Plans To Block Investment Fund...

News

Plans To Block Investment Funds From Buying Out Housing Estates Go Before Cabinet

Kim Buckley
Kim Buckley

7:52 AM - 18 May 2021



Proposals to restrict investment funds block buying new housing developments will go before cabinet ministers this morning.

The departments of finance and housing have been working on the measures since a public backlash to the selling off of an entire housing estate in Kildare.

The government approach will come in two parts.

One is on the planning end where a certain amount of new developments will be reserved for the private market.

Talks were still continuing last night as to whether this would be defined as first time buyers or owner-occupiers.

This is to ringfence a portion of developments that can't be bought by institutional investors.

However, it can only apply to new planning applications, which means it will be years before the impact of those changes will be felt.

The measures are likely to be added to the Affordable Housing Bill currently passing through the Oireachtas.

The second is the taxation side, where a hike in stamp duty for investment funds buying property has been considered.

Tax breaks on the profits such funds make through rent and the sale of property were also being examined.

But the government doesn't want to scare these funds off entirely, believing they have a role to play in the likes of apartment buildings.

So the restrictions on them will be linked to housing density, something that could prove tricky to quantify in new, mixed development estates where there are houses and apartments.

 



Read more about

Affordable Housing Bill Cabinet Housing Investment Funds Tax

You might like

Live: Title

Now playing

00:00:00 / 00:00:00
Added to queue
Removed from queue

On Air

Share

Share

Up next

Episode title
Show
Duration

You currently have no podcasts in your queue.

Go to podcasts

On Air

Overnight

Overnight

12 AM-5 AM

Share

Up next

Early Breakfast

Early Breakfast

5 AM-7 AM

Share

The Ian Dempsey Breakfast Show

The Ian Dempsey Breakfast Show

7 AM-9 AM

Share

Dermot & Dave

Dermot & Dave

9 AM-12 PM

Share

Mairead Ronan

Mairead Ronan

12 PM-2 PM

Share

Fergal D'Arcy

Fergal D'Arcy

2 PM-4:30 PM

Share

The Last Word with Matt Cooper

The Last Word with Matt Cooper

4:30 PM-7 PM

Share

Pamela Joyce

Pamela Joyce

7 PM-10 PM

Share

Ed Smith

Ed Smith

10 PM-12 AM

Share

Overnight

Overnight

12 AM-5 AM

Share

00:00:00 / 00:00:00

Share on