Housing – What You Are Not Being Told!

Did you know that Germany have banned these the Vulture funds that FG/Lab/FF let in 2011 onward, from buying up German residential property – So now we have German funds buying up property in Ireland instead?
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What? RTE didn’t tell you this? Here’s more they didn’t tell you…
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The Construction Industry Federation has gone on record as stating, from 2019, 95% of new apartments were sold to institutions, leaving just 5% for everyone else. Individuals and couples can’t compete with these multimillion-euro funds.
The result: an entire generation being locked out of homeownership, forced to pay rents to investment funds that are much higher than a mortgage.
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Rents in Dublin – which have almost doubled in the last 10 years – are now the most expensive in the European Union. This makes Ireland a very attractive option for investment funds that want to maximise profit. But it also means it’s an unaffordable place to live for people on average incomes.
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To quote Cian O’Callaghan TD: “The Government in Germany has banned Real Estate Investment Trusts from buying up residential property. This decision was taken by the German Government in 2006 specifically to ensure that large international investment funds would not be attracted towards buying up homes and apartments.
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The Irish Government introduced the Real Estate Investment Trust regime to Ireland in 2013. They have subsequently chosen to appease big international investors at every turn with favourable tax treatment. This has resulted in rents spiraling out of control and has allowed the housing crisis to run and run.”
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NO – you wouldn’t know all this. It’s been #RTEcensored.
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When FG/Lab/FF pretend they can do nothing or that they are not at fault, it’s total crap from them!