UK fund snaps up 85% of Dublin 17 housing estate originally aimed at individual buyers

So what happens after 25 year of living rent free? R they evicted or pay rent at market rate?

I doubt its rent free for most tenants. Possibly an option for council and/or tenant to purchase outright.

There was a golden opportunity for the government to get into home building with NAMA but they refused. There were also tens of thousands of unemployed tradesmen who were allowed emigrate after the crash when they could have been kept here with a NAMA linked company.

Everything has to go through private sector for some reason and the government/public sector has completely lost the ability to actually build anything. The private sector then just take the government for a ride, eg childrens hospital.

Just to remind you- in 2016 they launched the Rebuilding Ireland scheme. Scheduled to last from 2016 to 2021 and was essentially a promise to end the housing crisis.

In Dublin your average house price must have near on doubled since then. Rental crisis has got even more chronic.

I'll give them their dues, there is A LOT of social housing gone up since about 2019 and continues to go up- but that's a closed shop off limits to the vast majority of people who can't afford to buy a home.

There was about 10 years after the crash though when house building was minimal and it will take years to catch up.

Why though? Genuine question, what is the motivation behind such seemingly crazy policies.....

Is it ideology gone mad or is there money changing hands at higher levels...

I'm genujnely struggling to understand why they seem to have gone full (I'm afraid to finish the phrase in case anyone takes offence!)

It would bring prices down for purchasers but the rental market would get worse for tenants and fewer overall dwellings would be built.

They have been purchased to rent by the fund.

That isnt going to bring rent prices down.

Increased supply will have the tendency to bring prices down. Of course there are going to be demand factors such as more people coming into the country needing accommodation so overall prices will still rise. But they would rise more severely if there wasn't housing being made available to rent such as this purchase.

40 UNITS snapped up, happening everywhere, these homes are brand new, only coming available.Now most are gone.

None of the links to the articles work anymore.

I think in fairness if you invest in a property fund you'll have to pay tax on returns at the same rate as if you owned the property directly. What is needed is some sort of tax incentive for Irish individuals to invest in funds.

Yes, I am aware of the REIT structures for tax but still septical as to whether the State benefits as much as they say. If the loopholes can be created, they can be closed or modified consideray in a finance bill. The REIT ship looks to me like it has sailed.

Instead, they tinker with stamp duty so they can continue to say inward investment into Ireland is strong ...but another section of the State is paying handsomely for that investment. Almost like a.ponzi ..good while the money is rolling and then it collapses

Maybe I am aiming way off target here. I cannot read the linked article. The link leads nowhere

Nail on the head. It’s scandalous and simply fucked up that this is the model. I hate punching down - but some families will get those and they will never have contributed **** all to the state.

Here's more of the same, either incompetence and laziness by the Co Co or corruption.

The majority of people in social housing work and pay taxes.