Dáil Éireann Debate, Tuesday - 14 June 2022
533. Deputy Peadar Tóibín asked the Minister for Housing, Local Government and Heritage if he identifies the number of houses that are bought by private companies each year in order to understand the ownership trends in the market; if a company (details supplied) is buying up homes; and if so, the number of homes that it owns within the market at the moment. [30354/22]
Amharc ar fhreagraMy Department does not collect data on the purchase of residential properties by individual private companies.
That said, the Government introduced measures in May 2021 to limit the bulk purchase of houses and duplexes by institutional investors. The measures included -
requiring planning authorities (via Ministerial Guidelines under Section 28 of the Planning and Development 2000) to insert a model form of condition in applicable new planning permissions requiring all houses and duplexes to be made available to sale and for first occupation by separate, individual households for a prescribed number of years after completion, and
a 10% stamp duty levy on the cumulative purchase of 10 or more residential houses or duplexes in a 12-month period.
I am satisfied the measures have been effective, that they have reduced the bulk purchase of single family residential units by institutional investors, and have levelled the playing field for traditional family home-buyers while still facilitating vital investment in high density apartments.
