Jackie Cahill (Tipperary, Fianna Fail)
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584. To ask the Minister for Housing, Planning, and Local Government his plans to introduce legislation or regulations that would encourage vulture funds to make residential properties that are in their ownership available to the market to reduce the shortage of housing (details supplied); and if he will make a statement on the matter. [8071/18]

Eoghan Murphy (Dublin Bay South, Fine Gael)
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The introduction of legislation or regulations of the kind referred to would be a matter for the Minister for Finance.

Under the Government's Rebuilding Ireland Action Plan on Housing and Homelessness there is a scheme in place, administered by the Housing Agency, for the acquisition of dwellings being disposed of by banks and private equity funds. An acquisitions fund of €70m, which is a revolving fund, was established in 2017 with the objective of acquiring 1,600 units over the period to 2020 for social housing use. 

Under this Fund, as at 31 January 2018, the Agency had bids accepted on 443 properties. Contracts have been signed for 399 units and 384 of these purchases have closed. The process of selling properties on to Approved Housing Bodies (AHBs) is well underway. As of 31 January 2018, the Agency had signed purchase option agreements for 314 properties with AHBs and the onward sale of 45 units to AHBs have been completed in full, with €10m being made available for reinvestment by the Agency in further purchases.