Cian O'Callaghan TD

The revelation that Ryanair has bought up 25 homes in an estate in Swords, Co. Dublin, is another kick in the teeth for first-time buyers, according to Social Democrats housing spokesperson Cian O’Callaghan.

“It is already hard enough for people looking to get a place of their own when rents are at the highest ever level and house prices 6 per cent above their Celtic Tiger peak.

“Add to that, having to bid against international investment funds and global companies, and it is no wonder there over half a million adults stuck living in their childhood bedrooms.

“People are shocked that Ryanair has now entered the property market, but stories like this do not take place in a vacuum. The only reason Ryanair are buying up homes is because their workers cannot find a place to live. Large corporates should not have to enter the property market in a desperate bid to house their staff.

“It’s not as if small and medium businesses or vital public services can splash cash in this way. What are our schools supposed to do about their teachers? Should the gardaí enter the property market? Will the HSE need to become Ireland’s largest landlord?

“This Government is presiding over a dysfunctional housing system that rolls over for giant corporations but offers little hope to ordinary people.

“They have already failed to stop funds snapping up homes in housing estates. Now, their housing plan has resulted in Ryanair bulk-buying new homes. What will happen to supply for first-time buyers if other large companies follow Ryanair’s example?

“We need to build thousands of affordable homes every year for individuals and families. Until this happens, housing will continue to be bought up by funds looking to cash in on a crisis, or companies desperate to find homes for their employees.”

January 25, 2024

Back to all Posts