The Taoiseach Micheal Martin has said that the purchasing of completed housing estate developments by international investment groups is not acceptable and the Government’s main priority is assisting first time buyers.
Speaking in the Dail this afternoon, the Taoiseach said the purchasing of completed housing developments is not inline with Government policy and is completely unacceptable.
Martin who was responding to questioning from opposition TD’s, said that it still remains the Government’s priority to assist first time buyers and therefore we don’t want investment groups competing with first time buyers.
The Taoiseach’s comments come after a number of opposition TD’s voiced their concerns about the recent acquisition of a housing estate in Co Kildare which saw two investment groups buy 135 houses out of a 170 bloc.
Martin told the Dail that the system of investment groups buying up properties was implemented years ago to assist and add to supply not to detract from it.
He went on to say that he would advise county councils across the country not to enter talks with such groups over long term leasing opportunities.
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