It’s subscriber only, but it’s as it says on the tin. I think stuff like this shouldn’t be allowed. They bought it out and are now renting them back to the Dublin City Council for 25 years. It’s 156 apartments in Dublin.
Here we have in a separate case we have 94 high-end apartments bought out by Irish Life which is owned by a Canadian Great-West Lifeco.
I mean who’s going to buy such a development but a corporation?
They’re usually the best landlords anyway.
The government has 10 billion laying around there is no excuse for selling housing portfolios to American companies. This is corruption.
Fucking madness. Why didn’t the council just keep them and rent them out directly?
This government is asking you to trust them to fix the housing crisis while at the same time it encourages foreign profit driven firms control housing stock.
What I don’t get is there’s a load of people out there who want really boring, safe investments. The councils could easily sell housing bonds, which are not high rolling, high risk, speculative stuff. They’d pay out a rather boring return but be incredibly safe investments.
There’s plenty of demand out there for that kind of thing, but we won’t under any circumstances think outside the box and seem to want to let the most speculative and aggressive investments in instead.
Getting capital in makes sense, but it should be getting maximum value for the public purse and getting long term ownership of the properties they’re building.
How in the actual fuck do we keep messing up social housing. The stage owns land, used to own loads that was on great locations in Nama. They have the buying power at scale and reputation of a stable nation. The state has written the literal rule book but time and again private corperations acquire these large assets removing control and funneling revenue out of the country
Uhh did they not know social housing is free? God how incredibly silly of them
This is being done because of the tennant buying scheme that allowed those in social housing to buy the property at a huge discount in the 80-90 , even though it created the largest amount of generational wealth there a a lot of people who resent it. Since the government and councils don’t own them they obsolete them selves of responsibility
There truly is a serious epidemic out there of not reading articles before commenting on the content.
You’re going to own nothing and be happy about it…..
Sorry don’t want to subscribe to The Irish times paywall who is the investor?
12 comments
It’s subscriber only, but it’s as it says on the tin. I think stuff like this shouldn’t be allowed. They bought it out and are now renting them back to the Dublin City Council for 25 years. It’s 156 apartments in Dublin.
Here we have in a separate case we have 94 high-end apartments bought out by Irish Life which is owned by a Canadian Great-West Lifeco.
https://www.irishtimes.com/property/commercial-property/2023/11/22/irish-life-completes-49m-purchase-of-dalkey-apartment-scheme/
I mean who’s going to buy such a development but a corporation?
They’re usually the best landlords anyway.
The government has 10 billion laying around there is no excuse for selling housing portfolios to American companies. This is corruption.
Fucking madness. Why didn’t the council just keep them and rent them out directly?
This government is asking you to trust them to fix the housing crisis while at the same time it encourages foreign profit driven firms control housing stock.
What I don’t get is there’s a load of people out there who want really boring, safe investments. The councils could easily sell housing bonds, which are not high rolling, high risk, speculative stuff. They’d pay out a rather boring return but be incredibly safe investments.
There’s plenty of demand out there for that kind of thing, but we won’t under any circumstances think outside the box and seem to want to let the most speculative and aggressive investments in instead.
Getting capital in makes sense, but it should be getting maximum value for the public purse and getting long term ownership of the properties they’re building.
How in the actual fuck do we keep messing up social housing. The stage owns land, used to own loads that was on great locations in Nama. They have the buying power at scale and reputation of a stable nation. The state has written the literal rule book but time and again private corperations acquire these large assets removing control and funneling revenue out of the country
Uhh did they not know social housing is free? God how incredibly silly of them
This is being done because of the tennant buying scheme that allowed those in social housing to buy the property at a huge discount in the 80-90 , even though it created the largest amount of generational wealth there a a lot of people who resent it. Since the government and councils don’t own them they obsolete them selves of responsibility
There truly is a serious epidemic out there of not reading articles before commenting on the content.
You’re going to own nothing and be happy about it…..
Sorry don’t want to subscribe to The Irish times paywall who is the investor?