Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

It was due to end next month, but it is being extended. We need to tease out its implications. Having a market that in some areas is growing by double digit percentage points is not good. I do not know where the Government wants the property market to go in terms of prices. Anybody who owns a property will be happy to see prices increasing, but people who are waiting to buy or are saving will not be as happy. I am not certain about the purpose of the amendment. What is it designed to achieve? Clearly, it will have the effect of encouraging investors into the market at a time when young people, first time buyers in particular, are struggling to buy houses in the greater Dublin area.