Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

Again, the Deputy is putting words in my mouth that are wrong. He should not do that. He is correct; this is a fund selling on to a fund. That is not how it was presented earlier in the debate, but that is exactly what happened. Since the nine houses, or perhaps a larger estate, were bought, the Government has introduced measures such as stamp duty on any fund that buys ten houses or more and, indeed, planning regulations that were brought in by the Minister to restrict the purchase of homes by institutional funds.

The Deputy knows all those measures are now in place to deal with that issue in respect of homes. It is not, as presented, institutional funds competing with first-time buyers. It was one fund buying from a fund that already had the properties that were being leased to the local authority. The people in the houses stay in the houses and will stay there for the next 25 years, as per their tenancies with the local authority for social homes.

See this speech in context