Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I am concerned about this section. The Minister spoke earlier about where we were in respect of the market in Dublin. There is an issue with supply in that regard. Is it not fair to say the extension encourages investors to seek and buy properties because they will not be subject to capital gains tax if they meet the requirements laid down?

Demand is being increased at a time when we have an issue with supply. The effect will be to increase prices in areas where there are supply issues. The amendment is not well thought out. Perhaps the intentions behind it are good, but it is not appropriate at a time when we are starting to see big problems of supply and demand in Dublin. We do not need to stimulate investors to seek properties at this time.