Written answers

Wednesday, 2 June 2021

Department of Housing, Planning, and Local Government

Real Estate Investment Trusts

Photo of Catherine MurphyCatherine Murphy (Kildare North, Social Democrats)
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118. To ask the Minister for Housing, Planning, and Local Government further to Parliamentary Question No. 137 of 27 May 2021, if he will review social housing policy in the context of removing REIT investments as an eligible investment under the immigrant investor programme (details supplied). [30193/21]

Photo of Darragh O'BrienDarragh O'Brien (Dublin Fingal, Fianna Fail)
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The Immigrant Investor Programme (IIP) is within the remit of the Minister for Justice and any reviews of that programme will be undertaken by the Department of Justice. The regulation of the REIT sector is within the remit of the Minister for Finance, and any changes to the regulatory framework for REIT investment would be a matter for the Department of Finance.

The Government is committed to increasing the supply of social housing and the Programme for Government includes a commitment to deliver 50,000 new social homes. In 2021, the target, subject to the impact of Covid, is to deliver 12,750 new social homes, including 10,000 new build homes, 800 targeted acquisitions and 2,450 homes to be delivered through leasing programmes. Budget 2021 provides record levels of funding for housing with €3.1bn available to deliver housing programmes.

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