Calls by the Taoiseach for more incentives for private investment in the rental sector show this Government is prepared to double down on years of failed housing policy, according to Social Democrats TD Rory Hearne.<\/p>\n
Deputy Hearne, who is the party\u2019s housing spokesperson, said:<\/p>\n
\u201cFianna F\u00e1il claims it is the party of home ownership and housing. In reality, it is the party that prioritises the interests of global and Irish investor funds, turning young Irish adults locked out of homeownership into a generation of renters.<\/p>\n
\u201cThis has resulted in massive inequality with serious social implications.<\/p>\n
\u201cThe Housing for All plan was fundamentally reliant on investor funds to deliver housing, especially in Dublin. And despite Government claims that they were clamping down on vulture funds, they actively promoted institutional investment by not applying new stamp duty rates to the bulk purchase of apartments.<\/p>\n
\u201cIn addition, they continued to offer generous tax breaks to help maximise the profits of global funds.<\/p>\n
\u201cHowever, in the past few years, due to rising interest rates and input costs, profitability for institutional investors has reduced, so they have been lobbying hard for greater supports, particularly in the area of removing rent restrictions on existing properties.<\/p>\n
\u201cNow the Taoiseach’s big move on housing is to ramp up support for vulture funds and continue with the very policies that caused this housing crisis.<\/p>\n
\u201cWhat we need are affordable homes that people can buy and rent \u2013 not more ‘build to rent’ apartment blocks delivered by vulture funds.<\/p>\n
\u201cWhat is clear is that the Government’s housing plans are in disarray. Instead of taking a new approach, they are going backwards.\u201d<\/p>\n
February 10, 2025<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Calls by the Taoiseach for more incentives for private investment in the rental sector show this Government is prepared to double down on years of failed housing policy, according to Social Democrats TD Rory Hearne. Deputy Hearne, who is the party\u2019s housing spokesperson, said: \u201cFianna F\u00e1il claims it is the party of home ownership and […]<\/p>\n","protected":false},"author":3,"featured_media":11240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,7,510],"tags":[],"class_list":["post-11514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-crisis","category-press-release","category-rory-hearne"],"acf":[],"yoast_head":"\n