The Department of Finance has said that investor roadshows, which are targeted at financial institutions and funds, will go ahead.
As reported in The Irish Times, it is intended that the roadshows will attract “sustainable investment in residential accommodation”.
The Department of Finance has said the proposed events, which were first reported in the Irish Daily Mail, were envisaged as part of moves to encourage investment in homebuilding under the Housing for All plan.
According to the Housing for All plan, the Department of Finance should: “Lead communication and engagement with institutional investors, including trade show events, to communicate policies and encourage sustainable investment in residential accommodation.”
“An event has not yet taken place, but is envisaged to take place in line with the commitment set out . . . in Housing for All,” said a spokesperson.
It is expected that an event will take place in 2022.
Furthermore, officials in the department have suggested that Minister for Finance Paschal Donohoe and the Minister for Housing Darragh O’Brien should attend an event for institutional investors aimed at reassuring those who may have been alarmed by moves to limit bulk buying of housing estates.
Criticism
The proposed events have been heavily criticised by opposition parties such as Sinn Féin. The party's housing spokesperson Eoin Ó Broin called on the Minister for Housing to reveal details of the roadshow.
“The public was rightly angered when large institutional investors, availing of enormous tax breaks, were outbidding working people . . . [for] new homes. Darragh O’Brien and Pascal Donoghue promised to take action and clip the wings of these funds,” said Mr Ó Broin.
“Now it has been revealed that both Ministers intend to go on a roadshow to reassure these very same investors that Ireland is open for business.
“Minister O’Brien must reveal the details of this roadshow. Who do they intend to meet?
“What new sweetheart deals are they promising behind closed doors to attract these funds to Ireland?” he added.
“Crucially, Minister O’Brien must explain how more of this kind of investment will deliver good quality affordable homes.”
