{"id":1500,"date":"2021-03-09T15:09:43","date_gmt":"2021-03-09T15:09:43","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/renting-remains-unaffordable-as-cuckoo-funds-push-out-first-time-buyers\/"},"modified":"2021-03-09T15:09:43","modified_gmt":"2021-03-09T15:09:43","slug":"renting-remains-unaffordable-as-cuckoo-funds-push-out-first-time-buyers","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/renting-remains-unaffordable-as-cuckoo-funds-push-out-first-time-buyers\/","title":{"rendered":"Renting remains unaffordable as cuckoo funds push out first-time buyers"},"content":{"rendered":"<p>Social Democrats Housing spokesperson Cian O\u2019Callaghan TD is calling for renting to be made more affordable through a range of measures, including banning\u00a0international investors and REITs from buying up new apartments.<\/p>\n<p>Deputy O\u2019Callaghan said:<\/p>\n<p>\u201cPrivate investor funds remain a major force in the housing market, as highlighted by the Quarter 4 Report from the\u00a0Banking and Payments Federation Ireland (BFPI).<\/p>\n<p>\u201cNew build apartments are completely out of reach for people on average incomes. Entire apartment schemes are being bought up by international investors and REITs. The Government has encouraged investment money flowing into property, which is pushing up prices. This is why we are seeing the cost of housing increase during a global pandemic, despite many people losing their jobs and incomes.<\/p>\n<p>\u201cThe BPFI Report shows that as the country moves through Covid-19 in 2021 we are going to see an increased squeeze on supply as demand remains strong. Pitting first-time buyers against international cuckoo funds is a recipe for disaster.<\/p>\n<p>&#8220;European countries such as Germany have banned REITs from investing in residential property. This has worked successfully and resulted in more affordable rents and more affordable housing and I&#8217;m calling on the Government to do the same here.&#8221;<\/p>\n<p><strong>March 9, 2021<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Social Democrats Housing spokesperson Cian O\u2019Callaghan TD is calling for renting to be made more affordable through a range of measures, including banning\u00a0international investors and REITs from buying up new apartments. Deputy O\u2019Callaghan said: \u201cPrivate investor funds remain a major force in the housing market, as highlighted by the Quarter 4 Report from the\u00a0Banking and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,7],"tags":[],"class_list":["post-1500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cian-ocallaghan","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Renting remains unaffordable as cuckoo funds push out first-time buyers - Social Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.socialdemocrats.ie\/renting-remains-unaffordable-as-cuckoo-funds-push-out-first-time-buyers\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Renting remains unaffordable as cuckoo funds push out first-time buyers - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"Social Democrats Housing spokesperson Cian O\u2019Callaghan TD is calling for renting to be made more affordable through a range of measures, including banning\u00a0international investors and REITs from buying up new apartments. 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