Cian O'Callaghan (Dublin Bay North, Social Democrats) | Oireachtas source

There are reports this week of 435 apartments in Ashtown in Dublin 15 being sold off to a foreign investment company based in Germany several years before these apartments will be completed. According to the Construction Industry Federation, in 2019, 95% of apartments were sold to institutional investors, leaving only 5% for everyone else. Individuals and couples simply cannot compete with these multimillion euro investment funds. An entire generation is being locked out of home ownership. Rents for apartments in Dublin are higher than in any other city in the European Union. In Germany, residential investment funds were banned from buying up apartments and homes. Will the Government bring forward legislation to ban the buying up of homes by real estate investment trusts, REITs, and investment funds?

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