Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

That is what this is for, to facilitate profits for international funds that want to come to Ireland to invest in a property market that is evolving or changing. We are trying to ensure that there is investment and that we increase the professionalism of landlords. In other European cities apartment blocks are often owned by one fund that is managed in a way that is in the interests of stable rent. That is the kind of rental market we need to create in Ireland but because of a lack of supply when a new development is selling from the plans or just completed, having large funds competing with individuals who want to buy their own homes is something we need to move away from but primarily by increasing supply.

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