Wednesday, 10 February 2021

Questions (335)

Francis Noel Duffy

Question:

335. Deputy Francis Noel Duffy asked the Minister for Housing, Local Government and Heritage if his attention has been drawn to the purchase of property (details supplied) by foreign investors; the tax rate investors will pay on rental income; the impact these foreign investment firms' block purchases have on housing affordability; and if he will make a statement on the matter. [7087/21]

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Written answers (Question to Housing)

The Programme for Government, ‘Our Shared Future’, commits to putting affordability at the heart of the housing system, which the Government has prioritised in Budget 2021 by providing for a suite of affordable housing measures totalling €468 million. This will be utilised across two new programmes announced in Budget 2021 to deliver affordable homes to purchase or rent, as well as the existing Serviced Sites Fund, the Local Infrastructure Housing Activation Fund, the Rebuilding Ireland Home Loan, and through the Land Development Agency.

Government approved the priority drafting of the Affordable Housing Bill 2020 on 22 December 2020, and I published the General Scheme on 20 January 20 last. The Bill includes provisions to underpin three schemes delivering on the Programme for Government commitment to prioritise the increased supply of affordable homes through (1) affordable homes delivered by local authorities (2) a new affordable purchase shared equity scheme for private homes and (3) the introduction of a new form of tenure in Cost Rental.

Taxation policy in general is a matter for my colleague the Minister for Finance.