Investors buying homes
Deputy O'Callaghan raises a constituent’s concern that investors are outbidding ordinary buyers, including in apartment sales. The Taoiseach says measures already restrict large-scale investor purchases and points to Housing for All, social housing, cost rental and the Land Development Agency.
I want to ask the Taoiseach about people trying to buy homes competing with investors. This is a message I received from a constituent:
Today I went ... to ... look at an apartment to buy. The estate agent automatically assumed I was an investor. The other person at the viewing was bidding on this particular apartment and another upstairs in the same building - with a view to buying both... I have a well paid permanent job. How does anyone stand a chance ...
A German investor is reported today as buying up 72 homes in Clonskeagh. In explaining its decision, it said, "Compared with other European ... [countries], rental yields are higher in Ireland." In Spain the government has taken measures to limit the roles of investors and investment funds. In Amsterdam measures have been brought in requiring people who buy homes to live in them. Will the Government consider similar measures here?
Comment on this
A whole range of measures have been taken to restrain investor funds from buying whole estates of housing, for example. It cannot be done-----
Comment on this
I referred to apartments.
Comment on this
-----through planning regulations that have been introduced. Housing for All and the investment we have put in provides for very substantial social housing to be bought, affordable housing to enable people to afford to buy a house and cost-rental to enable people to get housing at an affordable rent. Through the Land Development Agency and other initiatives, a full range of measures has been introduced to deal with the housing issue.