Dublin City Council last night voted unanimously in favour of a Sinn Féin motion calling for immediate government action to stop vulture funds pricing workers, families and struggling home-buyers out of home ownership.

A separate motion by Sinn Féin spokesperson on Finance Pearse Doherty TD and spokesperson on Housing Eoin Ó Broin that calls on the government to legislate to end the tax advantages enjoyed by institutional investors in the housing market will be debated in the Dáil this evening.

Sinn Féin Councillor Daithí Doolan said:

“The vote was hugely important. Sinn Féin’s motion demanding immediate government action on vulture funds received unanimous support. 

“The largest local authority is speaking in one voice on vulture funds.

“Vulture funds preying on the Irish housing market is wrong. They are pricing workers, families and struggling home-buyers out of home ownership.

“This should not be allowed, but it is nothing new. Recent crocodile tears shed by government representatives just will not wash with the public.

“This hasn’t just landed from the sky out of nowhere, it has been going on for several years.

“Investment funds have been allowed to buy up 13,026 residential properties in Dublin between 2016 and 2020. 

“This is as a direct result of Fine Gael housing policy, supported and continued by Fianna Fáil, and is having a very negative and immediate impact on Dublin’s housing crisis. 

“These investment funds force up the cost of family homes and condemn people to being locked in to the precarious private rented sector or to languish on City Council’s spiralling housing lists.

“Dublin City Council demands that this government takes immediate action to tackle vulture funds. We also propose solutions to this crisis. We have land and plans to deliver social and real affordable to buy or rent homes.

“What continues is a lack of government cooperation and action on plans for Oscar Traynor Road and St Míchael’s, Inchicore.

“We need to make housing affordable again for ordinary workers and families, and stop lining the pockets of developers and investment funds.”