O'Brien Open To Banning Invest...

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O'Brien Open To Banning Investment Funds Buying Up Irish Homes

Niall Colbert
Niall Colbert

12:34 PM - 6 May 2021



The Housing Minister says he's "open to looking at" banning investment funds buying up Irish homes.

Minister Darragh O'Brien says he's currently considering all options when it comes to tackling the issue.

Taoiseach Micheál Martin has promised immediate action after an investment fund block bought an estate in Kildare.

Yesterday, he labelled it as an "unacceptable" situation.

Darragh O'Brien says he expects proposals to be brought forward next week to stop such funds from buying up entire housing estates.

The Minister said ultimately the Department of Finance will need to bring forward proposals to curb the tax breaks property funds get.

Minister O'Brien says the government is taking the problem seriously, "What I want is something that is sustainable, legal and effective,” he said. “We have a constrained market already because of COVID and the idea that, in a housing market where we are going to have maybe between 14,000 to 16,000 homes completed this year, that we can have funds coming in buying up family homes from under the noses of first-time buyers is unacceptable.

“So, whatever measures are needed to take place, up to and including a ban, I am open to looking at.

“I am just waiting for those options to come back.”



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Homes Housing Investment Funds Irish Kildare

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