Michael Noonan (Limerick City, Fine Gael)

Certainly, I do not see any particular reduction in rents within a couple of miles of this place. The buy-to-rent market in certain parts of the country has gone very well. There are problems with the buy-to-rent market to the extent that some of the development was driven by tax breaks. The main prop when some blocks of apartments were being developed was a tax break. They were not really run on business grounds at all. There are difficulties in that regard. If people are in the business of risk, I do not think the taxpayer has to go in on every occasion to bail them out if the risk goes wrong.

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