{"id":3615,"date":"2024-01-10T11:30:29","date_gmt":"2024-01-10T11:30:29","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/?p=3615"},"modified":"2024-01-10T11:30:29","modified_gmt":"2024-01-10T11:30:29","slug":"ineffective-government-measures-have-failed-to-deter-investors-from-bulk-buying-homes","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/ineffective-government-measures-have-failed-to-deter-investors-from-bulk-buying-homes\/","title":{"rendered":"Ineffective Government measures have failed to deter investors from bulk buying homes"},"content":{"rendered":"<p>Figures released by Revenue prove that measures introduced almost three years ago by the Government to deter the bulk purchasing of homes by investment funds are completely inadequate, according to Social Democrats TD Cian O\u2019Callaghan.<\/p>\n<p>Deputy O\u2019Callaghan, who is the party\u2019s housing spokesperson, said:<\/p>\n<p>\u201cUnder new stamp duty measures introduced in 2021, investors purchasing more than 10 houses in a 12-month period were subject to a 10 per cent stamp duty rate. However, figures show that this has failed to act as a disincentive, with more than \u20ac200 million spent by investors bulk buying 630 homes since the increased rate came into effect.<\/p>\n<p>\u201cThese figures come just days after reports of an investment fund buying 85 per cent of properties in one Dublin housing estate.<\/p>\n<p>\u201cIt is clear that these tokenistic tax measures are ineffective and have failed to scare off investment funds, which continue to cash in on the highest rents this country has ever seen.<\/p>\n<p>\u201cWhen will the Government realise that we need homes that people can afford \u2013 not investment opportunities for speculators?<\/p>\n<p>\u201cNothing less than a complete ban on investment funds bulk buying homes is now required.\u201d<\/p>\n<p><em>January 10, 2024<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Figures released by Revenue prove that measures introduced almost three years ago by the Government to deter the bulk purchasing of homes by investment funds are completely inadequate, according to Social Democrats TD Cian O\u2019Callaghan. Deputy O\u2019Callaghan, who is the party\u2019s housing spokesperson, said: \u201cUnder new stamp duty measures introduced in 2021, investors purchasing more [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2065,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,10,7],"tags":[],"class_list":["post-3615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cian-ocallaghan","category-housing-crisis","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ineffective Government measures have failed to deter investors from bulk buying homes - 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\/ineffective-government-measures-have-failed-to-deter-investors-from-bulk-buying-homes\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ineffective Government measures have failed to deter investors from bulk buying homes - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"Figures released by Revenue prove that measures introduced almost three years ago by the Government to deter the bulk purchasing of homes by investment funds are completely inadequate, according to Social Democrats TD Cian O\u2019Callaghan. 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