Dáil debates

Wednesday, 22 November 2023

Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation

 

12:40 pm

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

There are 48,000 homes vacant between the two censuses. They should be getting charged the tax.

I wish to ask the Taoiseach about long-term leasing deals. A US investor has paid €75 million to buy up a Dublin social housing portfolio consisting of 156 apartments. That is almost €500,000 for each apartment. Investors are willing to shell out such huge sums as the State has guaranteed the return on their investment through long-term leases. Long-term leases are exceptionally bad value for money and turn social housing into a commodity for investors to trade. The State pays back the entire cost to the investor buying up these homes while the private investor retains complete and utter ownership. Would it not be much better to use our resources to build more social homes instead of signing up to these lucrative long-term leasing deals for investors?

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