Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

It is much better if the person who wants to invest in property puts his or her €50,000 or €100,000 into a REIT. It will be properly managed if it follows the patten of what happened in other countries and the person's risk will be spread. There would then be a proper rental sector. We have a peculiar rental sector in this country. A good bit of it is in the black economy, while more of it concerns people who want it as a supplement for pensions. They are not really people with any expertise in property or the business of renting. The REIT system will raise standards and if something goes wrong I will move to correct it, but so far it is moving in the right direction as intended.

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