Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

It is too early. The legislation allowing REITs to set up investment funds was introduced in the 2013 Finance Bill. Many of the REITs did not actively invest for a year after they had accumulated the fund. It is very new. I agree with the Deputy’s point. In due course, an assessment must be done of how it is working, given that it was a novel scheme for Ireland, although it works very well in other jurisdictions. I am glad we have REITs. In the Dublin market, they are providing good rental accommodation in the absence of domestic investors.