Investment funds are having a “chokehold” effect on the supply of housing in Ireland.
That’s according to Ciarán Mulqueen, a teacher and creator of the Instagram account Crazy House Prices.
It comes as the news broke over the weekend that the bulk of houses in a new estate in Co Kildare had been purchased by investment funds.
Just 22 out of 174 new homes in Mullen Park in Maynooth were available for first-time buyers, with the remainder being purchased by an investment trust.
Ciarán told Lunchtime Live that a lot of potential buyers have “given up” and are “quite upset” over the revelation.
His social media page has around 40,000 followers, of which half are first-time buyers, and many of those people found the news really disheartening.
“With the chokehold of supply that these investment funds have, there’s literally nothing there for people to buy, so I think people are really fed
Continue reading this atricle at https://www.newstalk.com/news/normal-people-cant-compete-with-investment-funds-when-buying-a-house-in-ireland-1189384