Rental Sector

Dáil Éireann Debate, Tuesday - 15 January 2019

Tuesday, 15 January 2019

Ceisteanna (101)

Mick Wallace

Ceist:

101. Deputy Mick Wallace asked the Minister for Housing, Planning and Local Government his views on the trend of large-scale developments of apartment units being sold in bulk to investment and pension funds; his further views on whether this is contributing to a rental cartel; his plans to draft legislation in conjunction with the Minister for Finance to make it a requirement for developments with over 100 units to advertise these units on the open market; and if he will make a statement on the matter. [1477/19]

Freagraí scríofa

Minister for Housing, Planning and Local Government

There are approximately 340,000 tenancies registered with the Residential Tenancies Board (RTB), of which approximately 310,000 are private rented tenancies. The majority of landlords, just over 70% own just one property, with a further 16% owning just two properties. The table shows that almost 86% of the registered rental housing stock is possessed by landlords with less than 10 properties, reflecting the fact that the overall percentage of stock held by institutional investors is relatively low. Against that background, I have no plans for legislation of the kind suggested.

Table: Percentage of tenancies held by landlords in 2018

No. of Properties Owned by Landlord	Cumulative % Tenancies
Up to 1 prop	39.5%
Up to 2 prop	57.4%
Up to 3 prop	66.8%
Up to 4 prop	72.7%
Up to 5 prop	76.9%
Up to 6 prop	80.1%
Up to 7 prop	82.6%
Up to 8 prop	84.3%
Up to 9 prop	85.9%
10+ prop	14.1%

Question No. 102 answered with Question No. 53.

Question No. 103 answered with Question No. 61.