Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

It is important to put into context the scale of these REITs and the effects they are having on markets. I am using information that is available from the Central Statistics Office. Its figures indicate there are approximately 126,000 apartments in Dublin and 210,000 apartments nationally. Residential properties owned by REITs account for 2.38% of the total Dublin apartment stock and 1.4% of national apartment stock. Figures on the ownership types in respect of tenancies show that, despite the growth in the scale of REITs which I acknowledge, the top 20 landlords in the country, including the different entities and institutional investors we are discussing, still account for around 3% of total tenancies in Ireland. I take a different view from the Deputy. While I acknowledge these entities have scale, on the basis of the figures I have shared with the committee, their scale and influence is lower than the Deputy has argued.