Peadar Tóibín (Meath West, Aontú) | Oireachtas source

The Government's policy has displaced families in the housing market. It has pitted these institutional investors against families. Many of these institutional investors come from abroad. They have far deeper pockets than families who are trying to buy homes. They have access to far cheaper finance than first-time buyers and, worst of all, they pay less tax than the families they are competing against. The Government has stacked the system in favour of institutional investors. It shocks me that by pursuing this policy, the Government has heaped demand on a sector that is already overheating, thus pushing up the price of houses and creating enormous power for these institutional investors, as they own significant chunks of property. One REIT is the biggest landlord in the State and having that level of power in the market gives it power over rents. It has gone beyond time for these vehicles. Whatever argument there was for them straight after the crash, it is not there now. Will the Government repeal the tax advantages?

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