Taxation of ‘cuckoo funds’ key to deterring block-buying, says Minister

Finance officials considered special tax increase on funds buying up Irish property

23 minutes ago

Cormac McQuinn , Harry McGee , Joe Brennan , Marie O'Halloran

Minister for Housing Darragh O’Brien says he is looking at ‘whatever measures that are needed, up to and including a ban’ to address the issue of bulk-buying of new homes by investment funds. Photograph: Gareth Chaney/Collins

Minister for Housing Darragh O’Brien is pressing the Department of Finance to make changes to the tax treatment of investment funds as part of efforts to prevent them block-buying large parts of housing estates.

There has been a growing focus on the taxation of so-called cuckoo funds as the Government sustained another bruising day of Opposition attacks over the purchase by funds of homes that would normally be targeted by first-time buyers.

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Taxation of ‘cuckoo funds’ key to deterring block-buying, says Minister

Finance officials considered special tax increase on funds buying up Irish property

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