Housing Minister Darragh O'Brien doesn't approve of 'cuckoo funds' which buy up housing in bulk but won't ban them – Independent.ie

Housing minister Darragh O’Brien has said he doesn’t approve of so-called cuckoo funds buying homes in bulk but banning investment coming into the country would be a “pretty radical move”.

t the weekend it was reported that one investment fund had bought up most of a new estate of more than 100 houses in Maynooth in order to rent them out, meaning they were unavailable for purchase by first-time buyers.

“I don’t approve of international investors buying housing estates in bulk like as happened here – where funds are coming in and taking homes away from families is a concern,” said the minister.

He also defended the Government’s affordable housing plans against accusations it will not benefit people on low and middle incomes.

The minister is bringing his Affordable Housing Bill to Cabinet today.

Speaking this morning, the minister said more than 6,000 homes will be built over the next four years under the scheme.

Continue reading this atricle at https://www.independent.ie/irish-news/politics/housing-minister-darragh-obrien-doesnt-approve-of-cuckoo-funds-which-buy-up-housing-in-bulk-but-wont-ban-them-40385146.html