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Action Needed To Stop Investment Funds Buying Up New Builds - Tanaiste

The Tanaiste believes the government will have to act to stop foreign investment funds from buying u...
Niall Colbert
Niall Colbert

12:28 PM - 5 May 2021



Action Needed To Stop Investme...

News

Action Needed To Stop Investment Funds Buying Up New Builds - Tanaiste

Niall Colbert
Niall Colbert

12:28 PM - 5 May 2021



The Tanaiste believes the government will have to act to stop foreign investment funds from buying up entire estates of newly built homes.

Leo Varadkar's thoughts come after a single investment fund bought up two entire estates in Dublin and Kildare.

The properties have been bought up with the sole purpose of renting out to tenants.

Tánaiste Leo Varadkar has said the government will need to intervene to stop this "undesirable" scenario from happening.

He's said "I know there's been a lot of concern expressed recently about investment funds buying up whole housing estates. I think that's undesirable. The government is going to act on this."

The Tanaiste said Ministers are working on the issue at the moment.

Legislation is being worked on to reserve a certain amount of new builds for first-time buyers.



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First-time Buyers Homes Housing Investment Funds Tanaiste

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