Sinn Féin housing spokesperson Eoin Ó Broin today Image: Leah Farrell Sinn Féin housing spokesperson Eoin Ó Broin today Image: Leah Farrell SOLUTIONS TO THE issue of global investment funds buying up entire estates to be placed on the rental market can be found in the tax code, Sinn Féin housing spokesperson Eoin Ó Broin has said this afternoon.
All 250 homes are set to be rented out, raising concerns about the already constrained supply of homes for prospective buyers. “The solutions to this are really within the tax code. These investment firms don’t pay Capital Gains Tax, they don’t pay corporation tax and they don’t pay any tax on their rent roll.
Overall, Ó Broin said, “Long term, low yield institutional investors coming in and building good quality apartments to rent at reasonable prices: that’s not a problem. #Open journalism No news is bad news Support The Journal Your contributions will help us continue to deliver the stories that are important to you“The only difference is our landlords will be investment funds based in London or New York.”
Maybe the small accommodation provider isn't the ogre that SF thought they were. In the main we pay over 50% tax and look after good tenants. Pity so many were hunted out of the sector. Great policy!
Why don't the government buy houses and apartments, they can borrow at very cheap rates. The repayments would certainly be less that the lease costs to Vulture Funds and they would own them, not have to give them back after paying for them twice over.
Its a pity Pascal Donohue doesnt care enough to sort this out.
Why are they not paying tax like every other company 😡
The houses in kildare are going to be rented out to council. Feel sorry for the people who bought value of their house will probably fall truth be told. FF/FG have had their time.
SF and the Irish left have succeeded in driving thousands of small time Irish landlords out of the rental market - that's why it has become so attractive for these international equity funds.
Sinn Fein dodged a bit of tax themselves on the 4 million windfall
Why is it only now you starting to complain? Can SF councillors stop objecting to developments and homes will get built.
If no one rents one of these Houses🏡... where an Inv firm owns them all .... the Inv Firm has no income to pay interest payments & then they loose a shxt loud. Paying no capital gains as is a joke