Post #10204

Here’s the housing crisis: Landlords have long figured out they can cram 20–30 English-school visa-mill students into one family home for €10,000/month rent. Irish people are not only competing with these students to rent properties but also with investment funds to purchase them—as a high return is guaranteed so long as infinity foreigners keep arriving. Unlike the UK, Ireland lacks maximum occupancy guidelines, and a loophole allows the students to be classified as temporary “licensees” of the property rather than tenants, avoiding tenancy rights issues. One property fund, called Vestry General Partner, owns 250 such properties. Chinese investors are pouring huge sums into Dublin real estate, with many also having been attracted by the offer of a pathway to citizenship for investing. One Hong Kong group owns more than €58M in Irish properties. This basic supply-and-demand issue is by design—and those opposed to restricting demand bear full responsibility for the crisis. 👉🏻join Late Stage Ireland