Tax on vacant properties could solve housing crisis – Independent.ie

The news that Ireland has the 10th highest housing vacancy rate in the world makes for depressing reading. The 183,000 vacant homes (excluding holiday homes) could solve our homelessness problem 30 times over and dramatically reduce the price of houses on the open market for those who cannot currently afford to buy them.

any of these vacant properties are owned by global property and hedge funds who seek to bid up rental and purchase prices by constricting supply. At least a third are owned by older people who can no longer live in them and who need to be incentivised to make them available on the open market.

The Government claims it needs more information on why these houses are vacant before it can introduce a vacant property tax.

This is a shallow excuse to continue to favour vacant and often absentee property owners over those who need

Continue reading this atricle at https://www.independent.ie/opinion/letters/tax-on-vacant-properties-could-solve-housing-crisis-40987264.html