Mick Wallace (Wexford, Independent)
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On the point about 80% of landlords owning only one or two properties, I do not expect Ms Carroll to have the figure now but could she tell us how many properties are owned by the top 20 individual owners and whether they are investment funds or individuals? How much property does the top 20% control in the rental sector in Ireland? Ms Carroll referred to the need not to scare people out of the market and said that already many of the landlords who own one or two properties are going to get out. Does she not agree that it is not necessarily an argument for a lack of control and regulation? Has she looked at what is going on in Switzerland, which I find very interesting? The vulture funds have purchased much good development land in Ireland, especially in Dublin, with a view not to building and flogging them but to building and rental. Kennedy Wilson and Heinz are here for the long haul. They see a very lucrative rental market and they will exploit it to great benefit. Ms Carroll speaks about competition but competition is disappearing because of the influx of vulture funds. Does she not see the impact of a cartel of vulture funds? I have given the example a number of times of a two-bed apartment in Dominick Street, which has gone from €900 a month to €1,500 a month. It is directly linked to the fact that a few small players have gained a serious foothold in the market here.

Has Ms Carroll looked at Switzerland? If a developer or investment fund buys land in Switzerland, when it is finished, the rent they can charge is determined by how much it cost to put them there. They have to open their books and prove every penny they spent so the state knows exactly what it cost to put them there. The rent is determined by that. They have another very positive initiative where if a landlord makes improvements to his property, he is allowed to charge more rent. He has to prove how much he has spent on the improvements, which makes the property better and encourages landlords to keep a better quality unit. Does Ms Carroll have any thoughts on that?

Ms Carroll has said that the new big landlord is more professional but he is also less affordable. I agree that the rental sector will grow. Even if we build a lot more social housing, as we should, fewer people will be able to afford to buy their home in Ireland. If we watch the rental sector grow and leave the best part of control and regulation to the markets, it will mean very little protection for the people who have no choice but to go into the rental market. What are Ms Carroll's thoughts on that?