on so-called cuckoo funds earlier this year, by increasing stamp duty to 10 percent for investors bulk buying property.

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