Colette Kelleher (Independent) | Oireachtas source

I move recommendation No. 13:

In page 146, after line 36, to insert the following:

"Report on impact of Irish Real Estate Investment Funds on residential property prices

64. The Minister shall, within six months of the passing of this Act, prepare and lay beforeboth Houses of the Oireachtas a report on—(a) the impact of Irish Real Estate Funds and the Real Estate Investment Trusts onthe Irish property and housing sector, including rental prices and residential andcommercial property prices throughout Ireland, and

(b) the effective tax rates paid on the profits of these entities and their shareholders.".

I am not going to speak at length on this recommendation. It would be helpful to have oversight of the impact of these measures on property prices. We have talked about rental income and levels of rent. We have also talked about the housing situation, which is such that only the very rich are able to purchase a house. That is what is behind this recommendation. We want clarity and transparency on the impact of IREFs and REITs on property prices.