The activity of private institutional investment funds in the Irish housing market is undermining the Governments response to the housing crisis.
Every week private institutional investment funds are outbidding, outspending and gazumping aspiring homeowners, first time buyers, Approved Housing Bodies and the state.
In the past few weeks private institutional investment funds have purchased 100s of new build homes, outbid AHBs by €60-80K on individual homes and have earmarked billions of euro in funds to spend in the Irish market.
Government must take urgent action to apply financial penalties to stop private investment funds bulk buying new build homes and discourage long term vacancy in areas of high housing demand.
