To: Minister for Housing
Halt the sale of mass new developments to private investors for rent.
It has come to my attention this week that there is a rising trend of large percentages of housing developments being sold to vulture or foreign private investment companies for them to then rent at extortionate prices to the Irish public.
We want these purchases stopped and reverse so as to avoid further damage to the housing market. This growing problem can be corrected if there is a political will to do what is right. This can be rectified by introducing a firm rental regulation to the current market, making prospects like these unattractive to investors and more affordable for the public. Additionally countries such as New Zealand and Canada have made it illegal for new housing to be sold to private foreign investors to rent to the public and I believe this country should follow suit. The Irish housing market simply cannot afford another hand around the neck of an already suffocated market.
Why is this important?
There is already a massive housing shortage in this country, for any available housing to fall into the hands of private investors so they can exploit the Irish public is simply inexcusable & will absolutely plummet this housing market into a completely unaffordable state, leaving Ireland in the hands of vultures and faceless landlords. To be clear this is not simply an objection to the "Built to Rent" market which in itself raises enormous issues, this is normal rural and urban housing estates of family homes being built and marketed to the public only to be then allocated to foreign private investors to rent.