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Dáil
‹ Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation

Griffith Avenue homes sale

Summary

Deputy Ó Ríordáin raises concern that 343 homes in Marino are being sold to a vulture fund despite high rents and local unease. Deputy Ryan says the answer is more public-led delivery through the Land Development Agency, cost rental and market intervention.

The issue here, if we get beyond the sloganeering, is very real. In my community in Marino, there has been a discovery this week about a development on Griffith Avenue. When it was being proposed, there was a lot of internal debate in the community about its size and scale, which was making people uneasy. There was also a lot of sentiment in the local area that development was needed to house our people. We discovered this week that 343 of these units are being sold to a vulture fund. Young people are facing an average rent of €1,914. What are we supposed to do in this situation and how can we prevent it from happening again? When the Minister says, and I genuinely believe he agrees, that this is not something that should happen, how can we prevent it from happening? It is very real; it is happening right on our doorsteps.

Comment on this

The main way we prevent it from happening is by working with the Land Development Agency, particularly on public lands or lands the State has an ability to influence. We go into the market. That is why I keep coming back to cost rental as a fundamental strategic change in what we are doing here, in that we go into the market and start providing affordable rent and affordable purchase in a way that brings market prices down. That is what we are doing in government. We are implementing the Land Development Agency Bill 2021. I am working with all the public bodies under my Department's remit to see where we can get access to such land, especially land close to the centre of the city, whether on the north side or south side. That is the practical measure that allows us to increase supply. It requires change. Going back to what I said about changing policies, it is a new way of doing it, a different strand and a different way of seeing rental and public housing. It is public housing that is in the market but not subservient to the market.

Comment on this
Catherine Connolly An Leas-Cheann Comhairle Independent

I am moving on.

Comment on this

We have to change the market. That is how I think we can do it.

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