Ruth Coppinger (Dublin West, Anti-Austerity Alliance)
Link to this: Individually | In context | Oireachtas source

77. To ask the Minister for Finance his views on the concentration in ownership of residential development land by vulture funds as a result of land sales by NAMA; and if he will make a statement on the matter. [2180/17]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I, as Minister for Finance, do not have a role in tracking the breakdown of ownership of residential development land - either generally or in relation to land sales by NAMA debtors or receivers.  Therefore, it is not possible for me to comment on specific ownership concentrations or lack thereof.

I would suggest the Deputy consults the Property Registration Authority website (www.landdirect.ie) which records of the names and addresses of every Registered Owner. The index is kept in respect of each county and shows the folio number(s) corresponding to the name.

In addition, information regarding the availability of residential zoned land is available on the Department of Housing and local authority websites and is based on a national survey of all lands zoned for residential or primarily residential development in statutory local authority development plans and local area plans across Ireland to determine the location and quantity of lands that may be regarded as being undeveloped and available for primarily residential development purposes.  See www.housing.gov.ie/planning/residential-land-availability/residential-land-availability-survey.

The Housing Supply Taskforce for Dublin has recently collated data on the aggregated planning permissions and planning applications across the four Dublin local authorities which they have mapped and available to view on the department of Housing website at www.housing.gov.ie/housing/construction-2020-strategy/dublin-housing-supply-task-force/housing-supply-coordination-task.

More generally, I would point out that Ireland would not be recovering the way it is if the Irish banks, NAMA and IBRC had not progressed their sales strategies in the manner they have done.  It has only been through the sale of these assets and the accompanying investment that these assets have recovered being developed and are contributing to our broader recovery.  When we think of unfinished housing estates, dilapidated hotels or the unfinished skeletons of commercial offices and apartments, it has only been through the investment in these assets by the buyers of the assets and related loans that they have been brought to completion.  It is as important today as it ever was that we remain open to investment capital for the development of our economy across the risk spectrum of investment opportunities.