Marie Sherlock (Labour) | Oireachtas source

Over the past two weeks, we have seen the Government scramble to contain the outrage expressed by many that entire housing estates were being bought up by cuckoo funds or institutional investors. That will culminate in decisions made by the Cabinet today. What has been really striking about all this is that we are somehow outraged that investment funds are elbowing out prospective home buyers in suburban areas but it is somehow okay that large swathes of our communities in Dublin city and other cities are taken over by build-to-rent investments. Does the Government think that communities in cities do not qualify as communities as well? Does it not realise that we have a thriving network of urban villages and communities and are crying out for them to be made less transient in order that people are allowed to make a home themselves in them? From what we have read about what is coming out from Government today regarding the solutions being targeted at suburban and rural areas, it is clear that they really reek of culchie superiority. I can say that as a proud culchie who was born in a very rural area but is bringing up my young family in a thriving community in Dublin. I think of the areas in Dublin 1, Dublin 7 and Dublin 9, where I am based, where only 1,500 conventional apartments are being developed. Contrast this with the 5,000 build-to-rent student accommodation and co-living units that are being developed with no opportunity for people to purchase homes in those developments or to put down roots in those areas. As Senator Moynihan has stated repeatedly, we need to extend those measures limiting the wholesale purchase of developments to apartments as well, because it is not good enough that we protect rural areas and suburbia. We also need to look after cities and ensure that people can make their lives in those communities.