Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I move amendment No. 23:

In page 29, between lines 2 and 3, to insert the following:

“17. The Minister shall within 6 months of the passing of this Act, prepare and lay before Dáil Éireann a report on the impact that Irish Real Estate Funds and Real Estate Investment Trusts are having on residential property prices in the State.”.

This also asks for a report on the effect IREFs and REITs are having on residential property prices in the State. I briefly discussed the effect of the help-to-buy scheme on property prices with the Minister for Finance. It is clear from CSO figures that REITs and IREFs are hoovering up a huge amount of property across the State, particularly in Dublin. The latest figures I have show that €13 billion of property is in funds, though the Minister suggests it may be €16 billion.