Government defends decision to...


Government defends decision to continue to allow bulk buying of apartments

Rebecca Noonan
Rebecca Noonan

09:27 19 May 2021

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The government has defended the decision to allow investment funds to continue to block buy apartments.

New regulations mean such funds will be charged 10% stamp duty if they buy 10 or more houses.

While planning changes mean up to 50% of new developments will be reserved for owner occupiers.

The stamp duty changes won't apply to apartments - with Finance Minister Paschal Donohoe saying he fears blocks won't get built without that investment.

"I do believe that over time a larger amount of supply will play a role in both reducing the cost of housing and also in time the rent levels that are there.

"But it won't just be the supply of housing or apartments on its own - it will also be the policy measures that the government has in place."

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