Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

May I ask a final question? Every month the Central Bank issues on its website the number of qualified investor alternative investment funds that have been registered with the Central Bank. Over the past few months we have been drilling down into the accounts of some of those funds. Dr. Fagan will be aware that if they are foreign-owned, they are completely tax-exempt in Ireland.

However, they own a huge amount of property in the capital city in particular, as well as right across the State. Given the huge number of qualified alternate investment funds that are being registered and the fact that, between them and section 110 companies, they have bought up a third of all commercial properties in the capital in the past three years, does the witness believe that this is distorting the property market and that action needs to be taken?